Deputy, Indiana Property Taxes
The median property tax rate in Deputy, Indiana is 0.75%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Deputy at $80,100, the typical annual property tax bill amounts to $597, significantly below the national median of $2,690. Property taxes in Deputy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Deputy's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Deputy or another part of Jennings County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Deputy, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Deputy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deputy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deputy to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Deputy, Indiana
Property taxes in Deputy, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deputy is 0.75%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Deputy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deputy estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Deputy's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47230 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Deputy provides valuable insights into the varying tax landscape across Jennings County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deputy Tax Rate
0.75%
Average Jennings County Tax Rate
0.87%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deputy, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47230 | 0.26% | 0.45% | 0.75% | 1.58% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Deputy, Indiana
In Deputy, Indiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Jennings County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Deputy, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Deputy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Deputy is $80,100, with tax bills ranging from $292 at the 25th percentile to $2,003 at the 90th percentile. The highest and lowest median tax bill is $597, found in the 47230 zip code.
Average Deputy Assessed Value
$80,100
Average Jennings County Assessed Value
$107,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deputy, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47230 | $22,640 | $49,650 | $80,100 | $122,500 | $187,500 |
Source: Ownwell
Property Tax Bills Across Deputy, Indiana
In Deputy, located in Jennings County, IN, property tax bills are determined by assessing the value of your property, which is then multiplied by the local tax rate. The median home price here is $80,100, and the tax rate is applied to this assessed value. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in Deputy can expect property tax bills to vary significantly. For example, the 25th percentile tax bill is around $292, while the 75th percentile reaches $1,099. At the higher end, the 90th percentile tax bill can be as much as $2,003. Comparatively, the highest and lowest median tax bills in the area are both $597, indicating some consistency in median tax assessments. This variability directly impacts homeowners, influencing their annual financial planning and the overall affordability of owning property in Deputy.
Average Deputy Tax Bill
$597
Average Jennings County Tax Bill
$904
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Deputy, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47230 | $184 | $292 | $597 | $1,099 | $2,003 |
Source: Ownwell