Vincennes, Knox County, Indiana Property Taxes
Median Vincennes, IN effective property tax rate: 0.92%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Vincennes, IN home value: $109,700
Median annual Vincennes, IN tax bill: $1,098, $1,302 lower than the national median property tax bill of $2,400.
How are property taxes in Knox County calculated?
Property taxes in Vincennes, IN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Vincennes’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Vincennes, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Vincennes, Knox County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.92%
Estimate Property Tax Bill
$1,009
$937
Property Tax Rates Across Vincennes, Knox County, Indiana
Local government entities determine tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its budgetary needs to provide essential services and divides this by the total value of all taxable property within its jurisdiction. This calculation establishes the property tax rate. While the process involves voting and legislative actions to set rates and budgets, this is the annual procedure in a nutshell.
In Vincennes, located in Knox County, Indiana, you can compare the effective property tax rate to other cities in Indiana, as well as the median property tax rates across the state and the nation. Indiana's median property tax rate is slightly below the national median of 1.02%. Homeowners in Vincennes benefit from these lower rates, making it an attractive location for property investment compared to other parts of the country. By understanding these local tax dynamics, property owners can better navigate their tax responsibilities and potentially identify opportunities for savings.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Vincennes Tax Rate
0.92%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Knox County Tax Rate
0.90%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Vincennes, Knox County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47591 | 0.52% | 0.74% | 0.92% | 1.55% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Vincennes, Knox County, Indiana
When examining property taxes in Vincennes, Indiana, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Knox County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. This assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Knox County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Vincennes.
For example, the median home price in Vincennes is $109,700, with tax bills ranging significantly across the county. The 47591 zip code has the highest median home price at $109,700.
Property Tax Assessment Values Across Vincennes, Knox County, Indiana
Source: Ownwell
$29,200
$83,425
$137,650
Median Vincennes Market Value
$109,700
Median Knox County Market Value
$96,500
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Vincennes, Knox County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47591 | $39,600 | $66,500 | $109,700 | $187,100 | $271,470 |
Source: Ownwell
Property Tax Bills Across Vincennes, Knox County, Indiana
Median Vincennes Tax Bill
$1,098
Median Knox County Tax Bill
$903
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Vincennes, Knox County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47591 | $355 | $648 | $1,098 | $1,770 | $2,761 |
Source: Ownwell