Pierceton, Indiana Property Taxes
The median property tax rate in Pierceton, IN is 1.01%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Pierceton at $96,100, the typical annual property tax bill is $546, which is well below the national median of $2,690. Property taxes in Pierceton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pierceton'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 Pierceton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pierceton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$971
Ownwell’s Pierceton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pierceton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pierceton 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 Pierceton, Indiana
Property taxes in Pierceton, Indiana, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Pierceton is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Pierceton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pierceton 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 Pierceton's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46562 zip code has the highest median property tax rate of 1.01%, while the 46562 zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Pierceton provides valuable insights into the varying tax landscape across Kosciusko County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pierceton Tax Rate
1.01%
Average Kosciusko County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pierceton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46562 | 0.46% | 0.61% | 1.01% | 1.29% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Pierceton, Indiana
In Pierceton, 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 Kosciusko 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 Pierceton, 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. For instance, the median home price in Pierceton is $96,100, with tax bills ranging from $220 at the 25th percentile to $2,378 at the 90th percentile. The zip code 46562 has both the highest and lowest median tax bill of $546. Being aware of these valuation processes in Pierceton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pierceton Assessed Value
$96,100
Average Kosciusko County Assessed Value
$191,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pierceton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46562 | $13,700 | $18,200 | $96,100 | $195,800 | $314,700 |
Source: Ownwell
Property Tax Bills Across Pierceton, Indiana
In Pierceton, located in Kosciusko County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and reflects the market value of the property. Homeowners in Pierceton experience property tax bills that vary significantly. The median home price in Pierceton is $96,100, with tax bills ranging from the 25th percentile at $220 to the 90th percentile at $2,378. The highest median tax bill recorded in the area is $546, which is consistent across the zip code 46562. Several factors influence the property tax bill, including the assessed value of the home, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Pierceton's tax rates can vary, impacting homeowners' annual expenses. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Pierceton Tax Bill
$546
Average Kosciusko County Tax Bill
$1,442
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Pierceton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46562 | $163 | $220 | $546 | $1,389 | $2,378 |
Source: Ownwell