Campbellsburg, Indiana Property Taxes
The median property tax rate in Campbellsburg, IN is 1.03%, slightly higher than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Campbellsburg at $143,800, the typical annual property tax bill is $1,268, which is below the national median of $2,690. Property taxes in Campbellsburg 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 Campbellsburg'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 Campbellsburg or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Campbellsburg, 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 Campbellsburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Campbellsburg with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Campbellsburg to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax obligations. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Campbellsburg, Indiana
Property taxes in Campbellsburg, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Campbellsburg is 1.03%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Campbellsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Campbellsburg 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 Campbellsburg's effective property tax rate to other areas in Indiana and the national median. For comparison, the 47108 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these areas compare with Campbellsburg provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Campbellsburg Tax Rate
1.03%
Average Lawrence County Tax Rate
0.81%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Campbellsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47108 | 0.85% | 0.96% | 1.03% | 1.29% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Campbellsburg, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Campbellsburg, Indiana. 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 Lawrence 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 Campbellsburg, 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 Campbellsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $143,800, with tax bills ranging from $553 at the 25th percentile to $2,325 at the 90th percentile. The zip code 47108 has the highest median tax bill at $1,268.
Average Campbellsburg Assessed Value
$143,800
Average Lawrence County Assessed Value
$124,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Campbellsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47108 | $23,600 | $51,950 | $143,800 | $178,350 | $232,700 |
Source: Ownwell
Property Tax Bills Across Campbellsburg, Indiana
In Campbellsburg, located in Lawrence County, Indiana, property tax bills are calculated based on the assessed value of the home. The median home price in the area is $143,800, and the property tax rate is applied to this value to determine the annual tax bill. Factors such as property improvements and market conditions can influence the assessed value, ultimately affecting the homeowner’s tax obligation. For instance, homeowners in the 25th percentile can expect a tax bill around $553, while those in the 75th percentile might see bills as high as $1,666. The 90th percentile reaches up to $2,325. These figures demonstrate the variability in tax bills depending on property value and specific assessments. Compared to the national median property tax rate of 0.99%, the tax rate in Campbellsburg may seem more manageable, but it still significantly impacts household budgets. Understanding how these factors interplay helps homeowners anticipate and manage their annual property tax expenses effectively.
Average Campbellsburg Tax Bill
$1,268
Average Lawrence County Tax Bill
$1,042
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Campbellsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47108 | $332 | $553 | $1,268 | $1,666 | $2,325 |
Source: Ownwell