Argos, Marshall County, Indiana Property Taxes
The median property tax rate in Argos, IN is 0.97%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Argos at $110,700, the typical annual property tax bill amounts to $1,023, which is significantly lower than the national median of $2,690. Property taxes in Argos are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Argos'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 Argos 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
Argos, Marshall County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,074
$996
Ownwell’s Argos Property Tax Bill Calculator empowers homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Argos with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Argos to provide an accurate estimate of your property tax bill. This tool offers valuable insights into potential tax liabilities, helping you make informed financial decisions. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is determined by Marshall County for tax purposes, incorporating any applicable exemptions.
Property Tax Rates Across Argos, Marshall County, Indiana
Property taxes in Argos, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Argos is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Argos set these rates annually, and they can vary significantly across different neighborhoods. Each year, Argos 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 Argos's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46501 zip code has both the highest and lowest median property tax rate of 0.97%. Understanding how these cities compare with Argos provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Argos Tax Rate
0.97%
Average Marshall County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Argos, Marshall County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46501 | 0.51% | 0.76% | 0.97% | 1.16% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Argos, Marshall County, Indiana
In Argos, 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 Marshall 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 Argos, 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. The median home price in Argos is $110,700, with tax bills ranging from $587 at the 25th percentile to $2,173 at the 90th percentile. The highest median tax bill is $1,023 in the zip code 46501, which is also the lowest median tax bill. By understanding 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 Argos helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Argos, Marshall County, Indiana
Source: Ownwell
$72,900
$145,400
$217,900
Average Argos Assessed Value
$110,700
Average Marshall County Assessed Value
$139,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Argos, Marshall County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46501 | $29,600 | $74,100 | $110,700 | $160,550 | $215,600 |
Source: Ownwell
Property Tax Bills Across Argos, Marshall County, Indiana
Property tax bills in Argos, located in Marshall County, Indiana, are calculated based on the assessed value of a property. The local tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including the property's market value, improvements, and any exemptions for which the homeowner may qualify. For instance, the median home price in Argos is $110,700, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $587 annually, while those in the 75th percentile face bills of approximately $1,560. At the 90th percentile, the tax bill can reach up to $2,173. Comparatively, the national median property tax rate is 0.99%, making Argos relatively affordable for homeowners. Understanding these factors is crucial for homeowners as it directly impacts their annual financial planning and property investment decisions.
Average Argos Tax Bill
$1,023
Average Marshall County Tax Bill
$1,216
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Argos, Marshall County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46501 | $153 | $587 | $1,023 | $1,560 | $2,173 |
Source: Ownwell