Grovertown, Marshall County, Indiana Property Taxes
The median property tax rate in Grovertown, IN is 0.81%, 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 Grovertown, the typical annual property tax bill amounts to $1,249, significantly below the national median of $2,690. Property taxes in Grovertown 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 Grovertown'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 Grovertown 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
Grovertown, Marshall County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,251
$1,161
Ownwell’s Grovertown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grovertown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grovertown 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 Grovertown, Marshall County, Indiana
Property taxes in Grovertown, Indiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Grovertown is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Grovertown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grovertown 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 Grovertown's effective property tax rate to other areas in Marshall County and the national median. For comparison, the highest and lowest median property tax rates in Marshall County both stand at 0.81%, located in the zip code 46531. Understanding how these areas compare with Grovertown 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 Grovertown Tax Rate
0.81%
Average Marshall County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grovertown, Marshall County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46531 | 0.52% | 0.75% | 0.81% | 1.15% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Grovertown, Marshall County, Indiana
In Grovertown, 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 Grovertown, 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. For instance, the median home price in Grovertown is $154,400, with tax bills ranging from $463 at the 25th percentile to $1,936 at the 90th percentile. 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 Grovertown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Grovertown, Marshall County, Indiana
Source: Ownwell
$72,900
$145,400
$217,900
Average Grovertown Assessed Value
$154,400
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 Grovertown, Marshall County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46531 | $25,400 | $88,400 | $154,400 | $190,200 | $210,200 |
Source: Ownwell
Property Tax Bills Across Grovertown, Marshall County, Indiana
In Grovertown, Marshall County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Grovertown is $154,400. Property taxes are then calculated by applying the local tax rate to this assessed value. For homeowners in Grovertown, the tax bill varies significantly. At the 25th percentile, homeowners can expect a tax bill of around $463, while those at the 75th percentile might pay approximately $1,671. The highest tax bills, at the 90th percentile, can reach up to $1,936. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Grovertown's tax rates can be more or less favorable depending on individual circumstances. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in the area.
Average Grovertown Tax Bill
$1,249
Average Marshall County Tax Bill
$1,216
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Grovertown, Marshall County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46531 | $234 | $463 | $1,249 | $1,671 | $1,936 |
Source: Ownwell