Plymouth, Marshall County, Indiana Property Taxes
The median property tax rate in Plymouth, IN is 0.95%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Plymouth at $127,600, the typical annual property tax bill is $1,138, which is below the national median of $2,690. Property taxes in Plymouth are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Plymouth'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 Plymouth 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
Plymouth, Marshall County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,212
$1,125
Ownwell’s Plymouth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plymouth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plymouth 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 Plymouth, Marshall County, Indiana
Property taxes in Plymouth, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plymouth is 0.95%, which is just below the U.S. national median of 0.99%. Local government entities within Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plymouth 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 Plymouth's effective property tax rate to other areas in Indiana and the national median. For comparison, the 46563 zip code has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these figures compare with Plymouth 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 Plymouth Tax Rate
0.95%
Average Marshall County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plymouth, Marshall County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46563 | 0.57% | 0.75% | 0.95% | 1.58% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth, Marshall County, Indiana
In Plymouth, 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 Plymouth, 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 Plymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 46563 has the highest and lowest median tax bill of $1138.
Property Tax Assessment Values Across Plymouth, Marshall County, Indiana
Source: Ownwell
$72,900
$145,400
$217,900
Average Plymouth Assessed Value
$127,600
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 Plymouth, Marshall County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46563 | $10,500 | $65,000 | $127,600 | $191,950 | $265,400 |
Source: Ownwell
Property Tax Bills Across Plymouth, Marshall County, Indiana
In Plymouth, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For Plymouth, located in Marshall County, the median home price is $127,600. Homeowners in this area can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $474 and the 75th percentile tax bill reaching up to $1,743. At the 90th percentile, the tax bill can be as high as $2,539. The highest and lowest median tax bills in Plymouth both stand at $1,138, reflecting the uniformity within the specific zip code of 46563. Compared to the national median property tax rate of 0.99%, Plymouth's tax rates can be seen as relatively moderate, providing a balanced financial impact on homeowners. These factors collectively influence how much homeowners will need to budget annually for their property taxes, impacting their overall cost of homeownership.
Average Plymouth Tax Bill
$1,138
Average Marshall County Tax Bill
$1,216
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Plymouth, Marshall County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46563 | $143 | $474 | $1,138 | $1,743 | $2,539 |
Source: Ownwell