Amboy, Indiana Property Taxes
The median property tax rate in Amboy, Indiana is 0.72%, which is notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Amboy at $121,700, the typical annual property tax bill amounts to $810, significantly below the national median of $2,690. Property taxes in Amboy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Amboy'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 Amboy 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
Amboy, 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 Amboy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amboy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amboy 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 Amboy, Indiana
Property taxes in Amboy, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amboy is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Amboy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amboy 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 Amboy's effective property tax rate to other counties in Indiana and the national median. For comparison, the ZIP code 46911 has the highest median property tax rate of 0.72%, while the same ZIP code also has the lowest median tax rate of 0.72%. Understanding how these areas compare with Amboy provides valuable insights into the varying tax landscape across Miami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amboy Tax Rate
0.72%
Average Miami County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amboy, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46911 | 0.30% | 0.43% | 0.72% | 1.40% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Amboy, Indiana
In Amboy, 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 Miami County Assessor's Office 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 Amboy, 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. Amboy's median home price is $121,700, with tax bills ranging from $401 at the 25th percentile to $2,306 at the 90th percentile. Being aware of these valuation processes in Amboy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amboy Assessed Value
$121,700
Average Miami County Assessed Value
$92,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amboy, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46911 | $24,600 | $65,100 | $121,700 | $195,500 | $283,300 |
Source: Ownwell
Property Tax Bills Across Amboy, Indiana
In Amboy, Miami County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value reflects the market value of the property, and the tax rate is applied to this value to calculate the annual tax bill. The median home price in Amboy is $121,700, and the median property tax bill is $810. Homeowners in the 25th percentile pay around $401, while those in the 75th percentile pay approximately $1,373. For those in the 90th percentile, the tax bill can be as high as $2,306. Several factors influence the tax bill, including property improvements, neighborhood changes, and local government budgets. Compared to the national median property tax rate of 0.99%, Amboy’s rate is relatively moderate. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these taxes are calculated can help homeowners anticipate and manage their annual expenses effectively.
Average Amboy Tax Bill
$810
Average Miami County Tax Bill
$709
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Amboy, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46911 | $193 | $401 | $810 | $1,373 | $2,306 |
Source: Ownwell