Converse, Indiana Property Taxes
The median property tax rate in Converse, IN is 0.88%, which is below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Converse at $109,750, the typical annual property tax bill comes to $1,058, significantly lower than the national median of $2,690. Property taxes in Converse are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Converse's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Converse or another part of Miami County, gaining a comprehensive understanding of the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Converse, 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 Converse Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Converse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Converse 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 Converse, Indiana
Property taxes in Converse, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Converse is 0.88%, lower than the U.S. national median of 0.99%. Local government entities within Converse set these rates annually, and they can vary across different neighborhoods. Each year, Converse 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 Converse's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 46919 has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these areas compare with Converse 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 Converse Tax Rate
0.88%
Average Miami County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Converse, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46919 | 0.49% | 0.64% | 0.88% | 1.73% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Converse, Indiana
In Converse, 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 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 Converse, 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 Converse helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Converse are both $1,058, found in zip code 46919.
Average Converse Assessed Value
$109,750
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 Converse, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46919 | $38,960 | $69,975 | $109,750 | $153,250 | $221,590 |
Source: Ownwell
Property Tax Bills Across Converse, Indiana
In Converse, located in Miami County, Indiana, property tax bills are determined based on the assessed value of a home. The local assessor evaluates the property's market value, and this assessed value is then used to calculate the tax bill. Various factors such as property size, location, and market conditions influence this assessment. The median home price in Converse is $109,750, and homeowners can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $583, while the 75th percentile reaches $1,639. For those in the 90th percentile, tax bills can be as high as $2,465. The highest median tax bill in the area is $1,058, which is relatively lower compared to the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by affecting their overall housing costs. Lower tax rates can make homeownership more affordable, while higher rates may pose a financial burden. Understanding these factors can help homeowners better manage their finances and plan for future expenses.
Average Converse Tax Bill
$1,058
Average Miami County Tax Bill
$709
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Converse, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46919 | $295 | $583 | $1,058 | $1,639 | $2,465 |
Source: Ownwell