Heltonville, Indiana Property Taxes
The median property tax rate in Heltonville, Indiana is 0.74%, which is notably lower than both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $193,600 in Heltonville, the typical annual property tax bill amounts to $1,314, falling below the national median of $2,690. Property taxes in Heltonville are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Heltonville'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 Heltonville or another part of Monroe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Heltonville, 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 Heltonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Heltonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Heltonville 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 Heltonville, Indiana
Property taxes in Heltonville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Heltonville is 0.74%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Heltonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Heltonville 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 Heltonville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47436 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these areas compare with Heltonville provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Heltonville Tax Rate
0.74%
Average Monroe County Tax Rate
0.90%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Heltonville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47436 | 0.35% | 0.49% | 0.74% | 1.12% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Heltonville, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Heltonville, Indiana. 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 Monroe 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 Heltonville, 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 Heltonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Heltonville is $193,600, with tax bills ranging from $634 at the 25th percentile to $5,136 at the 90th percentile. The highest and lowest median tax bills in Heltonville are both $1,314, found in the 47436 zip code.
Average Heltonville Assessed Value
$193,600
Average Monroe County Assessed Value
$243,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Heltonville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47436 | $63,560 | $114,200 | $193,600 | $287,050 | $551,240 |
Source: Ownwell
Property Tax Bills Across Heltonville, Indiana
Property tax bills in Heltonville, Monroe County, IN, are determined based on the assessed value of a property, which is an estimate of the property's market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property improvements, neighborhood trends, and market conditions can influence the assessed value. For homeowners in Heltonville, the property tax rate is 0.68%, which is lower than the national median of 0.99%. This means that for a median home price of $193,600, the annual tax bill can range significantly. At the 25th percentile, homeowners might pay around $634, while those at the 75th percentile could see bills up to $2,476. The highest tax bills, at the 90th percentile, can reach $5,136. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly. Lower property tax rates can make homeownership more affordable, but it's essential to consider how these taxes support local services and infrastructure.
Average Heltonville Tax Bill
$1,314
Average Monroe County Tax Bill
$2,375
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Heltonville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47436 | $270 | $634 | $1,314 | $2,476 | $5,136 |
Source: Ownwell