Stinesville, Indiana Property Taxes
The median property tax rate in Stinesville, IN is 0.55%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Stinesville at $83,500, the typical annual property tax bill amounts to $515, well below the national median of $2,690. Property taxes in Stinesville are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stinesville'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 Stinesville 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
Stinesville, 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 Stinesville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Stinesville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Stinesville to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. If you’re interested in exploring trends at a neighborhood level, scroll down for more localized information. Your property’s assessed value is the value assigned by Monroe County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Stinesville, Indiana
Property taxes in Stinesville, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stinesville is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Stinesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stinesville 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 Stinesville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47464 zip code has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Stinesville 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 Stinesville Tax Rate
0.55%
Average Monroe County Tax Rate
0.90%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stinesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47464 | 0.32% | 0.41% | 0.55% | 1.07% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Stinesville, Indiana
In Stinesville, 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 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 Stinesville, 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. The median home price in this area is $83,500. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest and lowest median tax bills in Stinesville are both $515, located in the 47464 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stinesville Assessed Value
$83,500
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 Stinesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47464 | $24,360 | $58,200 | $83,500 | $116,200 | $143,120 |
Source: Ownwell
Property Tax Bills Across Stinesville, Indiana
In Stinesville, property tax bills are calculated based on the assessed value of a property, which is determined by the Monroe County Assessor. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $83,500, homeowners can expect their tax bills to vary widely. At the 25th percentile, the tax bill is approximately $275, whereas at the 75th percentile, it rises to around $753. For those at the 90th percentile, the tax bill can be as high as $1,369. These variations are influenced by factors such as property size, location, and any applicable exemptions. Even within the same zip code of 47464, the median tax bill stands at $515. Compared to the national median property tax rate of 0.99%, homeowners in Stinesville may find their tax obligations to be relatively manageable, but it's essential to consider these factors when budgeting for homeownership.
Average Stinesville Tax Bill
$515
Average Monroe County Tax Bill
$2,375
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Stinesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47464 | $133 | $275 | $515 | $753 | $1,369 |
Source: Ownwell