Demotte, Indiana Property Taxes
The median property tax rate in DeMotte, IN is 0.83%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in DeMotte at $171,100, the typical annual property tax bill is around $1,407, falling below the national median of $2,690. Property taxes in DeMotte are based on the tax assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Navigating DeMotte's property tax system, exploring available exemptions, and finding opportunities for reductions can result in considerable yearly savings. Whether you're in the heart of DeMotte or another part of Newton County, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Demotte, 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 DeMotte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DeMotte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DeMotte 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 Demotte, Indiana
Property taxes in DeMotte, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in DeMotte is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within DeMotte set these rates annually, and they can vary significantly across different neighborhoods. Each year, DeMotte 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 DeMotte's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46310 has both the highest and lowest median property tax rate of 0.83%. Understanding how these cities compare with DeMotte provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Demotte Tax Rate
0.83%
Average Newton County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Demotte, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46310 | 0.47% | 0.67% | 0.83% | 1.00% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Demotte, Indiana
In Demotte, 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 Newton 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 Demotte, 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 Demotte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 46310 has the highest and lowest median tax bill at $1,407, reflecting the variability within the area.
Average Demotte Assessed Value
$171,100
Average Newton County Assessed Value
$139,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Demotte, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46310 | $78,480 | $130,700 | $171,100 | $230,200 | $292,220 |
Source: Ownwell
Property Tax Bills Across Demotte, Indiana
In DeMotte, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the home. For instance, with a median home price of $171,100, the tax bill can vary significantly. The 25th percentile tax bill in DeMotte is around $872, while the 75th percentile tax bill reaches $2,210. For those at the higher end, the 90th percentile tax bill can go up to $3,022. Several factors influence this tax bill, including property size, location, and any applicable exemptions. Homeowners in DeMotte face a median tax bill of $1,407, which is relatively moderate when compared to the national median property tax rate of 0.99%. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life in the community. Understanding these factors can help homeowners manage their finances more effectively.
Average Demotte Tax Bill
$1,407
Average Newton County Tax Bill
$1,323
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Demotte, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46310 | $476 | $872 | $1,407 | $2,210 | $3,022 |
Source: Ownwell