Aurora, Indiana Property Taxes
The median property tax rate in Aurora, Indiana is 0.72%, which is lower than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Aurora at $187,050, the typical annual property tax bill amounts to $1,446, falling short of the national median of $2,690. Property taxes in Aurora are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Aurora'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 Aurora 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
Aurora, 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 Aurora Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Aurora with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Aurora to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Aurora, Indiana
Property taxes in Aurora, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aurora is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Aurora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aurora 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. For comparison, the 47001 zip code has both the highest and lowest median property tax rate of 0.72%. Understanding how these cities compare with Aurora provides valuable insights into the varying tax landscape across Ohio County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aurora Tax Rate
0.72%
Average Ohio County Tax Rate
0.73%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aurora, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47001 | 0.51% | 0.64% | 0.72% | 1.05% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Aurora, Indiana
In Aurora, 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 Ohio 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 Aurora, 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 Aurora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Aurora is $187,050, with tax bills ranging from $840 at the 25th percentile to $2,671 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 47001, with a median tax bill of $1,446.
Average Aurora Assessed Value
$187,050
Average Ohio County Assessed Value
$161,350
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aurora, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47001 | $39,060 | $122,400 | $187,050 | $254,975 | $318,350 |
Source: Ownwell
Property Tax Bills Across Aurora, Indiana
In Aurora, Ohio County, Indiana, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Aurora is $187,050, and homeowners can expect a property tax bill that varies significantly across different percentiles. For instance, the tax bill at the 25th percentile is $840, while at the 75th percentile, it rises to $1,936. The 90th percentile sees tax bills reaching up to $2,671. These tax bills are influenced by various factors, including property size, location, and market conditions. The highest median tax bill within the zip code 47001 is $1,446, which aligns with the lowest median tax bill, indicating a level of consistency in property tax assessments within that area. Compared to the national median property tax rate of 0.99%, Aurora's property tax rates and bills reflect the local economic landscape and property values, impacting homeowners' annual financial obligations significantly.
Average Aurora Tax Bill
$1,446
Average Ohio County Tax Bill
$1,342
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Aurora, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47001 | $373 | $840 | $1,446 | $1,936 | $2,671 |
Source: Ownwell