Dillsboro, Indiana Property Taxes
The median property tax rate in Dillsboro, IN is 0.74%, 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 Dillsboro being $187,600, the typical annual property tax bill reaches $1,601, significantly below the national median of $2,690. Property taxes in Dillsboro are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dillsboro'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 Dillsboro or another part of Ohio County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dillsboro, 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 Dillsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dillsboro 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 Dillsboro, Indiana
Property taxes in Dillsboro, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dillsboro is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Dillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dillsboro 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 Dillsboro's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47018 has both the highest and lowest median property tax rate in the county, at 0.74%. Understanding how these areas compare with Dillsboro 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 Dillsboro Tax Rate
0.74%
Average Ohio County Tax Rate
0.73%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | 0.51% | 0.63% | 0.74% | 1.19% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Dillsboro, Indiana
In Dillsboro, 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 Appraisal District 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 Dillsboro, 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 Dillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1601.00, found in zip code 47018.
Average Dillsboro Assessed Value
$187,600
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 Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | $78,310 | $129,325 | $187,600 | $270,375 | $314,250 |
Source: Ownwell
Property Tax Bills Across Dillsboro, Indiana
In Dillsboro, located in Ohio County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the property. For homeowners in Dillsboro, the median home price stands at $187,600. The tax rate is applied to this assessed value to determine the annual property tax bill. Homeowners in Dillsboro experience a range of property tax bills. At the 25th percentile, the tax bill is approximately $909, while at the 75th percentile, it climbs to $2,173. At the 90th percentile, homeowners could see tax bills as high as $2,849. These variations reflect differences in property values and any applicable exemptions or deductions that might apply. When compared to the national median property tax rate of 0.99%, Dillsboro's property taxes can significantly impact homeowners' annual expenses, making it essential for property owners to understand their tax obligations and explore potential savings through appeals or exemptions.
Average Dillsboro Tax Bill
$1,601
Average Ohio County Tax Bill
$1,342
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | $526 | $909 | $1,601 | $2,173 | $2,849 |
Source: Ownwell