Paoli, Orange County, Indiana Property Taxes
The median property tax rate in Paoli, IN is 0.84%, notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $94,800 in Paoli, the typical annual property tax bill amounts to $746, which is significantly below the national median of $2,690. Property taxes in Paoli are determined based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Paoli'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 Paoli or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paoli, Orange County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$796
$739
Ownwell’s Paoli Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paoli with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paoli 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 Paoli, Orange County, Indiana
Property taxes in Paoli, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paoli is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Paoli set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paoli 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 Paoli's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47454 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Paoli provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paoli Tax Rate
0.84%
Average Orange County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paoli, Orange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47454 | 0.42% | 0.60% | 0.84% | 1.50% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Paoli, Orange County, Indiana
In Paoli, 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 Orange 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 Paoli, 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 Paoli helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Paoli is $94,800, with the highest median tax bill in the 47454 zip code at $746.00.
Property Tax Assessment Values Across Paoli, Orange County, Indiana
Source: Ownwell
$75,900
$107,350
$138,800
Average Paoli Assessed Value
$94,800
Average Orange County Assessed Value
$102,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paoli, Orange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47454 | $13,800 | $43,500 | $94,800 | $145,500 | $213,140 |
Source: Ownwell
Property Tax Bills Across Paoli, Orange County, Indiana
In Paoli, Orange County, IN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Paoli is $94,800. Homeowners' tax bills can vary significantly, with the 25th percentile paying around $340 and the 75th percentile facing $1,342. For those in the 90th percentile, tax bills can reach up to $2,217. These amounts reflect the local property tax rate applied to the assessed value of properties. Several factors influence the final tax bill, including the home's assessed value, which is determined by local assessors, and any applicable exemptions or deductions. Comparatively, the median property tax rate in Paoli aligns closely with the national median rate of 0.99%. This means homeowners in Paoli typically experience property tax bills that are consistent with national averages, impacting their annual housing costs and overall financial planning. Understanding these factors can help homeowners anticipate their property tax obligations and manage their budgets effectively.
Average Paoli Tax Bill
$746
Average Orange County Tax Bill
$783
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Paoli, Orange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47454 | $159 | $340 | $746 | $1,342 | $2,217 |
Source: Ownwell