Taswell, Orange County, Indiana Property Taxes
The median property tax rate in Taswell, Indiana is 1.35%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Taswell at $75,900, the typical annual property tax bill reaches $561, which is well below the national median of $2,690. Property taxes in Taswell 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 Taswell'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 Taswell 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
Taswell, Orange County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,025
$951
Ownwell’s Taswell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taswell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taswell 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 Taswell, Orange County, Indiana
Property taxes in Taswell, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Taswell is 0.73%, lower than both the Indiana state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Taswell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Taswell 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 Taswell's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47175 zip code has the highest median property tax rate of 0.73%, while the same 47175 zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Taswell provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Taswell Tax Rate
1.35%
Average Orange County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taswell, Orange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47175 | 0.36% | 0.61% | 1.35% | 1.43% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Taswell, Orange County, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Taswell, Indiana. 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 Taswell, 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. The median home price in Taswell is $75,900, with tax bills ranging from $294 at the 25th percentile to $2,038 at the 90th percentile. The highest and lowest median tax bills are both $561 in the 47175 zip code. Being aware of these valuation processes in Taswell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Taswell, Orange County, Indiana
Source: Ownwell
$75,900
$107,350
$138,800
Average Taswell Assessed Value
$75,900
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 Taswell, Orange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47175 | $14,360 | $22,700 | $75,900 | $118,800 | $173,800 |
Source: Ownwell
Property Tax Bills Across Taswell, Orange County, Indiana
In Taswell, located in Orange County, IN, property tax bills are determined based on the assessed value of a home, which is calculated by local government assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Taswell is $75,900, and the local property tax rate is compared to the national median property tax rate of 0.99%. For homeowners, the 25th percentile tax bill is $294, while the 75th percentile tax bill is $1,280, and the 90th percentile tax bill reaches $2,038. These figures illustrate the range of property tax bills in the area, which can significantly impact homeowners' annual expenses. The highest and lowest median tax bills in the region are both $561, indicating a relatively consistent tax rate across different properties. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Taswell Tax Bill
$561
Average Orange County Tax Bill
$783
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Taswell, Orange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47175 | $135 | $294 | $561 | $1,280 | $2,038 |
Source: Ownwell