Owen County, Indiana Property Taxes
The median property tax rate in Owen County is 0.80%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $135,000 in Owen County, the typical annual property tax bill is $1,105, significantly less than the national median of $2,690. Property taxes in Owen County are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Owen County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Spencer or another part of Owen County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Owen County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,080
$1,002
Ownwell’s Owen County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Owen County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Owen County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Owen County, Indiana
Property taxes in Owen County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Owen County is 0.80%, which is lower than the Indiana state median and the U.S. national median of 0.99%. Local government entities within Owen County set these rates annually, and they can vary significantly between different areas within the county. Each year, Owen County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Patricksburg has one of the higher property tax rates in Indiana at 1.23%, while the city of Worthington boasts one of the lowest at 0.71%. Analyzing how Owen County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Owen County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Owen County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bloomington | 0.41% | 0.59% | 0.80% | 1.36% | 1.50% |
| Bowling Green | 0.55% | 0.68% | 0.88% | 1.40% | 1.60% |
| Clay City | 0.59% | 0.68% | 0.91% | 1.31% | 1.34% |
| Cloverdale | 0.44% | 0.65% | 0.95% | 1.73% | 2.29% |
| Coal City | 0.37% | 0.57% | 0.86% | 1.34% | 1.70% |
| Freedom | 0.44% | 0.60% | 0.76% | 1.30% | 1.51% |
| Gosport | 0.36% | 0.56% | 0.75% | 1.26% | 1.71% |
| Paragon | 0.39% | 0.55% | 0.81% | 1.42% | 1.58% |
| Patricksburg | 0.30% | 0.48% | 1.23% | 1.43% | 2.20% |
| Poland | 0.48% | 0.71% | 1.03% | 1.67% | 2.19% |
| Quincy | 0.38% | 0.59% | 0.78% | 1.11% | 1.58% |
| Solsberry | 0.39% | 0.59% | 0.80% | 1.51% | 1.66% |
| Spencer | 0.45% | 0.61% | 0.77% | 1.21% | 1.60% |
| Worthington | 0.43% | 0.58% | 0.71% | 1.20% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Owen County, Indiana
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Owen County. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Owen County Appraisal District. The assessed value, however, 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. Assessment notices in Owen County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Owen County, the median home price is $135,000. The highest median tax bill is found in Clay City at $1,660, whereas Patricksburg has the lowest at $393. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Owen County Assessed Value
$135,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Owen County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bloomington | $39,330 | $86,350 | $117,850 | $193,875 | $261,550 |
| Bowling Green | $42,200 | $75,800 | $127,800 | $197,900 | $290,000 |
| Clay City | $91,280 | $144,200 | $191,600 | $224,325 | $276,150 |
| Cloverdale | $18,300 | $36,000 | $85,700 | $156,600 | $224,900 |
| Coal City | $33,040 | $58,100 | $111,900 | $185,500 | $290,220 |
| Freedom | $39,600 | $80,275 | $136,150 | $203,950 | $288,120 |
| Gosport | $55,340 | $89,825 | $136,050 | $198,150 | $284,180 |
| Paragon | $18,790 | $41,250 | $108,650 | $154,550 | $223,920 |
| Patricksburg | $15,380 | $21,000 | $54,800 | $86,550 | $143,660 |
| Poland | $20,300 | $45,500 | $95,900 | $160,500 | $233,280 |
| Quincy | $36,120 | $79,600 | $138,700 | $221,400 | $312,120 |
| Solsberry | $25,140 | $47,150 | $98,250 | $160,975 | $214,670 |
| Spencer | $50,900 | $98,900 | $151,800 | $218,900 | $296,600 |
| Worthington | $71,150 | $116,725 | $189,150 | $268,375 | $353,600 |
Source: Ownwell
Property Tax Bills Across Owen County, Indiana
In Owen 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 then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For instance, the median home price in Owen County is $135,000, resulting in a range of tax bills. Homeowners in the 25th percentile pay around $579, while those in the 75th percentile face bills closer to $1,841. At the 90th percentile, tax bills can reach up to $2,774. Comparatively, the highest median tax bill in Owen County is $1,660 in Clay City, while Patricksburg has the lowest at $393. These variations highlight how local factors and assessed values impact homeowners differently. Understanding these elements can help homeowners anticipate their tax liabilities and plan accordingly. With the national median property tax rate at 0.99%, Owen County's rates provide a diverse range of tax obligations for its residents.
Average Owen County Tax Bill
$1,105
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Owen County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bloomington | $185 | $501 | $1,007 | $1,937 | $2,849 |
| Bowling Green | $358 | $634 | $1,132 | $1,888 | $3,029 |
| Clay City | $801 | $1,022 | $1,660 | $2,231 | $2,664 |
| Cloverdale | $198 | $388 | $829 | $1,508 | $2,458 |
| Coal City | $226 | $484 | $971 | $1,750 | $2,603 |
| Freedom | $317 | $596 | $1,080 | $1,780 | $2,619 |
| Gosport | $298 | $557 | $1,076 | $1,757 | $2,735 |
| Paragon | $239 | $339 | $647 | $1,371 | $2,392 |
| Patricksburg | $167 | $231 | $393 | $816 | $1,190 |
| Poland | $244 | $485 | $950 | $1,645 | $2,566 |
| Quincy | $204 | $509 | $1,074 | $1,943 | $2,753 |
| Solsberry | $218 | $391 | $851 | $1,405 | $2,060 |
| Spencer | $354 | $684 | $1,226 | $1,941 | $2,848 |
| Worthington | $455 | $679 | $1,419 | $2,248 | $3,246 |
Source: Ownwell