Bristow, Indiana Property Taxes
The median property tax rate in Bristow, IN is 0.94%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Bristow at $90,800, the typical annual property tax bill is $815, which is significantly less than the national median of $2,690. Property taxes in Bristow 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 Bristow'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 Bristow or another part of Perry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bristow, 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 Bristow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bristow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bristow 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 Bristow, Indiana
Property taxes in Bristow, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bristow is 0.94%, which is slightly below the U.S. national median of 0.99%. Local government entities within Bristow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bristow 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 Bristow's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47515 has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with Bristow provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bristow Tax Rate
0.94%
Average Perry County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bristow, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47515 | 0.46% | 0.68% | 0.94% | 1.73% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Bristow, Indiana
In Bristow, 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 Perry 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 Bristow, 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 Bristow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 47515, with a median tax bill of $815.00, while the lowest is also 47515, reflecting the same value.
Average Bristow Assessed Value
$90,800
Average Perry County Assessed Value
$97,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bristow, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47515 | $19,300 | $46,150 | $90,800 | $143,350 | $202,200 |
Source: Ownwell
Property Tax Bills Across Bristow, Indiana
In Bristow, Perry County, IN, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Bristow stands at $90,800. Tax rates are applied to this assessed value to determine the final tax bill. For instance, homeowners in the 25th percentile pay around $348 in property taxes, while those in the 75th percentile pay approximately $1,474. At the 90th percentile, the tax bill can reach up to $2,425. The highest and lowest median tax bills in Bristow both stand at $815, indicating a consistent tax rate across the area. Several factors contribute to the calculation of property tax bills, including changes in home values and local tax rates. These taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Bristow's rates can be seen as relatively moderate, impacting homeowners by ensuring they contribute to the community while maintaining affordability.
Average Bristow Tax Bill
$815
Average Perry County Tax Bill
$927
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Bristow, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47515 | $145 | $348 | $815 | $1,474 | $2,425 |
Source: Ownwell