Saint Meinrad, Indiana Property Taxes
The median property tax rate in Saint Meinrad, Indiana is 1.03%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Saint Meinrad at $125,000, the typical annual property tax bill reaches $1,378, which is below the national median of $2,690. Property taxes in Saint Meinrad are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saint Meinrad'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 Saint Meinrad 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
Saint Meinrad, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,288
Ownwell’s Saint Meinrad Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Meinrad with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Meinrad 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 Saint Meinrad, Indiana
Property taxes in Saint Meinrad, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Meinrad is 1.03%, higher than the U.S. national median of 0.99%. Local government entities within Saint Meinrad set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Meinrad 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 Saint Meinrad's effective property tax rate to other areas in Perry County and the national median. For comparison, the zip code 47577 has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these rates compare with Saint Meinrad 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 Saint Meinrad Tax Rate
1.03%
Average Perry County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Meinrad, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47577 | 0.58% | 0.85% | 1.03% | 1.82% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Saint Meinrad, Indiana
In Saint Meinrad, 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 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 Saint Meinrad, 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 Saint Meinrad helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills are both $1,378 in zip code 47577.
Average Saint Meinrad Assessed Value
$125,000
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 Saint Meinrad, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47577 | $24,240 | $68,700 | $125,000 | $187,375 | $266,850 |
Source: Ownwell
Property Tax Bills Across Saint Meinrad, Indiana
In Saint Meinrad, property tax bills are calculated based on the assessed value of a home, which is determined by the Perry County Assessor's Office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the tax bill. Factors such as property improvements, neighborhood trends, and market conditions can influence the assessed value. For homeowners in Saint Meinrad, the tax bill can vary significantly. The median home price in the area is $125,000, with tax bills ranging from the 25th percentile at $479 to the 90th percentile at $3,995. The highest and lowest median tax bills in the county are both $1,378, indicating a relatively uniform tax rate across the region. Compared to the national median property tax rate of 0.99%, Saint Meinrad homeowners may find their tax obligations to be more predictable, though still influenced by individual property assessments and local tax policies.
Average Saint Meinrad Tax Bill
$1,378
Average Perry County Tax Bill
$927
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Meinrad, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47577 | $228 | $479 | $1,378 | $2,784 | $3,995 |
Source: Ownwell