Huntingburg, Indiana Property Taxes
The median property tax rate in Huntingburg, IN is 0.94%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $212,600, the typical annual property tax bill in Huntingburg reaches $2,200, which is below the national median of $2,690. Property taxes in Huntingburg are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Huntingburg'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 Huntingburg 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
Huntingburg, 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 Huntingburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huntingburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntingburg 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 Huntingburg, Indiana
Property taxes in Huntingburg, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntingburg is 0.94%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Huntingburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntingburg 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 Huntingburg's effective property tax rate to other counties in Indiana and the national median. For comparison, the highest and lowest median property tax rates in Pike County are both 0.94%, consistent across different zip codes. Understanding how these cities compare with Huntingburg provides valuable insights into the varying tax landscape across Dubois County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huntingburg Tax Rate
0.94%
Average Pike County Tax Rate
1.08%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntingburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47542 | 0.89% | 0.92% | 0.94% | 1.16% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Huntingburg, Indiana
In Huntingburg, 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 Pike County Assessor's Office 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. 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 Huntingburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Huntingburg are both $2,200, notably in the 47542 zip code.
Average Huntingburg Assessed Value
$212,600
Average Pike County Assessed Value
$98,750
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Huntingburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47542 | $88,980 | $170,200 | $212,600 | $270,900 | $357,520 |
Source: Ownwell
Property Tax Bills Across Huntingburg, Indiana
In Huntingburg, property tax bills are calculated based on the assessed value of a property, which is typically determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or renovations made. For homeowners in Huntingburg, the median home price stands at $212,600, which serves as a benchmark for estimating property taxes. Property tax bills in Huntingburg can vary significantly. For instance, the 25th percentile tax bill is around $1,625, while the 75th percentile tax bill climbs to approximately $2,995. At the higher end, the 90th percentile tax bill reaches $3,736. These variations highlight how different factors can impact the final tax amount. Compared to the national median property tax rate of 0.99%, Huntingburg's tax rates can be seen as relatively moderate. Understanding these calculations helps homeowners budget effectively and anticipate their annual financial obligations.
Average Huntingburg Tax Bill
$2,200
Average Pike County Tax Bill
$1,051
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntingburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47542 | $1,071 | $1,625 | $2,200 | $2,995 | $3,736 |
Source: Ownwell