Centerpoint, Indiana Property Taxes
The median property tax rate in Centerpoint, IN is 1.64%, significantly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Centerpoint at $56,650, the typical annual property tax bill is $682, which is below the national median of $2,690. Property taxes in Centerpoint are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Centerpoint'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 Centerpoint 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
Centerpoint, 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 CENTERPOINT Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in CENTERPOINT with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in CENTERPOINT to project your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in exploring trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Centerpoint, Indiana
Property taxes in Centerpoint, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centerpoint is 1.64%, significantly higher than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Centerpoint set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centerpoint 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 Centerpoint's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47840 has the same median property tax rate of 1.64%, providing a consistent benchmark within the region. Understanding how these areas compare with Centerpoint provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centerpoint Tax Rate
1.64%
Average Putnam County Tax Rate
0.77%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centerpoint, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47840 | 0.50% | 0.62% | 1.64% | 1.85% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Centerpoint, Indiana
In Centerpoint, 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 Putnam 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. In Centerpoint, 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 Centerpoint 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 in the area is 47840, with a tax bill of $682.
Average Centerpoint Assessed Value
$56,650
Average Putnam County Assessed Value
$120,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centerpoint, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47840 | $8,520 | $18,825 | $56,650 | $119,375 | $185,540 |
Source: Ownwell
Property Tax Bills Across Centerpoint, Indiana
In Centerpoint, located in Putnam County, IN, property tax bills are calculated based on the assessed value of a property, 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. The median home price in Centerpoint is $56,650, and homeowners can expect their tax bills to vary significantly based on their property's assessed value and the local tax rate. For instance, tax bills in the 25th percentile are around $257, while those in the 75th percentile reach approximately $1,126. The tax bill for properties in the 90th percentile can be as high as $2,515. The highest median tax bill in the area is $682, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Centerpoint.
Average Centerpoint Tax Bill
$682
Average Putnam County Tax Bill
$978
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Centerpoint, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47840 | $129 | $257 | $682 | $1,126 | $2,515 |
Source: Ownwell