Fillmore, Indiana Property Taxes
The median property tax rate in Fillmore, IN is 0.71%, which is notably lower than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Fillmore, the typical annual property tax bill reaches $967, substantially below the national median of $2,690. Property taxes in Fillmore 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 Fillmore'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 Fillmore 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
Fillmore, 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 Fillmore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fillmore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fillmore 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 Fillmore, Indiana
Property taxes in Fillmore, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fillmore is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Fillmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fillmore 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 Fillmore's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46128 has both the highest and lowest median property tax rate of 0.71%. Understanding how Fillmore compares with other areas 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 Fillmore Tax Rate
0.71%
Average Putnam County Tax Rate
0.77%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fillmore, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46128 | 0.39% | 0.53% | 0.71% | 0.99% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Fillmore, Indiana
In Fillmore, 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 Fillmore, 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 Fillmore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 46128 has the highest and lowest median tax bill of $967.
Average Fillmore Assessed Value
$139,800
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 Fillmore, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46128 | $54,200 | $93,250 | $139,800 | $194,075 | $271,380 |
Source: Ownwell
Property Tax Bills Across Fillmore, Indiana
In Fillmore, property tax bills are calculated based on the assessed value of a property, which is determined by the Putnam County Assessor's Office. The assessed value is a percentage of the market value of the home. Factors such as property size, location, and condition are considered to estimate this value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For instance, with a median home price of $139,800, homeowners might see a tax bill ranging from $546 at the 25th percentile to $2,676 at the 90th percentile. The median tax bill stands at $967, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can make Fillmore an attractive place for homeowners, providing a balance between affordable living and necessary public services funded by these taxes. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Fillmore Tax Bill
$967
Average Putnam County Tax Bill
$978
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Fillmore, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46128 | $273 | $546 | $967 | $1,737 | $2,676 |
Source: Ownwell