Ridgeville, Randolph County, Indiana Property Taxes
The median property tax rate in Ridgeville, Indiana is 1.04%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Ridgeville at $62,500, the typical annual property tax bill reaches $668, which is below the national median of $2,690. Property taxes in Ridgeville 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 Ridgeville'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 Ridgeville 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
Ridgeville, Randolph County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$650
$603
Ownwell’s Ridgeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridgeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridgeville 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 Ridgeville, Randolph County, Indiana
Property taxes in Ridgeville, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridgeville is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Ridgeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgeville 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. For comparison, the 47380 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Ridgeville provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ridgeville Tax Rate
1.04%
Average Randolph County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ridgeville, Randolph County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47380 | 0.57% | 0.80% | 1.04% | 1.88% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Ridgeville, Randolph County, Indiana
In Ridgeville, 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 Randolph 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 Ridgeville, 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 Ridgeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 47380 has both the highest and lowest median tax bills, each at $668.
Property Tax Assessment Values Across Ridgeville, Randolph County, Indiana
Source: Ownwell
$25,250
$83,850
$142,450
Average Ridgeville Assessed Value
$62,500
Average Randolph County Assessed Value
$87,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ridgeville, Randolph County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47380 | $15,640 | $33,150 | $62,500 | $119,225 | $181,910 |
Source: Ownwell
Property Tax Bills Across Ridgeville, Randolph County, Indiana
In Ridgeville, located in Randolph County, IN, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $62,500. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's assessed value and the local tax rate. For homeowners, this means that their annual tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $374, while at the 75th percentile, it rises to $1,269. At the 90th percentile, homeowners can expect to pay around $2,238. The highest median tax bill recorded in the area is $668, which is relatively modest compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners as it directly impacts their annual financial obligations. Lower assessed values and tax rates can result in more manageable tax bills, providing some relief compared to higher-tax regions.
Average Ridgeville Tax Bill
$668
Average Randolph County Tax Bill
$890
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridgeville, Randolph County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47380 | $204 | $374 | $668 | $1,269 | $2,238 |
Source: Ownwell