Moores Hill, Indiana Property Taxes
The median property tax rate in Moores Hill, IN is 0.84%, lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $128,100 in Moores Hill, the typical annual property tax bill is $1,223, which is below the national median of $2,690. Property taxes in Moores Hill 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 Moores Hill'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 Moores Hill or another part of Ripley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moores Hill, 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 Moores Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moores Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moores Hill 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 Moores Hill, Indiana
Property taxes in Moores Hill, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moores Hill is 0.84%, which is below the U.S. national median of 0.99%. Local government entities within Moores Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moores Hill 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 Moores Hill's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47032 has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Moores Hill provides valuable insights into the varying tax landscape across Ripley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moores Hill Tax Rate
0.84%
Average Ripley County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moores Hill, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47032 | 0.45% | 0.60% | 0.84% | 0.96% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Moores Hill, Indiana
In Moores Hill, 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 Ripley County Appraisal District 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 Moores Hill, 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. For instance, the median home price in Moores Hill is $128,100, with tax bills ranging from $631 at the 25th percentile to $2,606 at the 90th percentile. The zip code 47032 has both the highest and lowest median tax bill, at $1,223. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Moores Hill Assessed Value
$128,100
Average Ripley County Assessed Value
$137,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moores Hill, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47032 | $66,760 | $88,900 | $128,100 | $188,900 | $234,160 |
Source: Ownwell
Property Tax Bills Across Moores Hill, Indiana
In Moores Hill, property tax bills are calculated based on the assessed value of a home, which is determined by the Ripley County Assessor's Office. This assessed value considers factors like the home's market value, location, and any improvements made to the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Moores Hill, the median home price is $128,100. Property tax bills can vary significantly, with the 25th percentile tax bill at $631 and the 75th percentile reaching $1,771. The highest median tax bill in the area is $1,223. These figures suggest that while some homeowners may face relatively low property tax bills, others could see higher amounts, particularly if their property is valued above the median. Compared to the national median property tax rate of 0.99%, Moores Hill offers a range of tax liabilities that can impact household budgets differently, depending on individual property assessments and local tax rates.
Average Moores Hill Tax Bill
$1,223
Average Ripley County Tax Bill
$1,170
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Moores Hill, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47032 | $337 | $631 | $1,223 | $1,771 | $2,606 |
Source: Ownwell