Manilla, Indiana Property Taxes
The median property tax rate in Manilla, IN is 0.69%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Manilla, the typical annual property tax bill reaches $973, significantly below the national median of $2,690. Property taxes in Manilla 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 Manilla'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 Manilla 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
Manilla, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$952
Ownwell’s Manilla Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manilla with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manilla 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 Manilla, Indiana
Property taxes in Manilla, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manilla is 0.69%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Manilla set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manilla 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 Manilla's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46150 zip code has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Manilla provides valuable insights into the varying tax landscape across Rush County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manilla Tax Rate
0.69%
Average Rush County Tax Rate
0.92%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manilla, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46150 | 0.33% | 0.51% | 0.69% | 1.32% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Manilla, Indiana
In Manilla, 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 Rush 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 Manilla, 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 example, the median home price in Manilla is $138,000, with tax bills ranging from $466 at the 25th percentile to $2,840 at the 90th percentile. The highest and lowest median tax bills in the area are both $973, found in the 46150 zip code. 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 Manilla helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Manilla Assessed Value
$138,000
Average Rush County Assessed Value
$138,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manilla, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46150 | $35,000 | $84,700 | $138,000 | $212,700 | $312,000 |
Source: Ownwell
Property Tax Bills Across Manilla, Indiana
In Manilla, located in Rush County, IN, property tax bills are determined by assessing the market value of a property and applying the local tax rate to this value. Homeowners in this area experience a range of tax bills, with the 25th percentile paying around $466 and the 75th percentile facing bills up to $1,709. The 90th percentile of homeowners pay as much as $2,840, highlighting significant variability based on property values and specific local tax rates. The median home price in Manilla is $138,000, and the property tax rate is influenced by various factors, including property assessments and local government budgets. This means that homeowners with higher-valued properties or those in areas with higher tax rates will naturally face higher tax bills. The highest median tax bill in the region is $973, found in the 46150 zip code. Compared to the national median property tax rate of 0.99%, the tax rates in Manilla can have a considerable impact on homeowners' annual expenses, influencing their overall cost of living.
Average Manilla Tax Bill
$973
Average Rush County Tax Bill
$1,215
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Manilla, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46150 | $243 | $466 | $973 | $1,709 | $2,840 |
Source: Ownwell