Rushville, Rush County, Indiana Property Taxes
The median property tax rate in Rushville, IN is 0.93%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Rushville at $133,700, the typical annual property tax bill amounts to $1,210, which is significantly less than the national median of $2,690. Property taxes in Rushville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Rushville'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 Rushville 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
Rushville, Rush County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,243
$1,154
Ownwell’s Rushville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rushville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rushville 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 Rushville, Rush County, Indiana
Property taxes in Rushville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rushville is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Rushville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rushville 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 Rushville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46173 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Rushville 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 Rushville Tax Rate
0.93%
Average Rush County Tax Rate
0.92%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rushville, Rush County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46173 | 0.48% | 0.69% | 0.93% | 1.32% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Rushville, Rush County, Indiana
In Rushville, 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'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 Rushville, 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 Rushville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, zip code 46173 has the highest and lowest median tax bill at $1,210, reflecting a range of property values and tax liabilities within the area.
Property Tax Assessment Values Across Rushville, Rush County, Indiana
Source: Ownwell
$58,500
$148,675
$238,850
Average Rushville Assessed Value
$133,700
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 Rushville, Rush County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46173 | $49,190 | $85,700 | $133,700 | $206,175 | $312,190 |
Source: Ownwell
Property Tax Bills Across Rushville, Rush County, Indiana
In Rushville, property tax bills are calculated based on the assessed value of a property, which is determined by local government assessors. This assessed value is a percentage of the property's market value. Homeowners in Rushville can expect a median property tax bill of $1,210, which is significantly lower than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For example, homes in the 25th percentile have tax bills around $791, while those in the 75th percentile see bills near $1,879. At the higher end, the 90th percentile tax bill can reach up to $3,071. These variations highlight how different property characteristics impact the final tax amount. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Rushville Tax Bill
$1,210
Average Rush County Tax Bill
$1,215
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Rushville, Rush County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46173 | $426 | $791 | $1,210 | $1,879 | $3,071 |
Source: Ownwell