Waldron, Rush County, Indiana Property Taxes
The median property tax rate in Waldron, IN is 0.71%, lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Waldron at $220,700, the typical annual property tax bill amounts to $1,431, which is below the national median of $2,690. Property taxes in Waldron are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Waldron'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 Waldron 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
Waldron, Rush County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,567
$1,454
Ownwell’s Waldron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waldron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waldron 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 Waldron, Rush County, Indiana
Property taxes in Waldron, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waldron is 0.71%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Waldron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waldron 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 Waldron's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46182 has the highest median property tax rate of 0.71%, while the lowest median tax rate is also 0.71% in the same zip code. Understanding how these areas compare with Waldron 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 Waldron Tax Rate
0.71%
Average Rush County Tax Rate
0.92%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waldron, Rush County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46182 | 0.52% | 0.65% | 0.71% | 0.92% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Waldron, Rush County, Indiana
In Waldron, 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 local 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 Waldron, 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 Waldron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the zip code 46182 has the highest and lowest median tax bill at $1431.
Property Tax Assessment Values Across Waldron, Rush County, Indiana
Source: Ownwell
$58,500
$148,675
$238,850
Average Waldron Assessed Value
$220,700
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 Waldron, Rush County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46182 | $138,280 | $189,425 | $220,700 | $334,350 | $474,440 |
Source: Ownwell
Property Tax Bills Across Waldron, Rush County, Indiana
In Waldron, located in Rush County, IN, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The tax rate in this region is influenced by various factors such as local government budgets, school funding, and public services. Homeowners in Waldron face property tax bills that can vary significantly. For instance, the 25th percentile tax bill is $1,206, while the 75th percentile tax bill is $2,642, and the 90th percentile tax bill can reach up to $3,905. The median home price in Waldron is $220,700, and the property tax rate is slightly higher than the national median of 0.99%. This means homeowners may find their tax bills somewhat burdensome compared to other regions. The highest and lowest median tax bills in Waldron are both recorded at $1,431, which is consistent with the zip code 46182. These tax bills directly impact homeowners' annual expenses, influencing their overall cost of living and financial planning.
Average Waldron Tax Bill
$1,431
Average Rush County Tax Bill
$1,215
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Waldron, Rush County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46182 | $878 | $1,206 | $1,431 | $2,642 | $3,905 |
Source: Ownwell