Marysville, Scott County, Indiana Property Taxes
The median property tax rate in Marysville, IN is 1.00%, slightly above both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Marysville at $146,900, the typical annual property tax bill reaches $1,580, which is lower than the national median of $2,690. Property taxes in Marysville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Marysville'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 Marysville or another part of Scott County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marysville, Scott County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,469
$1,363
Ownwell’s Marysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marysville 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 Marysville, Scott County, Indiana
Property taxes in Marysville, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marysville is 1.00%, which is slightly above the U.S. national median of 0.99%. Local government entities within Marysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marysville 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 Marysville's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47141 has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Marysville provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marysville Tax Rate
1.00%
Average Scott County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marysville, Scott County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47141 | 0.75% | 0.88% | 1.00% | 1.41% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Marysville, Scott County, Indiana
In Marysville, 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 Scott 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 Marysville, 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 Marysville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,580, found in the 47141 zip code.
Property Tax Assessment Values Across Marysville, Scott County, Indiana
Source: Ownwell
$62,800
$104,850
$146,900
Average Marysville Assessed Value
$146,900
Average Scott County Assessed Value
$98,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marysville, Scott County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47141 | $71,020 | $97,725 | $146,900 | $222,050 | $278,180 |
Source: Ownwell
Property Tax Bills Across Marysville, Scott County, Indiana
In Marysville, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate. For homeowners in Marysville, the median home price is $146,900, and the property tax rate in Scott County is in line with the national median of 0.99%. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and improvements made to the home. For instance, the 25th percentile of tax bills is $1,157, while the 75th percentile reaches $2,324, and the 90th percentile is $2,568. The highest and lowest median tax bills in the area are both $1,580, indicating a consistent tax rate across different properties. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Marysville.
Average Marysville Tax Bill
$1,580
Average Scott County Tax Bill
$1,013
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Marysville, Scott County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47141 | $782 | $1,157 | $1,580 | $2,324 | $2,568 |
Source: Ownwell