Nabb, Indiana Property Taxes
The median property tax rate in NABB, IN is 0.89%, which is lower than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in NABB at $117,400, the typical annual property tax bill is around $971, significantly below the national median of $2,690. Property taxes in NABB are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding NABB's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of NABB 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
Nabb, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,045
Ownwell’s NABB Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NABB with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NABB 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 Nabb, Indiana
Property taxes in NABB, Indiana, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in NABB is 0.89%, slightly lower than the U.S. national median of 0.99%. Local government entities within NABB set these rates annually, and they can vary significantly across different neighborhoods. Each year, NABB 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 NABB's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47147 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with NABB 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 Nabb Tax Rate
0.89%
Average Scott County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nabb, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47147 | 0.43% | 0.68% | 0.89% | 1.51% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Nabb, Indiana
In NABB, 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 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 NABB, 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 NABB helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Scott County is 47147, both standing at $971.
Average Nabb Assessed Value
$117,400
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 Nabb, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47147 | $38,500 | $55,200 | $117,400 | $180,500 | $251,080 |
Source: Ownwell
Property Tax Bills Across Nabb, Indiana
In NABB, Scott County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the property tax rate to calculate the annual tax bill. For homeowners in NABB, the median home price is $117,400, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $547, while at the 75th percentile, it rises to $1,695. At the 90th percentile, homeowners might see tax bills as high as $2,522. Several factors influence the tax bill, including property characteristics, local tax rates, and any applicable exemptions or deductions. The highest and lowest median tax bills in Scott County are both $971, indicating a consistent property tax rate within the county. Compared to the national median property tax rate of 0.99%, NABB’s property taxes can be seen as relatively affordable, though individual bills can vary widely based on specific property assessments. This variability affects homeowners by influencing their annual housing costs and potentially impacting their financial planning.
Average Nabb Tax Bill
$971
Average Scott County Tax Bill
$1,013
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Nabb, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47147 | $280 | $547 | $971 | $1,695 | $2,522 |
Source: Ownwell