Scottsburg, Scott County, Indiana Property Taxes
The median property tax rate in Scottsburg, IN is 0.92%, which is slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Scottsburg at $116,800, the typical annual property tax bill is $1,145, falling below the national median of $2,690. Property taxes in Scottsburg are calculated based on the tax assessed value, which often is less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Scottsburg'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 Scottsburg 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
Scottsburg, Scott County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,075
$997
Ownwell’s Scottsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scottsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scottsburg 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 Scottsburg, Scott County, Indiana
Property taxes in Scottsburg, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scottsburg is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Scottsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scottsburg 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 Scottsburg's effective property tax rate to other areas in Indiana and the national median. For comparison, the 47170 zip code has a median property tax rate of 0.92%, consistent across the region. Understanding how these cities compare with Scottsburg 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 Scottsburg Tax Rate
0.92%
Average Scott County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scottsburg, Scott County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47170 | 0.47% | 0.70% | 0.92% | 1.62% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Scottsburg, Scott County, Indiana
In Scottsburg, 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 Scottsburg, 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. The median home price in Scottsburg is $116,800, with tax bills ranging from $616 at the 25th percentile to $2,738 at the 90th percentile. The highest and lowest median tax bills are both $1,145 in zip code 47170. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Scottsburg, Scott County, Indiana
Source: Ownwell
$62,800
$104,850
$146,900
Average Scottsburg Assessed Value
$116,800
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 Scottsburg, Scott County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47170 | $39,700 | $69,100 | $116,800 | $178,000 | $236,500 |
Source: Ownwell
Property Tax Bills Across Scottsburg, Scott County, Indiana
In Scottsburg, property tax bills are determined based on the assessed value of the property, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the final tax bill, including property location, size, and any applicable exemptions or deductions. For instance, in Scott County, the median home price is $116,800. Homeowners in the 25th percentile can expect a tax bill around $616, while those in the 75th percentile might see bills closer to $1,814. The tax bill can go as high as $2,738 for properties in the 90th percentile. The highest and lowest median tax bills in the area are both $1,145, highlighting a relatively consistent tax rate across Scottsburg. Compared to the national median property tax rate of 0.99%, Scottsburg's rates can be considered moderate, impacting homeowners by ensuring they contribute a fair share towards local services and infrastructure.
Average Scottsburg Tax Bill
$1,145
Average Scott County Tax Bill
$1,013
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Scottsburg, Scott County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47170 | $318 | $616 | $1,145 | $1,814 | $2,738 |
Source: Ownwell