Boggstown, Indiana Property Taxes
The median property tax rate in Boggstown, IN is 0.72%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Boggstown being $174,600, the typical annual property tax bill is $1,295, which is below the national median of $2,690. Property taxes in Boggstown are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Boggstown'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 Boggstown or another part of Shelby County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boggstown, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,257
Ownwell’s Boggstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boggstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boggstown 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 Boggstown, Indiana
Property taxes in Boggstown, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boggstown is 0.72%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Boggstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boggstown 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 Boggstown's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46110 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Boggstown provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boggstown Tax Rate
0.72%
Average Shelby County Tax Rate
0.85%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boggstown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46110 | 0.42% | 0.60% | 0.72% | 0.91% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Boggstown, Indiana
In Boggstown, 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 Shelby 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 Boggstown, 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 Boggstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Boggstown is $174,600, with the median tax bill ranging from $571 to $3,074. The zip code with the highest and lowest median tax bill is 46110, at $1,295.
Average Boggstown Assessed Value
$174,600
Average Shelby County Assessed Value
$152,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boggstown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46110 | $43,670 | $107,100 | $174,600 | $252,075 | $343,490 |
Source: Ownwell
Property Tax Bills Across Boggstown, Indiana
In Boggstown, located in Shelby County, IN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Boggstown is $174,600. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $571, the 75th percentile at $2,036, and the 90th percentile reaching up to $3,074. The highest and lowest median tax bills in the area are both $1,295, indicating a consistent tax rate across different properties. Factors influencing the tax bill include the property's assessed value, which is determined by local assessors, and the local tax rate set by the county. This rate can fluctuate based on budgetary needs for public services such as schools, infrastructure, and emergency services. Homeowners in Boggstown may find their property tax bills higher or lower compared to the national median property tax rate of 0.99%, depending on these assessed values and local tax rates. This variability can significantly impact household budgets and long-term financial planning for residents.
Average Boggstown Tax Bill
$1,295
Average Shelby County Tax Bill
$1,312
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Boggstown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46110 | $238 | $571 | $1,295 | $2,036 | $3,074 |
Source: Ownwell