Greensburg, Shelby County, Indiana Property Taxes
The median property tax rate in Greensburg, Indiana is 0.81%, 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 Greensburg at $165,850, the typical annual property tax bill amounts to $1,431, falling below the national median of $2,690. Property taxes in Greensburg are calculated based on the tax assessed value, which is typically lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Greensburg'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 Greensburg 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
Greensburg, Shelby County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,343
$1,247
Ownwell’s GREENSBURG Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with a quick and accurate estimate of their annual property taxes in GREENSBURG. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in GREENSBURG to project your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is essential for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Greensburg, Shelby County, Indiana
Property taxes in Greensburg, Indiana, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Greensburg is 0.81%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Greensburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greensburg 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 Greensburg's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47240 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Greensburg provides valuable insights into the varying tax landscape across Decatur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greensburg Tax Rate
0.81%
Average Shelby County Tax Rate
0.85%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greensburg, Shelby County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47240 | 0.54% | 0.69% | 0.81% | 0.99% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Greensburg, Shelby County, Indiana
In Greensburg, 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 Greensburg, 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 Greensburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Greensburg are both $1,431, found in zip code 47240.
Property Tax Assessment Values Across Greensburg, Shelby County, Indiana
Source: Ownwell
$79,800
$172,375
$264,950
Average Greensburg Assessed Value
$165,850
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 Greensburg, Shelby County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47240 | $92,010 | $123,800 | $165,850 | $255,125 | $311,370 |
Source: Ownwell
Property Tax Bills Across Greensburg, Shelby County, Indiana
In Greensburg, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the tax bill. Factors that influence the assessed value include the home's market value, its size, and any improvements or renovations. For homeowners in Greensburg, the median home price stands at $165,850. Property tax bills can vary widely. For example, the tax bill at the 25th percentile is $918, while at the 75th percentile, it rises to $2,225. The tax bill at the 90th percentile can go as high as $3,507. The highest and lowest median tax bills in the area are both $1,431, indicating a relatively uniform tax rate across different zip codes within the county. Compared to the national median property tax rate of 0.99%, Greensburg's tax rates can have a significant impact on homeowners, influencing their financial planning and overall cost of living.
Average Greensburg Tax Bill
$1,431
Average Shelby County Tax Bill
$1,312
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Greensburg, Shelby County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47240 | $490 | $918 | $1,431 | $2,225 | $3,507 |
Source: Ownwell