Spencer County Property Taxes
The median property tax rate in Spencer County is 0.59%, which is significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Spencer County at $127,000, the typical annual property tax bill is $731, far below the national median of $2,690. Property taxes in Spencer County are calculated based on the tax assessed value, which is often less than the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Spencer County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Rockport or another part of Spencer County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spencer County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$749
Ownwell’s Spencer County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Spencer County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Spencer County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Spencer County, Indiana
Property taxes in Spencer County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Spencer County is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Spencer County set these rates annually, and they can vary significantly between different areas within the county. Each year, Spencer County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Spencer County's effective property tax rate with other counties in Indiana and the national median. For comparison, the city of Hatfield has one of the higher property tax rates in the state at 1.34%, while the city of Saint Meinrad boasts one of the lowest at 0.43%. Analyzing how Spencer County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Spencer County Tax Rate
0.59%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spencer County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Boonville | 0.31% | 0.43% | 0.56% | 1.01% | 1.15% |
| Buffaloville | 0.44% | 0.45% | 0.48% | 0.68% | 0.94% |
| Chrisney | 0.28% | 0.40% | 0.55% | 1.00% | 1.78% |
| Dale | 0.28% | 0.40% | 0.56% | 0.79% | 1.22% |
| Evanston | 0.27% | 0.38% | 0.47% | 0.69% | 1.04% |
| Ferdinand | 0.30% | 0.41% | 0.49% | 0.63% | 0.94% |
| Fulda | 0.50% | 0.95% | 1.14% | 1.15% | 1.18% |
| Gentryville | 0.35% | 0.48% | 0.65% | 1.20% | 2.05% |
| Grandview | 0.32% | 0.47% | 0.65% | 1.20% | 1.99% |
| Hatfield | 0.35% | 0.49% | 1.34% | 2.16% | 2.24% |
| Holland | 0.49% | 0.49% | 0.54% | 0.70% | 0.92% |
| Lamar | 0.25% | 0.36% | 0.47% | 0.65% | 0.97% |
| Lincoln City | 0.21% | 0.34% | 0.49% | 0.77% | 0.95% |
| Mariah Hill | 0.43% | 0.56% | 0.60% | 1.00% | 1.70% |
| Midway | 1.12% | 1.12% | 1.12% | 1.59% | 1.87% |
| Newtonville | 0.56% | 0.63% | 0.75% | 0.86% | 0.93% |
| Patronville | 0.93% | 1.09% | 1.23% | 1.38% | 1.57% |
| Reo | 1.19% | 1.21% | 1.23% | 1.23% | 1.23% |
| Richland | 0.28% | 0.41% | 0.60% | 1.13% | 1.44% |
| Rockport | 0.29% | 0.45% | 0.61% | 1.09% | 1.84% |
| Saint Meinrad | 0.22% | 0.28% | 0.43% | 0.89% | 1.14% |
| Santa Claus | 0.44% | 0.56% | 0.66% | 0.79% | 1.23% |
| Tennyson | 0.29% | 0.43% | 0.53% | 0.67% | 1.16% |
| Troy | 0.28% | 0.39% | 0.52% | 0.93% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Spencer County, Indiana
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Spencer County, Indiana. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Spencer County Appraisal District. The assessed value, however, 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. Assessment notices in Spencer County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Spencer County, the city with the highest median tax bill is Santa Claus, with a bill of $1,453, while Mariah Hill has the lowest median tax bill at $160. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Spencer County Assessed Value
$127,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spencer County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Boonville | $51,800 | $82,050 | $119,700 | $163,200 | $211,700 |
| Buffaloville | $11,950 | $15,500 | $17,250 | $28,975 | $48,000 |
| Chrisney | $15,870 | $45,775 | $98,100 | $159,900 | $228,810 |
| Dale | $36,720 | $86,450 | $120,850 | $164,650 | $228,070 |
| Evanston | $40,400 | $86,900 | $148,900 | $213,800 | $295,300 |
| Ferdinand | $91,230 | $149,150 | $205,100 | $269,725 | $353,090 |
| Fulda | $3,430 | $4,025 | $18,650 | $43,125 | $153,660 |
| Gentryville | $13,750 | $37,725 | $77,250 | $132,175 | $183,650 |
| Grandview | $15,490 | $41,825 | $91,750 | $137,525 | $185,200 |
| Hatfield | $9,990 | $20,025 | $34,200 | $63,925 | $101,950 |
| Holland | $56,930 | $93,875 | $115,900 | $130,100 | $152,960 |
| Lamar | $45,100 | $101,275 | $157,150 | $238,750 | $310,640 |
| Lincoln City | $24,150 | $62,375 | $118,550 | $170,150 | $261,100 |
| Mariah Hill | $9,600 | $15,100 | $19,700 | $59,450 | $76,600 |
| Midway | $2,220 | $2,400 | $2,700 | $68,600 | $108,140 |
| Newtonville | $123,210 | $148,275 | $190,050 | $231,825 | $256,890 |
| Patronville | $8,370 | $17,775 | $24,350 | $68,575 | $145,750 |
| Reo | $6,760 | $9,700 | $20,300 | $24,000 | $26,460 |
| Richland | $15,910 | $47,100 | $98,050 | $147,225 | $206,690 |
| Rockport | $23,500 | $56,875 | $112,950 | $184,425 | $260,950 |
| Saint Meinrad | $22,510 | $64,375 | $112,400 | $189,275 | $273,140 |
| Santa Claus | $134,000 | $173,000 | $213,400 | $280,400 | $369,600 |
| Tennyson | $28,200 | $91,450 | $127,500 | $191,750 | $240,300 |
| Troy | $34,940 | $90,650 | $140,900 | $210,550 | $264,780 |
Source: Ownwell
Property Tax Bills Across Spencer County, Indiana
In Spencer County, IN, property tax bills are calculated based on the assessed value of a home, with various factors influencing the final amount. The median home price in Spencer County is $127,000, and property taxes are levied accordingly. The tax bill can vary significantly, with the 25th percentile at $341, the 75th percentile at $1,312, and the 90th percentile reaching up to $1,962. Factors such as property location, home improvements, and local tax rates play a crucial role in determining the tax bill. For example, Santa Claus, a city within Spencer County, has the highest median tax bill at $1,453, while Mariah Hill has the lowest at $160. These variations can significantly impact homeowners, affecting their monthly budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, Spencer County offers a range of tax bills that can either be a burden or a relief, depending on the specific circumstances of the property and its assessed value.
Average Spencer County Tax Bill
$731
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Spencer County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Boonville | $173 | $361 | $690 | $1,194 | $1,382 |
| Buffaloville | $56 | $75 | $79 | $299 | $421 |
| Chrisney | $102 | $239 | $520 | $1,019 | $1,619 |
| Dale | $182 | $349 | $661 | $1,119 | $1,655 |
| Evanston | $174 | $359 | $703 | $1,164 | $1,755 |
| Ferdinand | $340 | $632 | $1,126 | $1,687 | $1,994 |
| Fulda | $39 | $47 | $220 | $440 | $667 |
| Gentryville | $126 | $262 | $540 | $896 | $1,312 |
| Grandview | $119 | $256 | $563 | $978 | $1,610 |
| Hatfield | $68 | $73 | $400 | $770 | $851 |
| Holland | $407 | $501 | $568 | $679 | $851 |
| Lamar | $165 | $335 | $774 | $1,341 | $1,906 |
| Lincoln City | $125 | $241 | $525 | $898 | $1,589 |
| Mariah Hill | $60 | $102 | $160 | $359 | $708 |
| Midway | $25 | $27 | $30 | $1,398 | $2,218 |
| Newtonville | $1,079 | $1,134 | $1,224 | $1,315 | $1,370 |
| Patronville | $116 | $252 | $358 | $694 | $1,243 |
| Reo | $81 | $115 | $251 | $294 | $325 |
| Richland | $128 | $266 | $537 | $984 | $1,522 |
| Rockport | $166 | $352 | $700 | $1,250 | $1,805 |
| Saint Meinrad | $104 | $187 | $435 | $986 | $1,611 |
| Santa Claus | $565 | $999 | $1,453 | $2,085 | $2,941 |
| Tennyson | $144 | $384 | $710 | $1,186 | $1,491 |
| Troy | $171 | $330 | $740 | $1,184 | $1,832 |
Source: Ownwell