Chrisney, Indiana Property Taxes
The median property tax rate in Chrisney, IN is 0.55%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Chrisney at $98,100, the typical annual property tax bill is $520, well below the national median of $2,690. Property taxes in Chrisney are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Chrisney'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 Chrisney or another part of Spencer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chrisney, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Chrisney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chrisney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chrisney 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 Chrisney, Indiana
Property taxes in Chrisney, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chrisney is 0.55%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Chrisney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chrisney 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 Chrisney's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47611 has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Chrisney provides valuable insights into the varying tax landscape across Spencer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chrisney Tax Rate
0.55%
Average Spencer County Tax Rate
0.59%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chrisney, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47611 | 0.28% | 0.40% | 0.55% | 1.00% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Chrisney, Indiana
In Chrisney, 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 Spencer 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 Chrisney, 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. For instance, the median home price in Chrisney is $98,100. The tax bills range significantly, with the 25th percentile at $239 and the 90th percentile reaching $1,619. Notably, the highest and lowest median tax bills in the area are both $520 in the 47611 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chrisney Assessed Value
$98,100
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 Chrisney, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47611 | $15,870 | $45,775 | $98,100 | $159,900 | $228,810 |
Source: Ownwell
Property Tax Bills Across Chrisney, Indiana
In Chrisney, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Chrisney is $98,100, and the property tax rate in Spencer County plays a crucial role in determining the final tax bill. Factors such as property size, location, and any applicable exemptions are considered to arrive at the assessed value. For homeowners in Chrisney, the tax bill can vary significantly. The 25th percentile tax bill is $239, while the 75th percentile tax bill reaches $1019. At the 90th percentile, homeowners may see a tax bill as high as $1619. The highest and lowest median tax bills in the area are both $520, indicating a relatively stable tax environment within the zip code 47611. Compared to the national median property tax rate of 0.99%, Chrisney's property tax landscape provides an insightful perspective on how local rates and home values impact what homeowners ultimately pay. This variability in tax bills highlights the importance of understanding local tax assessments and potential exemptions to manage property tax expenses effectively.
Average Chrisney Tax Bill
$520
Average Spencer County Tax Bill
$731
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Chrisney, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47611 | $102 | $239 | $520 | $1,019 | $1,619 |
Source: Ownwell