Edwardsport, Indiana Property Taxes
The median property tax rate in Edwardsport, IN is 0.60%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Edwardsport at $54,900, the typical annual property tax bill is $332, well below the national median of $2,690. Property taxes in Edwardsport are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Edwardsport’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 Edwardsport or another part of Sullivan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Edwardsport, 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 Edwardsport Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Edwardsport with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Edwardsport to provide an accurate estimate of your property tax bill. This invaluable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is the value assigned by Sullivan County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Edwardsport, Indiana
Property taxes in Edwardsport, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edwardsport is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Edwardsport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edwardsport 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 Edwardsport's effective property tax rate to other areas in Sullivan County and the national median. For comparison, the 47528 zip code has the highest median property tax rate of 0.60%, while also having the lowest median tax rate of 0.60%. Understanding how these areas compare with Edwardsport provides valuable insights into the varying tax landscape across Sullivan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edwardsport Tax Rate
0.60%
Average Sullivan County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edwardsport, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47528 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Edwardsport, Indiana
In Edwardsport, 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 Sullivan 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 Edwardsport, 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 Edwardsport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Edwardsport are both $332, found in the 47528 zip code.
Average Edwardsport Assessed Value
$54,900
Average Sullivan County Assessed Value
$68,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edwardsport, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47528 | $54,900 | $54,900 | $54,900 | $54,900 | $54,900 |
Source: Ownwell
Property Tax Bills Across Edwardsport, Indiana
In Edwardsport, located in Sullivan County, Indiana, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Edwardsport is $54,900. Property taxes are then applied at a specific rate to this assessed value to determine the annual tax bill. For homeowners in Edwardsport, the tax bill is quite uniform, with the 25th, 75th, and 90th percentiles all experiencing a tax bill of $332. This indicates a consistent tax structure across different property values within the city. When compared to the national median property tax rate of 0.99%, Edwardsport's property tax rate is relatively low. This lower tax burden can make homeownership more affordable for residents, potentially increasing the appeal of living in this small Indiana town. Overall, the factors considered in calculating property taxes in Edwardsport include the assessed value of the property and the applicable tax rate, resulting in a predictable and manageable tax bill for homeowners.
Average Edwardsport Tax Bill
$332
Average Sullivan County Tax Bill
$721
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Edwardsport, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47528 | $332 | $332 | $332 | $332 | $332 |
Source: Ownwell