Buck Creek, Indiana Property Taxes
The median property tax rate in Buck Creek, IN, is 0.52%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Buck Creek at $90,100, the typical annual property tax bill is $466, well below the national median of $2,690. Property taxes in Buck Creek are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Buck Creek'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 Buck Creek or another part of Tippecanoe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buck Creek, 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 Buck Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buck Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buck Creek 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 Buck Creek, Indiana
Property taxes in Buck Creek, Indiana, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Buck Creek is 0.52%, which is significantly lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Buck Creek set these rates annually, and they can vary across different neighborhoods. Each year, Buck Creek estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 Buck Creek's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47924 has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these areas compare with Buck Creek provides valuable insights into the varying tax landscape across Tippecanoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buck Creek Tax Rate
0.52%
Average Tippecanoe County Tax Rate
0.90%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buck Creek, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47924 | 0.33% | 0.42% | 0.52% | 1.52% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Buck Creek, Indiana
In Buck Creek, 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 Tippecanoe 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 Buck Creek, 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 Buck Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In the 47924 zip code, the median tax bill is $466.
Average Buck Creek Assessed Value
$90,100
Average Tippecanoe County Assessed Value
$169,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buck Creek, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47924 | $35,190 | $72,350 | $90,100 | $107,675 | $134,960 |
Source: Ownwell
Property Tax Bills Across Buck Creek, Indiana
In Buck Creek, property tax bills are calculated based on the assessed value of your home, which is determined by local government assessors. The median home price in Buck Creek is $90,100. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value. For homeowners in Buck Creek, the property tax bill varies significantly. The 25th percentile tax bill is $262, while the 75th percentile reaches $782, and the 90th percentile can go up to $1,369. These variations reflect differences in property values and specific assessments. It's essential to understand that property taxes directly impact your annual housing costs and overall financial planning. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Buck Creek's property taxes align with broader trends. Homeowners should stay informed about their property's assessed value and any potential exemptions or appeals to manage their tax liabilities effectively.
Average Buck Creek Tax Bill
$466
Average Tippecanoe County Tax Bill
$1,655
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Buck Creek, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47924 | $185 | $262 | $466 | $782 | $1,369 |
Source: Ownwell