Sharpsville, Tipton County, Indiana Property Taxes
The median property tax rate in Sharpsville, Indiana is 0.72%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $159,900 in Sharpsville, the typical annual property tax bill is around $1,207, significantly below the national median of $2,690. Property taxes in Sharpsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Sharpsville'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 Sharpsville or another part of Tipton County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sharpsville, Tipton County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,151
$1,068
Ownwell’s Sharpsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sharpsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sharpsville 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 Sharpsville, Tipton County, Indiana
Property taxes in Sharpsville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sharpsville is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Sharpsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sharpsville 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 Sharpsville's effective property tax rate to other areas in Tipton County and the national median. For comparison, the 46068 zip code has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Sharpsville provides valuable insights into the varying tax landscape across Tipton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sharpsville Tax Rate
0.72%
Average Tipton County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sharpsville, Tipton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46068 | 0.50% | 0.61% | 0.72% | 0.99% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Sharpsville, Tipton County, Indiana
In Sharpsville, 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 Tipton 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 Sharpsville, 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 Sharpsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,207, found in the 46068 zip code.
Property Tax Assessment Values Across Sharpsville, Tipton County, Indiana
Source: Ownwell
$91,050
$149,725
$208,400
Average Sharpsville Assessed Value
$159,900
Average Tipton County Assessed Value
$150,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sharpsville, Tipton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46068 | $51,940 | $108,950 | $159,900 | $214,650 | $273,340 |
Source: Ownwell
Property Tax Bills Across Sharpsville, Tipton County, Indiana
Property tax bills in Sharpsville, located in Tipton County, Indiana, are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and reflects the market value of the home. For instance, with a median home price of $159,900, the property tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $744 annually, while those in the 75th percentile might see bills as high as $1,789. At the 90th percentile, the tax bill can reach up to $2,589. These tax rates are influenced by a variety of factors, including local government budgets, school district funding needs, and public services. Compared to the national median property tax rate of 0.99%, the property tax rates in Sharpsville can have a substantial impact on homeowners. Understanding these variables is crucial for homeowners to anticipate their annual financial obligations and manage their budgets effectively.
Average Sharpsville Tax Bill
$1,207
Average Tipton County Tax Bill
$1,227
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Sharpsville, Tipton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46068 | $408 | $744 | $1,207 | $1,789 | $2,589 |
Source: Ownwell