Bath, Union County, Indiana Property Taxes
The median property tax rate in Bath, Indiana is 0.90%, slightly below the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Bath at $158,250, the typical annual property tax bill is $1,491, which is lower than the national median of $2,690. Property taxes in Bath are calculated based on the tax assessed value, often below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bath'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 Bath or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bath, Union County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$1,424
$1,322
Ownwell’s Bath Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bath with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bath 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 Bath, Union County, Indiana
Property taxes in Bath, Indiana, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bath is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Bath set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bath 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. Understanding how Bath's effective property tax rate compares with other areas in Union County provides valuable insights into the varying tax landscape across the region. For instance, the highest and lowest median property tax rates within Union County are both 0.90%, indicating a uniformity in tax rates across different zip codes. This consistency helps homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bath Tax Rate
0.90%
Average Union County Tax Rate
1.59%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bath, Union County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47010 | 0.61% | 0.81% | 0.90% | 0.99% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Bath, Union County, Indiana
In Bath, 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 Union County Appraisal District 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 Bath, 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 Bath helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 47010, with a value of $1,491, which is significantly lower than the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Bath, Union County, Indiana
Source: Ownwell
$75,800
$123,650
$171,500
Average Bath Assessed Value
$158,250
Average Union County Assessed Value
$88,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bath, Union County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47010 | $104,850 | $133,500 | $158,250 | $183,750 | $235,750 |
Source: Ownwell
Property Tax Bills Across Bath, Union County, Indiana
Property tax bills in Bath, located in Union County, Indiana, are determined by assessing the value of a property and applying the local tax rate to this assessed value. The median home price in Bath is $158,250, and homeowners can expect varying tax bills based on their property's assessed value. The 25th percentile tax bill in Bath is approximately $1,182, while the 75th percentile reaches around $1,980. For those in the 90th percentile, tax bills can climb to about $2,909. These figures illustrate how property tax bills can vary significantly within the same region, affecting homeowners differently. Factors such as property improvements, market conditions, and local government budgets all play a role in determining the final tax bill. Compared to the national median property tax rate of 0.99%, Bath's rates can be seen as relatively moderate, providing a balanced approach to funding community services and infrastructure. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Bath Tax Bill
$1,491
Average Union County Tax Bill
$864
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Bath, Union County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47010 | $653 | $1,182 | $1,491 | $1,980 | $2,909 |
Source: Ownwell