Saint Bernice, Indiana Property Taxes
The median property tax rate in Saint Bernice, IN is 1.62%, significantly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Saint Bernice at $38,300, the typical annual property tax bill amounts to $316, which is much lower than the national median of $2,690. Property taxes in Saint Bernice 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 Saint Bernice'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 Saint Bernice 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
Saint Bernice, 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 Saint Bernice Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Bernice with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Bernice 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 Saint Bernice, Indiana
Property taxes in Saint Bernice, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Bernice is 1.62%, significantly higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Saint Bernice set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Bernice 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 Saint Bernice's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47875 zip code has the highest median property tax rate of 1.62%, while the 47875 zip code also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Saint Bernice provides valuable insights into the varying tax landscape across Vermillion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Bernice Tax Rate
1.62%
Average Vermillion County Tax Rate
1.02%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Bernice, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47875 | 0.43% | 0.58% | 1.62% | 1.98% | 3.35% |
Source: Ownwell
Property Tax Assessment Values Across Saint Bernice, Indiana
In Saint Bernice, 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 Vermillion 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. Assessment notices in Saint Bernice 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 Saint Bernice helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $316, found in the 47875 zip code.
Average Saint Bernice Assessed Value
$38,300
Average Vermillion County Assessed Value
$78,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Bernice, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47875 | $7,180 | $15,100 | $38,300 | $60,750 | $88,100 |
Source: Ownwell
Property Tax Bills Across Saint Bernice, Indiana
In Saint Bernice, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor. The assessed value is a percentage of the market value of the home. For instance, with a median home price of $38,300, the property tax rate in Vermillion County plays a crucial role in determining the final tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. In this region, property tax bills can vary significantly. For example, the 25th percentile tax bill is $196, while the 75th percentile tax bill reaches $631. At the higher end, the 90th percentile tax bill can go up to $1,414. These tax bills impact homeowners by affecting their annual financial obligations, which can influence decisions on homeownership and property investments. Compared to the national median property tax rate of 0.99%, the rates in Saint Bernice offer a unique perspective on the local property tax landscape.
Average Saint Bernice Tax Bill
$316
Average Vermillion County Tax Bill
$864
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Bernice, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47875 | $117 | $196 | $316 | $631 | $1,414 |
Source: Ownwell