Amboy, Wabash County, Indiana Property Taxes
The median property tax rate in Amboy, Indiana is 0.44%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Amboy at $138,700, the typical annual property tax bill amounts to $534, which is well below the national median of $2,690. Property taxes in Amboy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Amboy'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 Amboy or another part of Wabash County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amboy, Wabash County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$610
$566
Ownwell’s Amboy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amboy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amboy 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 Amboy, Wabash County, Indiana
Property taxes in Amboy, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amboy is 0.44%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Amboy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amboy 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 Amboy's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46911 has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with Amboy provides valuable insights into the varying tax landscape across Wabash County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amboy Tax Rate
0.44%
Average Wabash County Tax Rate
0.73%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amboy, Wabash County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46911 | 0.22% | 0.33% | 0.44% | 0.55% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Amboy, Wabash County, Indiana
In Amboy, 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 Wabash 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 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 Amboy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 46911 has the highest median tax bill at $534, which is also the lowest in the area.
Property Tax Assessment Values Across Amboy, Wabash County, Indiana
Source: Ownwell
$49,400
$143,400
$237,400
Average Amboy Assessed Value
$138,700
Average Wabash County Assessed Value
$126,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amboy, Wabash County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46911 | $61,880 | $105,675 | $138,700 | $190,400 | $333,950 |
Source: Ownwell
Property Tax Bills Across Amboy, Wabash County, Indiana
In Amboy, located in Wabash County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Amboy is $138,700, and the property tax rate is applied to this value to calculate the tax owed. Several factors influence the tax bill, including property market conditions, improvements made to the property, and local government budgets. For instance, the tax bill in the 25th percentile is $301, while in the 75th percentile, it rises to $1,111, and in the 90th percentile, it reaches $2,168. This variation reflects differences in property values and the specific tax rates applied. Homeowners in Amboy should be aware of these factors as they can significantly impact their annual expenses. Comparing this to the national median property tax rate of 0.99%, homeowners in Amboy might find their rates relatively manageable but should stay informed about local assessments to anticipate changes in their tax bills.
Average Amboy Tax Bill
$534
Average Wabash County Tax Bill
$952
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Amboy, Wabash County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46911 | $205 | $301 | $534 | $1,111 | $2,168 |
Source: Ownwell