Converse, Indiana Property Taxes
The median property tax rate in Converse, Indiana, is 0.46%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Converse at $237,400, the typical annual property tax bill is $1,371, well below the national median of $2,690. Property taxes in Converse 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 Converse'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 Converse 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
Converse, 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 Converse Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Converse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Converse 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 Converse, Indiana
Property taxes in Converse, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Converse is 0.85%, which is higher than the Indiana state median of 0.70% but still below the U.S. national median of 0.99%. Local government entities within Converse set these rates annually, and they can vary significantly across different neighborhoods. Each year, Converse estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all assessed 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 Converse's effective property tax rate to other counties in Indiana and the national median. For comparison, the highest median property tax rate in the county is 0.85%, while the lowest median tax rate is also 0.85%. Understanding how these cities compare with Converse 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 Converse Tax Rate
0.46%
Average Wabash County Tax Rate
0.73%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Converse, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46919 | 0.32% | 0.42% | 0.46% | 0.50% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Converse, Indiana
In Converse, 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 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 Converse, 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 Converse helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 46919, both at $1371.
Average Converse Assessed Value
$237,400
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 Converse, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46919 | $133,850 | $192,900 | $237,400 | $339,850 | $391,650 |
Source: Ownwell
Property Tax Bills Across Converse, Indiana
In Converse, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. This value reflects the market value of the property, adjusted annually to account for changes in the real estate market. Homeowners in Converse, located in Wabash County, should expect their tax bills to be influenced by the local tax rate and any applicable exemptions. The median home price in Converse is $237,400. For homeowners, this translates to a median property tax bill of approximately $1,371, which is slightly above the national median property tax rate of 0.99%. However, tax bills can vary significantly; the 25th percentile tax bill is around $791, while the 75th percentile reaches up to $1,790, and the 90th percentile can be as high as $2,166. These variations depend on the specific property's assessed value and any exemptions or deductions the homeowner qualifies for. Understanding these factors is crucial for homeowners to anticipate their annual property tax expenses accurately.
Average Converse Tax Bill
$1,371
Average Wabash County Tax Bill
$952
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Converse, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46919 | $716 | $791 | $1,371 | $1,790 | $2,166 |
Source: Ownwell