Huntington, Indiana Property Taxes
The median property tax rate in Huntington, IN is 0.50%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Huntington at $230,050, the typical annual property tax bill amounts to $1,137, well below the national median of $2,690. Property taxes in Huntington are calculated based on the assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Huntington'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 Huntington 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
Huntington, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$1,150
Ownwell’s Huntington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huntington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntington 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 Huntington, Indiana
Property taxes in Huntington, Indiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntington is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Huntington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntington 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 Huntington's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46750 zip code has the highest median property tax rate of 0.91%, while the same zip code also represents the lowest median tax rate of 0.91%. Understanding how these cities compare with Huntington provides valuable insights into the varying tax landscape across Huntington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huntington Tax Rate
0.50%
Average Wabash County Tax Rate
0.73%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46750 | 0.49% | 0.49% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Huntington, Indiana
In Huntington, 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 local 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 Huntington, 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 Huntington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Huntington is $230,050, with median tax bills ranging from $914 at the 25th percentile to $1,493 at the 90th percentile. The highest and lowest median tax bills are both $1,137, occurring in the 46750 zip code.
Average Huntington Assessed Value
$230,050
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 Huntington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46750 | $155,210 | $183,275 | $230,050 | $276,825 | $304,890 |
Source: Ownwell
Property Tax Bills Across Huntington, Indiana
In Huntington, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. For homeowners in Huntington, understanding this process is crucial as it directly impacts their annual tax obligations. Factors such as property size, location, and condition are considered when determining the assessed value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. In Huntington, the median home price is $230,050, resulting in varying tax bills across different percentiles. For instance, homeowners at the 25th percentile pay around $914, while those at the 75th percentile see bills closer to $1,359. At the 90th percentile, tax bills can reach up to $1,493. This system ensures that property taxes are proportionate to the property's value, affecting homeowners' annual financial planning and the overall affordability of owning property in Huntington.
Average Huntington Tax Bill
$1,137
Average Wabash County Tax Bill
$952
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46750 | $780 | $914 | $1,137 | $1,359 | $1,493 |
Source: Ownwell