Oxford, Indiana Property Taxes
The median property tax rate in Oxford, IN is 0.45%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $98,800 in Oxford, the typical annual property tax bill is approximately $447, well below the national median of $2,690. Property taxes in Oxford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Oxford'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 Oxford or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oxford, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$445
Ownwell’s Oxford Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Oxford with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Oxford to provide an estimated property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, ensuring you are well-informed. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Oxford, Indiana
Property taxes in Oxford, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxford is 0.45%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Oxford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxford 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 Oxford's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47971 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these cities compare with Oxford provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oxford Tax Rate
0.45%
Average Warren County Tax Rate
0.86%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oxford, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47971 | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Oxford, Indiana
In Oxford, Indiana, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Warren County Assessor for tax purposes. Conversely, 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 Oxford, 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 Oxford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Oxford are both $447, with the zip code 47971.
Average Oxford Assessed Value
$98,800
Average Warren County Assessed Value
$119,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oxford, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47971 | $98,800 | $98,800 | $98,800 | $98,800 | $98,800 |
Source: Ownwell
Property Tax Bills Across Oxford, Indiana
In Oxford, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For instance, if the median home price in Oxford is $98,800, then the assessed value will be a fraction of this amount. The property tax rate in Warren County is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, location, and market trends can influence the assessed value. Homeowners in Oxford can expect a median tax bill of $447, which is significantly lower than the national median property tax rate of 0.99%. This relatively low property tax can be a financial relief for homeowners, making Oxford an attractive place for property investment. The consistent tax bill across different percentiles indicates a stable and predictable tax environment for residents.
Average Oxford Tax Bill
$447
Average Warren County Tax Bill
$1,064
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Oxford, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47971 | $447 | $447 | $447 | $447 | $447 |
Source: Ownwell