Chandler, Indiana Property Taxes
The median property tax rate in Chandler, IN is 0.74%, notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Chandler, the typical annual property tax bill amounts to $1,122, which is significantly less than the national median of $2,690. Property taxes in Chandler 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 Chandler'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 Chandler 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
Chandler, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,029
Ownwell’s Chandler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chandler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chandler 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 Chandler, Indiana
Property taxes in Chandler, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chandler is 0.74%, which is below the U.S. national median of 0.99%. Local government entities within Chandler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chandler 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 Chandler's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47610 has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Chandler provides valuable insights into the varying tax landscape across Warrick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chandler Tax Rate
0.74%
Average Warrick County Tax Rate
0.75%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chandler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47610 | 0.42% | 0.59% | 0.74% | 0.99% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Chandler, Indiana
In Chandler, 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 Warrick 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. In Chandler, 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 Chandler 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 bill is 47610, with a median tax bill of $1,122.
Average Chandler Assessed Value
$139,100
Average Warrick County Assessed Value
$208,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chandler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47610 | $61,900 | $93,775 | $139,100 | $203,025 | $308,100 |
Source: Ownwell
Property Tax Bills Across Chandler, Indiana
In Chandler, property tax bills are calculated based on the assessed value of the home, which is determined by local government assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Chandler, the median home price is $139,100, and the property tax rate in Warrick County is reflective of the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, the 25th percentile tax bill in Chandler is $618, while the 75th percentile tax bill is $1,787, indicating a range of tax burdens depending on individual property characteristics. At the higher end, the 90th percentile tax bill reaches $2,744. These property tax bills impact homeowners by contributing to the overall cost of owning a home. Understanding these factors can help homeowners plan their finances better and potentially seek exemptions or appeals to reduce their tax burden.
Average Chandler Tax Bill
$1,122
Average Warrick County Tax Bill
$1,576
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Chandler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47610 | $321 | $618 | $1,122 | $1,787 | $2,744 |
Source: Ownwell