Evansville, Indiana Property Taxes
The median property tax rate in Evansville, IN is 0.78%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Evansville at $165,100, the typical annual property tax bill amounts to $1,224, significantly below the national median of $2,690. Property taxes in Evansville are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Evansville'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 Evansville or another part of the city, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Evansville, 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 Evansville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Evansville with just two data inputs. By entering your property's estimated assessed value, the calculator applies the median tax rate in Evansville to project your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in neighborhood-specific trends, more localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Evansville, Indiana
Property taxes in Evansville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Evansville is 0.78%, lower than the U.S. national median of 0.99%. Local government entities within Evansville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Evansville 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 Evansville's effective property tax rate to other areas in Warrick County and the national median. For comparison, the 47712 zip code has the highest median property tax rate of 1.30%, while the 47725 zip code has the lowest median tax rate of 0.53%. Understanding how these areas compare with Evansville 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 Evansville Tax Rate
0.78%
Average Warrick County Tax Rate
0.75%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Evansville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47712 | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% |
| 47725 | 0.52% | 0.52% | 0.53% | 0.78% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Evansville, Indiana
In Evansville, 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 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 Evansville, 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. The zip code with the highest median tax bill is 47712 at $1,477, while the lowest is 47725 at $971. Being aware of these valuation processes in Evansville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Evansville Assessed Value
$165,100
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 Evansville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47712 | $113,800 | $113,800 | $113,800 | $113,800 | $113,800 |
| 47725 | $158,520 | $162,750 | $176,300 | $196,650 | $213,120 |
Source: Ownwell
Property Tax Bills Across Evansville, Indiana
In Evansville, Warrick County, IN, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, the median home price in Evansville is $165,100, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $934 annually, while those in the 75th percentile see bills closer to $1,535. The highest median tax bill recorded in the city is $1,477 in the 47712 zip code, whereas the lowest is $971 in the 47725 zip code. Compared to the national median property tax rate of 0.99%, Evansville's property tax rates are relatively moderate, offering some relief to homeowners. Understanding these factors can help homeowners anticipate their annual tax obligations and manage their finances effectively.
Average Evansville Tax Bill
$1,224
Average Warrick County Tax Bill
$1,576
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Evansville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47712 | $1,477 | $1,477 | $1,477 | $1,477 | $1,477 |
| 47725 | $853 | $898 | $971 | $1,340 | $1,561 |
Source: Ownwell