Holland, Indiana Property Taxes
The median property tax rate in Holland, IN is 0.61%, which is significantly lower than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Holland at $222,800, the typical annual property tax bill is around $1,900, well below the national median of $2,690. Property taxes in Holland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Holland'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 Holland or another part of Warrick County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holland, 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 Holland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holland 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 Holland, Indiana
Property taxes in Holland, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holland is 0.61%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holland 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 Holland's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47541 has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Holland 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 Holland Tax Rate
0.61%
Average Warrick County Tax Rate
0.75%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47541 | 0.46% | 0.49% | 0.61% | 1.08% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Holland, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Holland, Indiana. 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. 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. In Holland, the median home price is $222,800. The tax bills range significantly, with the 25th percentile at $1,050 and the 75th percentile at $2,444. 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 Holland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holland Assessed Value
$222,800
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 Holland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47541 | $144,310 | $192,175 | $222,800 | $244,250 | $315,200 |
Source: Ownwell
Property Tax Bills Across Holland, Indiana
In Holland, located in Warrick County, IN, property tax bills are calculated based on the assessed value of the property. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any applicable exemptions or deductions. For homeowners in Holland, the median home price is $222,800. The property tax bills vary significantly, with the 25th percentile at $1,050, the 75th percentile at $2,444, and the 90th percentile reaching up to $2,490. This indicates a range of tax burdens depending on the property's assessed value and applicable exemptions. Comparatively, with the national median property tax rate at 0.99%, Holland's tax rates can be seen as moderate, offering a balance between affordability and the necessary funding for local services. These property taxes directly impact homeowners by influencing their annual expenses and potentially affecting property values and market dynamics in the region.
Average Holland Tax Bill
$1,900
Average Warrick County Tax Bill
$1,576
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Holland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47541 | $659 | $1,050 | $1,900 | $2,444 | $2,490 |
Source: Ownwell