Warren, Indiana Property Taxes
The median property tax rate in Warren, IN is 0.48%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Warren at $205,800, the typical annual property tax bill is $1,060, well below the national median of $2,690. Property taxes in Warren are calculated based on the assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Warren'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 Warren 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
Warren, 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 Warren Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warren with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warren 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 Warren, Indiana
Property taxes in Warren, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warren is 0.48%, lower than the U.S. national median of 0.99%. Local government entities within Warren set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warren 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 Warren's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46792 has both the highest and lowest median property tax rate of 0.48%. Understanding how these cities compare with Warren provides valuable insights into the varying tax landscape across Wells County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Warren Tax Rate
0.48%
Average Wells County Tax Rate
0.56%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warren, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46792 | 0.33% | 0.40% | 0.48% | 0.70% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Warren, Indiana
In Warren, 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 Wells 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 Warren, 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. Zip code 46792 has both the highest and lowest median tax bill at $1060. 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 Warren helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Warren Assessed Value
$205,800
Average Wells County Assessed Value
$188,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Warren, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46792 | $95,390 | $155,300 | $205,800 | $294,250 | $371,080 |
Source: Ownwell
Property Tax Bills Across Warren, Indiana
In Warren, located in Wells County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who consider factors such as the property's size, age, location, and condition. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. For homeowners in Warren, the median home price is $205,800. The property tax bills can vary significantly, ranging from the 25th percentile at $651 to the 75th percentile at $1,622, and reaching up to the 90th percentile at $2,319. These variations depend on the assessed value of the property and the applicable tax rates. Compared to the national median property tax rate of 0.99%, Warren's property tax rates can be seen as moderate, offering some relief to homeowners. Understanding how these factors interplay helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Warren Tax Bill
$1,060
Average Wells County Tax Bill
$1,092
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Warren, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46792 | $392 | $651 | $1,060 | $1,622 | $2,319 |
Source: Ownwell