Idaville, Indiana Property Taxes
The median property tax rate in Idaville, IN is 0.57%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Idaville at $115,300, the typical annual property tax bill is $661, well below the national median of $2,690. Property taxes in Idaville 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 Idaville'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 Idaville or another part of White County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Idaville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$657
Ownwell’s Idaville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Idaville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Idaville 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 Idaville, Indiana
Property taxes in Idaville, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Idaville is 0.57%, significantly lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Idaville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Idaville 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 Idaville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47950 zip code has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Idaville provides valuable insights into the varying tax landscape across White County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Idaville Tax Rate
0.57%
Average White County Tax Rate
0.74%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Idaville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47950 | 0.26% | 0.39% | 0.57% | 1.03% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Idaville, Indiana
In Idaville, 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 White 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 Idaville, 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 Idaville 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 in Idaville is 47950, with a median tax bill of $661.
Average Idaville Assessed Value
$115,300
Average White County Assessed Value
$154,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Idaville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47950 | $31,120 | $62,400 | $115,300 | $178,150 | $247,480 |
Source: Ownwell
Property Tax Bills Across Idaville, Indiana
In Idaville, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Idaville, located in White County, experience property tax rates that can vary significantly. The tax bill at the 25th percentile is $318, while at the 75th percentile, it climbs to $1,236. For those at the 90th percentile, the tax bill reaches $2,120. Several factors influence these tax bills, including the home's assessed value, local tax rates, and applicable exemptions. The median home price in Idaville is $115,300, which serves as a baseline for many tax calculations. Compared to the national median property tax rate of 0.99%, Idaville's property taxes can be considered relatively moderate. However, the variability in tax bills means that homeowners may face different financial impacts depending on their property's assessed value and the specific tax rates applied.
Average Idaville Tax Bill
$661
Average White County Tax Bill
$1,109
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Idaville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47950 | $155 | $318 | $661 | $1,236 | $2,120 |
Source: Ownwell