Remington, Indiana Property Taxes
The median property tax rate in Remington, IN is 0.64%, which is significantly lower than both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $252,600 in Remington, the typical annual property tax bill amounts to $1,722, well below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Remington'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 Remington or another part of White County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Remington, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,617
Ownwell’s Remington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Remington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Remington 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 Remington, Indiana
Property taxes in Remington, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Remington is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Remington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Remington 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 Remington's effective property tax rate to other areas and the national median. For comparison, the zip code 47977 has both the highest and lowest median property tax rate of 0.64%, showcasing uniformity within the region. Understanding how these rates compare with Remington 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 Remington Tax Rate
0.64%
Average White County Tax Rate
0.74%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Remington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47977 | 0.45% | 0.52% | 0.64% | 0.90% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Remington, Indiana
In Remington, 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. 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 Remington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Remington is $252,600, with property tax bills ranging from $710 at the 25th percentile to $6,367 at the 90th percentile. The zip code 47977 has the highest and lowest median tax bills, both at $1,722.
Average Remington Assessed Value
$252,600
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 Remington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47977 | $118,300 | $150,300 | $252,600 | $388,600 | $546,300 |
Source: Ownwell
Property Tax Bills Across Remington, Indiana
In Remington, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate. For example, if a home in Remington is assessed at $252,600, the tax bill will vary depending on the specific rate applied by the county. Factors such as property improvements, market conditions, and neighborhood characteristics can influence the assessed value. Homeowners in Remington may see tax bills ranging from $710 at the 25th percentile to $6,367 at the 90th percentile. The median property tax bill in Remington is notably lower than the national median property tax rate of 0.99%. This can significantly affect homeowners, as lower property taxes can make homeownership more affordable and appealing. However, it’s important for homeowners to stay informed about any changes in local tax rates or assessed values, as these can impact their annual tax bills.
Average Remington Tax Bill
$1,722
Average White County Tax Bill
$1,109
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Remington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47977 | $553 | $710 | $1,722 | $2,366 | $6,367 |
Source: Ownwell