Sunman, Franklin County, Indiana Property Taxes
Median Sunman, IN effective property tax rate: 0.64%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Sunman, IN home value: $204,900
Median annual Sunman, IN tax bill: $1,350, $1,050 lower than the national median property tax bill of $2,400.
How are property taxes in Franklin County calculated?
Property taxes in Sunman, IN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Sunman’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Sunman, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Sunman, Franklin County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.64%
Estimate Property Tax Bill
$1,311
$1,217
Ownwell’s Sunman Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sunman with just two data points.
By entering your property's estimated assessed value, our calculator applies Sunman’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Franklin County — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Franklin County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Sunman, Franklin County, Indiana
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Sunman’s effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S.
In Sunman, located in Franklin County, the property tax rate is relatively lower than the national median property tax rate of 1.02%. Indiana's median property tax rate is 0.64%, which is significantly below the national average. This makes Indiana an attractive option for property owners seeking lower tax burdens. The state’s effective property tax rate is also consistent across different regions, with Sunman reflecting the same rate. This consistency offers predictability for homeowners and potential buyers, making it easier to estimate annual tax expenses. Understanding these rates can help property owners make informed decisions about appealing their property taxes or seeking exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Sunman Tax Rate
0.64%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Franklin County Tax Rate
0.79%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Sunman, Franklin County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47041 | 0.36% | 0.56% | 0.64% | 0.90% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Sunman, Franklin County, Indiana
When examining property taxes in Sunman, Indiana, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Franklin County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Franklin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Sunman. For example, the median home price in Sunman is $204,900, with tax bills ranging significantly across the county. Zip code 47041 has the highest median home price at $204,900.
Property Tax Assessment Values Across Sunman, Franklin County, Indiana
Source: Ownwell
$95,750
$178,975
$262,200
Median Sunman Market Value
$204,900
Median Franklin County Market Value
$167,400
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Sunman, Franklin County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47041 | $101,420 | $151,075 | $204,900 | $266,850 | $359,400 |
Source: Ownwell
Property Tax Bills Across Sunman, Franklin County, Indiana
In Sunman, Franklin County, Indiana, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local assessor's office and reflects the property's market value. Homeowners in Sunman experience a median property tax bill of $1,350, which is significantly below the national median of $2,400. Factors such as the property's location, size, and improvements can influence the assessed value, and consequently, the tax bill. For homeowners, these taxes are a significant annual expense, impacting their overall cost of homeownership.
Ownwell provides a valuable service by assisting homeowners in appealing their property tax assessments, potentially leading to reduced tax bills. By analyzing assessment data and identifying discrepancies, Ownwell can help ensure that homeowners are not overpaying on their taxes. With expert guidance and support, homeowners in Sunman can achieve substantial savings, easing the financial burden associated with property taxes. Let Ownwell be your partner in navigating the complexities of property tax assessments and securing the savings you deserve.
Median Sunman Tax Bill
$1,350
Median Franklin County Tax Bill
$1,329
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Sunman, Franklin County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47041 | $514 | $813 | $1,350 | $2,045 | $2,796 |
Source: Ownwell