Rensselaer, Jasper County, Indiana Property Taxes
Median Rensselaer, IN effective property tax rate: 0.49%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Rensselaer, IN home value: $152,500
Median annual Rensselaer, IN tax bill: $833, $1,567 lower than the national median property tax bill of $2,400.
How are property taxes in Jasper calculated?
Property taxes in Rensselaer, 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 Rensselaer’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rensselaer, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Rensselaer, Jasper County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.51%
Estimate Property Tax Bill
$851
$789
Property Tax Rates Across Rensselaer, Jasper County, Indiana
Local government entities, such as counties, determine property tax rates, which can vary significantly within a state. This variance occurs because each county annually estimates its necessary budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the yearly process.
Rensselaer in Jasper County, Indiana, offers a unique perspective on property tax rates. The effective property tax rate here stands at 0.49%, which is below the national median of 1.02%. This lower rate can be attractive for property owners seeking a more affordable tax environment. When comparing Rensselaer’s rate to other cities in Indiana, it aligns with the state's median, reflecting a consistent approach to property taxation within the region. This comparison highlights the potential savings for homeowners in Rensselaer compared to those facing higher rates elsewhere in the country. Understanding these differences can empower property owners to make informed decisions about their investments and financial planning.
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 Rensselaer Tax Rate
0.51%
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 Jasper County Tax Rate
0.53%
Median Effective Indiana Tax Rate
1.01%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Rensselaer, Jasper County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47978 | 0.34% | 0.41% | 0.51% | 0.73% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Rensselaer, Jasper County, Indiana
When examining property taxes in Rensselaer, 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 Jasper County appraisal district 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 Jasper County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Rensselaer. For example, the median home price in Rensselaer is $152,500, with tax bills ranging significantly across the county. Zip code 47978 has the highest median home price at $152,500.
Property Tax Assessment Values Across Rensselaer, Jasper County, Indiana
Source: Ownwell
$101,850
$178,725
$255,600
Median Rensselaer Market Value
$166,800
Median Jasper County Market Value
$205,000
Median Indiana Market Value
$186,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Rensselaer, Jasper County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47978 | $80,600 | $116,775 | $166,800 | $238,400 | $338,100 |
Source: Ownwell
Property Tax Bills Across Rensselaer, Jasper County, Indiana
Median Rensselaer Tax Bill
$925
Median Jasper County Tax Bill
$1,177
Median Indiana Tax Bill
$1,964
Median United States Tax Bill
$2,400
Property Tax Bills Across Rensselaer, Jasper County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47978 | $336 | $587 | $925 | $1,394 | $2,025 |
Source: Ownwell