Bicknell, Knox County, Indiana Property Taxes
Median Bicknell, IN effective property tax rate: 0.97%, slightly lower than the national median of 1.02%, but also lower than the Indiana state median of 0.99%.
Median Bicknell, IN home value: $48,400
Median annual Bicknell, IN tax bill: $525, $1,875 lower than the national median property tax bill of $2,400.
How are property taxes in Knox calculated?
Property taxes in Bicknell, 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 Bicknell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bicknell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bicknell, Knox County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.97%
Estimate Property Tax Bill
$469
$436
Ownwell’s Bicknell Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bicknell with just two data points.
By entering your property's estimated assessed value, our calculator applies Bicknell’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your 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 Knox County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Bicknell, Knox County, Indiana
Local government entities in Bicknell, Knox County, set property tax rates, which can vary significantly within Indiana. Each year, the county determines its required budget to fund essential services and divides this amount by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although setting tax rates involves votes and legislation, this annual process is the essence of how rates are determined.
In Bicknell, the effective property tax rate aligns with the median rate in Indiana, which is 0.97%. This rate is slightly below the national median property tax rate of 1.02%. When comparing Bicknell's rate to other cities in Indiana, it is noteworthy that it remains consistent with the state’s median, highlighting a uniformity in tax assessment across the region. The property tax rate in Bicknell reflects a balance between maintaining necessary public services and managing the tax burden on property owners. This consistency provides a predictable environment for homeowners, contributing to the stability of the local real estate market.
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 Bicknell Tax Rate
0.97%
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 Knox County Tax Rate
0.90%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bicknell, Knox County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47512 | 0.39% | 0.67% | 0.97% | 1.82% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Bicknell, Knox County, Indiana
When examining property taxes in Bicknell, 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 Knox 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 Knox County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Bicknell. For example, the median home price in Bicknell is $48,400, with tax bills ranging significantly across the county. Zip code 47512 has the highest median home price at $48,400.
Property Tax Assessment Values Across Bicknell, Knox County, Indiana
Source: Ownwell
$29,200
$83,425
$137,650
Median Bicknell Market Value
$48,400
Median Knox County Market Value
$96,500
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bicknell, Knox County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47512 | $13,180 | $29,100 | $48,400 | $82,700 | $158,180 |
Source: Ownwell
Property Tax Bills Across Bicknell, Knox County, Indiana
In Bicknell, Knox County, Indiana, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value and apply a percentage rate to arrive at the assessed value. This figure is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Bicknell experience property tax bills that vary significantly, with the 25th percentile at $304 and the 90th percentile reaching $1,298. The median tax bill in the area is $525, considerably lower than the national median of $2,400, reflecting the relatively lower median home price of $48,400 in the region.
Ownwell assists homeowners by identifying potential savings on their property tax bills through appeals and exemptions. By analyzing property assessments and market conditions, Ownwell can challenge overvaluations and secure reductions, ensuring homeowners only pay their fair share. This service is particularly beneficial in areas like Bicknell, where even small percentage savings can significantly impact homeowners' financial well-being.
Median Bicknell Tax Bill
$525
Median Knox County Tax Bill
$903
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Bicknell, Knox County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47512 | $135 | $304 | $525 | $851 | $1,298 |
Source: Ownwell