Cromwell, Kosciusko County, Indiana Property Taxes
Median Cromwell, IN effective property tax rate: 0.56%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%. Median Cromwell, IN home value: $142,600. Median annual Cromwell, IN tax bill: $646, $1,754 lower than the national median property tax bill of $2,400.
How are property taxes in Kosciusko calculated?
Property taxes in Cromwell, 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 Cromwell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cromwell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cromwell, Kosciusko County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.56%
Estimate Property Tax Bill
$799
$741
Property Tax Rates Across Cromwell, Kosciusko County, Indiana
Local government entities in Indiana set property tax rates, and these can vary significantly across different areas. This variation stems from each county's annual budget estimation process. Counties estimate their required budget to fund services and then divide this by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Although voting and legislation play a part in setting these rates and budgets, this is essentially how the process unfolds each year.
In Cromwell, located in Kosciusko County, the effective property tax rate can be compared to other cities in Indiana as well as the median property tax rates across the state and the nation. Indiana's median property tax rate is notably lower than the national median, making it an appealing state for property owners concerned with tax expenses. By understanding how these tax rates are determined and comparing them to broader benchmarks, property owners can make informed decisions about their investments and potential savings through tax appeals or 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 Cromwell Tax Rate
0.56%
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 Kosciusko County Tax Rate
0.79%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cromwell, Kosciusko County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46732 | 0.28% | 0.37% | 0.56% | 0.81% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Cromwell, Kosciusko County, Indiana
When examining property taxes in Cromwell, IN, 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 Kosciusko 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 Kosciusko 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 Cromwell. For example, the median home price in Cromwell is $142,600, with tax bills ranging significantly across the county. Zip code 46732 has the highest median home price at $142,600.
Property Tax Assessment Values Across Cromwell, Kosciusko County, Indiana
Source: Ownwell
$76,200
$210,000
$343,800
Median Cromwell Market Value
$142,600
Median Kosciusko County Market Value
$191,600
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cromwell, Kosciusko County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46732 | $19,360 | $37,225 | $142,600 | $238,850 | $361,030 |
Source: Ownwell
Property Tax Bills Across Cromwell, Kosciusko County, Indiana
In Cromwell, Kosciusko County, IN, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and is a crucial factor in calculating the tax bill. Homeowners in Cromwell face varying tax bills, with the 25th percentile at $246 and the 75th percentile at $1,262. The 90th percentile tax bill reaches $2,275, which is significantly higher than the national median property tax bill of $2,400. These figures highlight the impact of property tax assessments on homeowners, as they can lead to substantial financial obligations.
Ownwell offers a solution for homeowners looking to reduce their property tax burden. By providing expert property tax appeal and exemption services, Ownwell helps homeowners ensure their property is fairly assessed, potentially lowering their tax bills. This can result in significant savings, offering peace of mind and financial relief. With Ownwell's assistance, homeowners can navigate the complexities of property tax assessments with confidence.
Median Cromwell Tax Bill
$646
Median Kosciusko County Tax Bill
$1,442
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Cromwell, Kosciusko County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46732 | $115 | $246 | $646 | $1,262 | $2,275 |
Source: Ownwell