Gosport, Owen County, Indiana Property Taxes
Median Gosport, IN effective property tax rate: 0.75%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Gosport, IN home value: $136,050
Median annual Gosport, IN tax bill: $1,076, $1,324 lower than the national median property tax bill of $2,400.
How are property taxes in Owen County calculated?
Property taxes in Gosport, 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 Gosport’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Gosport, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Gosport, Owen County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.75%
Estimate Property Tax Bill
$1,020
$947
Property Tax Rates Across Gosport, Owen County, Indiana
Local government entities determine tax rates, leading to significant variations within a state. Each year, counties estimate their budgetary needs for services and divide this by the total value of all taxable properties in their area, resulting in the property tax rate. This process involves votes and legal considerations, but essentially, it's an annual routine.
In Gosport, located in Owen County, Indiana, the effective property tax rate can be compared to other cities within the state and with both the state and national medians. Indiana's median property tax rate is 0.75%, which is lower than the national median of 1.02%. This relatively low rate can make Indiana an appealing option for property owners seeking lower tax bills. In contrast, the national median property tax bill is $2,400, underscoring the potential savings in Indiana.
Understanding these variations is crucial for property owners who are considering appealing their property taxes or seeking exemptions. By comparing local rates with state and national figures, property owners in Gosport can make informed decisions to potentially reduce their tax burden.
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 Gosport Tax Rate
0.75%
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 Owen County Tax Rate
0.80%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Gosport, Owen County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47433 | 0.36% | 0.56% | 0.75% | 1.26% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Gosport, Owen County, Indiana
When examining property taxes in Gosport, 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 Owen County assessor 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.
Assessment notices: In Owen 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 Gosport.
For example, the median home price in Gosport is $136,050, with tax bills ranging significantly across the county. Zip code 47433 has the highest median home price at $136,050.
Property Tax Assessment Values Across Gosport, Owen County, Indiana
Source: Ownwell
$54,800
$123,200
$191,600
Median Gosport Market Value
$136,050
Median Owen County Market Value
$135,000
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Gosport, Owen County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47433 | $55,340 | $89,825 | $136,050 | $198,150 | $284,180 |
Source: Ownwell
Property Tax Bills Across Gosport, Owen County, Indiana
Median Gosport Tax Bill
$1,076
Median Owen County Tax Bill
$1,105
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Gosport, Owen County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47433 | $298 | $557 | $1,076 | $1,757 | $2,735 |
Source: Ownwell