Rockville, Parke County, Indiana Property Taxes
Median Rockville, 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 Rockville, IN home value: $138,900
Median annual Rockville, IN tax bill: $809, $1,591 lower than the national median property tax bill of $2,400.
How are property taxes in Parke County calculated?
Property taxes in Rockville, 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 Rockville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rockville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Rockville, Parke County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.56%
Estimate Property Tax Bill
$778
$722
Property Tax Rates Across Rockville, Parke County, Indiana
Local government entities set tax rates, which can vary widely within a state. Why? Because 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.
Rockville in Parke County, Indiana, showcases a property tax landscape that is notably different from many other regions. With an effective property tax rate of 0.56%, it stands out compared to the national median property tax rate of 1.02%. This means that homeowners in Rockville enjoy a lower tax rate, which can translate into significant savings over time. In comparison to both the state and national figures, Rockville's rate is quite favorable.
For residents, this lower tax rate can make homeownership more affordable and appealing. When considering a move or investment in property, understanding the local tax landscape is crucial. Rockville's competitive rate is a key factor for potential homeowners and investors to consider.
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 Rockville 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 Parke County Tax Rate
0.56%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Rockville, Parke County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47872 | 0.25% | 0.38% | 0.56% | 1.12% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Rockville, Parke County, Indiana
When examining property taxes in Rockville, 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 Parke 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 Parke 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 Rockville. For example, the median home price in Rockville is $138,900, with tax bills ranging significantly across the county. Zip code 47872 has the highest median home price at $138,900.
Property Tax Assessment Values Across Rockville, Parke County, Indiana
Source: Ownwell
$37,600
$122,750
$207,900
Median Rockville Market Value
$138,900
Median Parke County Market Value
$117,900
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Rockville, Parke County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47872 | $35,400 | $80,600 | $138,900 | $213,775 | $311,770 |
Source: Ownwell
Property Tax Bills Across Rockville, Parke County, Indiana
Median Rockville Tax Bill
$809
Median Parke County Tax Bill
$683
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Rockville, Parke County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47872 | $167 | $361 | $809 | $1,554 | $2,658 |
Source: Ownwell