Patoka, Pike County, Indiana Property Taxes

Name: Property Tax Bills Across Patoka, Pike County, Indiana
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Patoka, IN effective property tax rate: 1.57%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Patoka, IN home value: $218,300
Median annual Patoka, IN tax bill: $3,431, $1,031 higher than the national median property tax bill of $2,400.

How are property taxes in Pike County calculated?

Property taxes in Patoka, 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 Patoka’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Patoka, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Patoka, Pike County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.57%

Estimate Property Tax Bill

$3,427

$3,180

Ownwell’s Patoka Property Tax Bill Calculator offers a convenient solution for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Patoka using just two data points. By entering your property's estimated assessed value, our calculator utilizes Patoka’s median effective tax rate to provide an accurate estimate of your property tax bill. The assessed value, as determined by Pike County, incorporates any exemptions you may qualify for, ensuring a precise calculation of your property tax obligations. This valuable tool not only helps you understand potential tax liabilities but also demonstrates how Ownwell can assist in reducing property taxes in Pike County. If you're interested in gaining more localized insights, please scroll down to explore city-level trends!

Property Tax Rates Across Patoka, Pike County, Indiana

Local government entities determine tax rates, leading to significant variation within a state. This variation stems from each county's annual budget estimation for providing services, divided by the total value of all taxable property in the area. This calculation determines the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is the core process followed each year.

In Patoka, located in Pike County, Indiana, the effective property tax rate is a point of comparison to other cities in Indiana and the national landscape. Indiana's median property tax rate is notably higher than the national median of 1.02%. This comparison underscores the importance of understanding local tax obligations, as they can significantly impact property owners. By analyzing these differences, property owners in Patoka can gain insights into their tax liabilities relative to other regions. Such information is crucial for making informed decisions about property investments and understanding the financial commitments associated with property ownership in Indiana.

Property Tax Rates Across Patoka, Pike County, Indiana

Source: Ownwell

0.94%

1.43%

1.91%

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 Patoka Tax Rate

1.57%

Median Effective Pike County Tax Rate

1.08%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Patoka, Pike County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
47666	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Patoka, Pike County, Indiana

When examining property taxes in Patoka, 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 Pike 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 Pike 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 Patoka. For example, the median home price in Patoka is $218,300, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Patoka, Pike County, Indiana

Source: Ownwell

$60,700

$136,650

$212,600

Median Patoka Market Value

$218,300

Median Pike County Market Value

$98,750

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Patoka, Pike County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
47666	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Patoka, Pike County, Indiana

In Patoka, located in Pike County, Indiana, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is $218,300, and property tax rates are applied to this assessed value to determine the annual tax bill. Unlike the national median property tax rate of 1.02%, Patoka homeowners face a uniform tax bill of $3,431 at the 25th, 75th, and 90th percentiles, indicating a potential area of concern for homeowners who might be overpaying compared to the national median property tax bill of $2,400. This discrepancy can significantly affect homeowners, as higher property taxes can strain household budgets. Ownwell offers a solution by providing property tax appeal and exemption services. By leveraging expert knowledge and local data, Ownwell can help homeowners challenge their tax assessments, potentially reducing their tax bills and ensuring they pay only their fair share. This service can lead to substantial savings and financial relief for homeowners in Patoka.

Property Tax Bills Across Patoka, Pike County, Indiana

Source: Ownwell

$764

$1,482

$2,200

Median Patoka Tax Bill

$3,431

Median Pike County Tax Bill

$1,051

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Patoka, Pike County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
47666	N/A	N/A	N/A	N/A	N/A

Source: Ownwell