Morristown, Rush County, Indiana Property Taxes
Median Morristown, IN effective property tax rate: 0.93%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Morristown, IN home value: $231,050
Median annual Morristown, IN tax bill: $2,078, $322 lower than the national median property tax bill of $2,400.
How are property taxes in Rush County calculated?
Property taxes in Morristown, 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 Morristown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Morristown, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Morristown, Rush County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.93%
Estimate Property Tax Bill
$2,149
$1,994
Property Tax Rates Across Morristown, Rush County, Indiana
Local government entities in Indiana set tax rates, which can vary widely within the state. This is because each county annually 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.
Below, you can compare Morristown’s effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S. Morristown, located in Shelby County, has a median property tax rate of 0.93%, which is below the national median of 1.02%. This rate is consistent across the state, as the highest and lowest median tax rates in Indiana are also 0.93%. The median property tax bill in Morristown is also likely to be lower than the national median of $2,400, making it an attractive location for property owners seeking lower tax burdens.
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 Morristown Tax Rate
0.93%
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 Rush County Tax Rate
0.92%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Morristown, Rush County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46161 | 0.60% | 0.65% | 0.93% | 1.15% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Morristown, Rush County, Indiana
When examining property taxes in Morristown, 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 Rush 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 Rush 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 Morristown. For example, the median home price in Morristown is $231,050, with tax bills ranging significantly across the county. Zip code 46161 has the highest median home price at $231,050.
Property Tax Assessment Values Across Morristown, Rush County, Indiana
Source: Ownwell
$58,500
$148,675
$238,850
Median Morristown Market Value
$231,050
Median Rush County Market Value
$138,800
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Morristown, Rush County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46161 | $117,240 | $166,525 | $231,050 | $312,500 | $416,120 |
Source: Ownwell
Property Tax Bills Across Morristown, Rush County, Indiana
In Morristown, Indiana, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax authorities and reflects the estimated market value of the property. Homeowners in Morristown face a median property tax bill of $2,078, which is slightly below the national median of $2,400. Factors influencing these tax bills include the property's location, size, and any improvements made. For some, the tax bill can be as low as $1,125, while others may see it rise to $4,203 depending on their property's assessed value and applicable exemptions.
High property taxes can significantly impact homeowners, making it crucial to explore ways to reduce these expenses. Ownwell offers valuable assistance by identifying potential savings through property tax appeals and exemptions. By leveraging their expertise, homeowners can potentially lower their tax bills, ensuring they pay only their fair share. Ownwell's services are designed to simplify the process, providing peace of mind and financial relief to property owners in Morristown.
Median Morristown Tax Bill
$2,078
Median Rush County Tax Bill
$1,215
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Morristown, Rush County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46161 | $754 | $1,125 | $2,078 | $3,675 | $4,203 |
Source: Ownwell