Reo, Spencer County, Indiana Property Taxes

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

Median REO, IN effective property tax rate: 1.23%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median REO, IN home value: $20,300
Median annual REO, IN tax bill: $251, $2,149 lower than the national median property tax bill of $2,400.

How are property taxes in Spencer calculated?

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

Last Updated March 1, 2025

Reo, Spencer County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.23%

Estimate Property Tax Bill

$250

$232

Ownwell’s REO Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in REO with just two data points. By entering your property's estimated assessed value, our calculator applies REO’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Spencer County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Reo, Spencer County, Indiana

Local government entities set tax rates, which can vary widely within a state. This is 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. Below, you can compare REO’s effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S. Spencer County, where REO is located, has a median property tax rate of 1.23%. This is above the national median property tax rate of 1.02%. Consequently, residents in REO may find their property tax bills higher than the national average. Understanding these rates can help property owners make informed decisions about their investments and potential savings through property tax appeals or exemptions.

Property Tax Rates Across Reo, Spencer County, Indiana

Source: Ownwell

0.43%

0.78%

1.14%

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 Reo Tax Rate

1.23%

Median Effective Spencer County Tax Rate

0.59%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Reo, Spencer County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
47635	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Reo, Spencer County, Indiana

When examining property taxes in REO, 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 Spencer 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 Spencer 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 REO. For example, the median home price in REO is $20,300, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Reo, Spencer County, Indiana

Source: Ownwell

$18,650

$116,025

$213,400

Median Reo Market Value

$20,300

Median Spencer County Market Value

$127,000

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Reo, Spencer County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
47635	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Reo, Spencer County, Indiana

In REO, located in Spencer County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $20,300, homeowners often find their tax bills to be relatively low compared to the national median property tax bill of $2,400. For instance, the 25th percentile tax bill is around $115, while the 75th percentile reaches $294, and the 90th percentile is $325. Factors such as market trends, property improvements, and neighborhood developments can influence the assessed value, potentially raising tax bills. Homeowners in REO may find this financial burden challenging, especially if property values increase. This is where Ownwell can assist by providing expert property tax appeal and exemption services. By analyzing individual property assessments, Ownwell helps homeowners identify discrepancies and ensure they are not overpaying, ultimately saving them money on their property tax bills.

Property Tax Bills Across Reo, Spencer County, Indiana

Source: Ownwell

$160

$807

$1,453

Median Reo Tax Bill

$251

Median Spencer County Tax Bill

$731

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Reo, Spencer County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
47635	N/A	N/A	N/A	N/A	N/A

Source: Ownwell