Rockport, Spencer County, Indiana Property Taxes
Median Rockport, IN effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Rockport, IN home value: $112,950
Median annual Rockport, IN tax bill: $700, $1,700 lower than the national median property tax bill of $2,400.
How are property taxes in Spencer County calculated?
Property taxes in Rockport, 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 Rockport’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rockport, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Rockport, Spencer County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.61%
Estimate Property Tax Bill
$689
$639
Property Tax Rates Across Rockport, Spencer County, Indiana
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
Rockport, located in Spencer County, Indiana, offers an interesting case study in property tax rates. Rockport’s effective property tax rate stands at 0.61%, which is considerably lower than the national median property tax rate of 1.02%. This lower rate can significantly impact homeowners, potentially leading to lower annual tax bills compared to other regions. When comparing Rockport’s tax rate to other cities in Indiana, it is evident that homeowners in Rockport benefit from a more favorable tax environment. The median property tax rate in Indiana also reflects this trend, being lower than the national average.
Understanding these differences is crucial for property owners and potential buyers, as property taxes can influence overall affordability and long-term financial planning.
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 Rockport Tax Rate
0.61%
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 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 Rockport, Spencer County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47635 | 0.29% | 0.45% | 0.61% | 1.09% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Rockport, Spencer County, Indiana
When examining property taxes in Rockport, 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 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 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 Rockport.
For example, the median home price in Rockport is $112,950, with tax bills ranging significantly across the county. 47635 has the highest median home price at $112,950.
Property Tax Assessment Values Across Rockport, Spencer County, Indiana
Source: Ownwell
$18,650
$116,025
$213,400
Median Rockport Market Value
$112,950
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 Rockport, Spencer County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47635 | $23,500 | $56,875 | $112,950 | $184,425 | $260,950 |
Source: Ownwell
Property Tax Bills Across Rockport, Spencer County, Indiana
Median Rockport Tax Bill
$700
Median Spencer County Tax Bill
$731
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Rockport, Spencer County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47635 | $166 | $352 | $700 | $1,250 | $1,805 |
Source: Ownwell