Knox, St. Joseph County, Indiana Property Taxes

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. 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 KNOX’s effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S.

In KNOX, located in county 18141, property owners experience an effective tax rate that reflects the economic and fiscal policies of the area. The median property tax rate in Indiana is 0.92%, which is below the national median of 1.02%. This indicates that homeowners in Indiana generally face lower property tax rates compared to the national average. However, the actual tax bill can vary significantly based on the assessed value of the property. Comparing these figures helps property owners understand their tax obligations and potentially identify opportunities for tax appeals or exemptions.

In Knox, located in St. Joseph County, Indiana, property tax bills are calculated based on the assessed value of a property. The local government assesses this value to determine the amount homeowners owe. Factors such as property size, location, and market trends influence this assessment. The median home price in Knox is $263,800, which plays a significant role in determining the property tax bill. The tax bill at the 25th, 75th, and 90th percentiles is consistently $2,414, aligning closely with the national median property tax bill of $2,400. This consistency indicates a stable property tax environment for homeowners in Knox.

Homeowners may feel the pinch of these taxes, especially if their property is assessed at a higher value. This is where Ownwell comes into play. By offering property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax burden. With expert analysis and personalized guidance, Ownwell ensures that homeowners in Knox pay only their fair share, providing peace of mind and potential savings.