Florence, Switzerland County, Indiana Property Taxes
Median Florence, IN effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%. Median Florence, IN home value: $90,900. Median annual Florence, IN tax bill: $657, $1,743 lower than the national median property tax bill of $2,400.
How are property taxes in Switzerland County calculated?
Property taxes in Florence, 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 Florence’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Florence, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Florence, Switzerland County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.73%
Estimate Property Tax Bill
$664
$616
Property Tax Rates Across Florence, Switzerland County, Indiana
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 Florence Tax Rate
0.73%
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 Switzerland County Tax Rate
0.80%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Florence, Switzerland County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47020 | 0.39% | 0.54% | 0.73% | 1.43% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Florence, Switzerland County, Indiana
When examining property taxes in Florence, 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 Switzerland 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 Switzerland 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 Florence. For example, the median home price in Florence is $90,900, with tax bills ranging significantly across the county. Zip code 47020 has the highest median home price at $90,900.
Property Tax Assessment Values Across Florence, Switzerland County, Indiana
Source: Ownwell
$45,800
$80,375
$114,950
Median Florence Market Value
$90,900
Median Switzerland County Market Value
$86,100
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Florence, Switzerland County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47020 | $25,020 | $54,675 | $90,900 | $130,225 | $173,810 |
Source: Ownwell
Property Tax Bills Across Florence, Switzerland County, Indiana
In Florence, Switzerland County, Indiana, property tax bills are calculated based on the assessed value of a home. This value is determined by the local assessor and reflects the property's market value. Homeowners in this area face a median property tax bill of $657, which is significantly lower than the national median of $2,400. The property tax rate here contributes to making homeownership more affordable compared to many other regions. Factors such as property location, size, and improvements can influence the assessed value, subsequently affecting the tax bill. Homeowners may find themselves paying anywhere from the 25th percentile tax bill of $343 to the 90th percentile of $1,692, depending on these variables.
Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions. By leveraging our expertise, homeowners can ensure their property is fairly assessed, potentially reducing their tax burden. Our services are designed to maximize savings and provide peace of mind, allowing homeowners to focus on what truly matters.
Median Florence Tax Bill
$657
Median Switzerland County Tax Bill
$696
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Florence, Switzerland County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47020 | $200 | $343 | $657 | $1,094 | $1,692 |
Source: Ownwell