Hobbs, Tipton County, Indiana Property Taxes
Median Hobbs, IN effective property tax rate: 1.41%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Hobbs, IN home value: $91,050
Median annual Hobbs, IN tax bill: $590, $1,810 lower than the national median property tax bill of $2,400.
How are property taxes in Tipton calculated?
Property taxes in Hobbs, 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 Hobbs’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hobbs, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hobbs, Tipton County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.41%
Estimate Property Tax Bill
$1,284
$1,191
Property Tax Rates Across Hobbs, Tipton 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 Hobbs Tax Rate
1.41%
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 Tipton County Tax Rate
0.79%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hobbs, Tipton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46047 | 0.38% | 0.46% | 1.41% | 1.57% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Hobbs, Tipton County, Indiana
When examining property taxes in Hobbs, 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 Tipton 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 Tipton 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 Hobbs. For example, the median home price in Hobbs is $91,050, with tax bills ranging significantly across the county. 46047 has the highest median home price at $91,050.
Property Tax Assessment Values Across Hobbs, Tipton County, Indiana
Source: Ownwell
$91,050
$149,725
$208,400
Median Hobbs Market Value
$91,050
Median Tipton County Market Value
$150,000
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hobbs, Tipton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46047 | $32,040 | $50,950 | $91,050 | $101,425 | $116,640 |
Source: Ownwell
Property Tax Bills Across Hobbs, Tipton County, Indiana
In Hobbs, Tipton County, Indiana, property tax bills are calculated based on the assessed value of a home. The local government assesses properties to determine their market value, which is then subject to the county's property tax rate. The median home price in Hobbs stands at $91,050. Homeowners in this area typically see tax bills ranging from $418 at the 25th percentile to $1,607 at the 90th percentile, with the median tax bill being $590. This is significantly lower than the national median property tax bill of $2,400, making Hobbs an attractive option for homeowners seeking lower property taxes.
Factors such as property improvements and neighborhood developments can affect the assessed value, thereby impacting the tax bill. Homeowners often feel the financial burden, especially when their property's assessed value increases unexpectedly. Ownwell assists homeowners by offering property tax appeal services, potentially reducing their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying on their property taxes, providing peace of mind and potential savings.
Median Hobbs Tax Bill
$590
Median Tipton County Tax Bill
$1,227
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Hobbs, Tipton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46047 | $319 | $418 | $590 | $1,307 | $1,607 |
Source: Ownwell