Tipton, Tipton County, Indiana Property Taxes

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

Median Tipton, IN effective property tax rate: 0.88%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%. Median Tipton, IN home value: $153,200. Median annual Tipton, IN tax bill: $1,320, $1,080 lower than the national median property tax bill of $2,400.

How are property taxes in Tipton calculated?

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

Last Updated March 1, 2025

Tipton, Tipton County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.95%

Estimate Property Tax Bill

$1,562

$1,449

Ownwell’s Tipton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tipton with just two data points. By entering your property's estimated assessed value, our calculator applies Tipton’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 Tipton County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Tipton, Tipton County, Indiana

Local government entities are responsible for setting property tax rates, which can vary significantly within a state. This variation occurs because each county annually determines its budget needs to provide essential services, dividing this amount by the total assessed value of all taxable properties within its jurisdiction. This process results in the property tax rate. While the setting of tax rates and budgets involves votes and legislative measures, this is the annual procedure in essence.

In Tipton, Indiana, the effective property tax rate stands out when compared to other cities in the state. Tipton's rate is below the national median property tax rate of 1.02%, which can be advantageous for property owners seeking lower tax liabilities. This comparison highlights Tipton as a potentially attractive location for homeowners looking to benefit from a favorable tax environment. Understanding these differences in tax rates can be crucial for property owners and prospective buyers in making informed decisions about where to live or invest.

Property Tax Rates Across Tipton, Tipton County, Indiana

Source: Ownwell

0.49%

0.97%

1.45%

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 Tax Rate

0.95%

Median Effective Tipton County Tax Rate

0.73%

Median Effective Indiana Tax Rate

1.01%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tipton, Tipton County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46072	0.51%	0.61%	0.95%	1.00%	2.00%

Source: Ownwell

Property Tax Assessment Values Across Tipton, Tipton County, Indiana

When examining property taxes in Tipton, 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 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.

Assessment notices:

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 Tipton.

For example, the median home price in Tipton is $153,200, with tax bills ranging significantly across the county. 46072 has the highest median home price at $153,200.

Property Tax Assessment Values Across Tipton, Tipton County, Indiana

Source: Ownwell

$96,150

$159,475

$222,800

Median Tipton Market Value

$164,400

Median Tipton County Market Value

$160,600

Median Indiana Market Value

$186,200

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tipton, Tipton County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46072	$78,500	$115,600	$164,400	$238,300	$330,750

Source: Ownwell

Property Tax Bills Across Tipton, Tipton County, Indiana

In Tipton, IN, property tax bills are determined by multiplying the property's assessed value by the local tax rate. The assessed value is a percentage of the property's market value, which is influenced by factors such as location, size, and condition. Homeowners in Tipton experience a range of tax bills. While the median tax bill stands at $1,320, some homeowners pay as low as $910, while others pay up to $2,831. Compared to the national median property tax bill of $2,400, Tipton's median tax bill is significantly lower, offering some relief to its residents. However, fluctuations in property assessments can lead to unexpectedly high tax bills, impacting household budgets. Ownwell can assist homeowners in Tipton by analyzing their property tax assessments and identifying potential errors or overvaluations. By filing appeals and applying for exemptions on behalf of homeowners, Ownwell helps ensure that property tax bills are fair and accurate, potentially saving homeowners significant amounts on their annual property taxes.

Property Tax Bills Across Tipton, Tipton County, Indiana

Source: Ownwell

$553

$1,146

$1,739

Median Tipton Tax Bill

$1,408

Median Tipton County Tax Bill

$1,282

Median Indiana Tax Bill

$1,964

Median United States Tax Bill

$2,400

Property Tax Bills Across Tipton, Tipton County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46072	$522	$989	$1,408	$2,041	$2,942

Source: Ownwell