Elberfeld, Vanderburgh County, Indiana Property Taxes
Median Elberfeld, IN effective property tax rate: 1.09%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Elberfeld, IN home value: $158,200
Median annual Elberfeld, IN tax bill: $2,268, $132 lower than the national median property tax bill of $2,400.
How are property taxes in Vanderburgh calculated?
Property taxes in Elberfeld, 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 Elberfeld’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Elberfeld, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Elberfeld, Vanderburgh County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.09%
Estimate Property Tax Bill
$1,724
$1,600
Property Tax Rates Across Elberfeld, Vanderburgh County, Indiana
Local government entities determine property tax rates, leading to significant variations within a state. This variation arises because each county annually estimates its budgetary needs to fund services, dividing this by the total value of all taxable properties in its jurisdiction to establish the property tax rate. Although votes and legislation play roles in setting tax rates and budgets, this is the essence of the annual process.
For instance, Elberfeld in Vanderburgh County showcases how these rates can differ across regions. The effective property tax rate here can be compared to other cities in Indiana, as well as state and national medians. Indiana's median property tax rate is slightly higher than the national median of 1.02%, reflecting the diverse fiscal strategies employed by local governments.
Understanding these differences is crucial for property owners, as it directly impacts their annual tax bills. With the national median property tax bill at $2,400, assessing how your local rate compares can provide valuable insights for financial planning and potential tax appeal opportunities.
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 Elberfeld Tax Rate
1.09%
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 Vanderburgh County Tax Rate
1.01%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Elberfeld, Vanderburgh County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47613 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Elberfeld, Vanderburgh County, Indiana
When examining property taxes in Elberfeld, IN, 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 Vanderburgh 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 Vanderburgh 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 Elberfeld. For example, the median home price in Elberfeld is $158,200, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Elberfeld, Vanderburgh County, Indiana
Source: Ownwell
$55,350
$161,325
$267,300
Median Elberfeld Market Value
$158,200
Median Vanderburgh County Market Value
$135,700
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Elberfeld, Vanderburgh County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47613 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Elberfeld, Vanderburgh County, Indiana
In Elberfeld, located in Vanderburgh County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value reflects the estimated market value of the property. The tax rate is then applied to this assessed value to calculate the annual tax bill. Homeowners in Elberfeld face a median property tax bill that can vary significantly, with the 25th percentile at $1,433 and the 75th percentile reaching $3,130. The 90th percentile tax bill can be as high as $3,345, indicating a wide range of tax liabilities depending on property value and location.
Homeowners in Elberfeld might find their tax bills higher than the national median tax bill of $2,400. Ownwell can assist homeowners by reviewing their property assessments and identifying opportunities for appeals or exemptions, potentially lowering their tax bills. By leveraging expert knowledge and local tax data, Ownwell helps ensure homeowners are not overpaying on their property taxes, providing peace of mind and potential savings.
Median Elberfeld Tax Bill
$2,268
Median Vanderburgh County Tax Bill
$1,483
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Elberfeld, Vanderburgh County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47613 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell