New Goshen, Vigo County, Indiana Property Taxes
Median New Goshen, IN effective property tax rate: 0.82%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median New Goshen, IN home value: $73,850
Median annual New Goshen, IN tax bill: $544, $1,856 lower than the national median property tax bill of $2,400.
How are property taxes in Vigo County calculated?
Property taxes in New Goshen, 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 New Goshen’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Goshen, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Goshen, Vigo County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.82%
Estimate Property Tax Bill
$606
$562
Property Tax Rates Across New Goshen, Vigo County, Indiana
Local government entities set tax rates, and these can vary significantly within a state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although setting tax rates and budgets involves votes and laws, this is the annual process in a nutshell.
In New Goshen, located in Vigo County, Indiana, the effective property tax rate is a reflection of this process. Indiana's median property tax rate is 0.82%, which is lower than the national median of 1.02%. This makes Indiana an attractive option for property owners seeking lower tax liabilities. Comparing New Goshen's rate to other cities within Indiana, it's evident that the state maintains a consistent rate across its regions. This consistency offers predictability for property owners, making financial planning more manageable.
As property taxes directly impact homeowners' expenses, understanding these rates is crucial. Lower rates can lead to significant savings over time, enhancing the appeal of owning property in 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 New Goshen Tax Rate
0.82%
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 Vigo County Tax Rate
1.01%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Goshen, Vigo County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47863 | 0.48% | 0.57% | 0.82% | 2.06% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across New Goshen, Vigo County, Indiana
When examining property taxes in New Goshen, 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 Vigo County appraisal district 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 Vigo 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 New Goshen. For example, the median home price in New Goshen is $73,850, with tax bills ranging significantly across the county. Zip code 47863 has the highest median home price at $73,850.
Property Tax Assessment Values Across New Goshen, Vigo County, Indiana
Source: Ownwell
$60,300
$97,450
$134,600
Median New Goshen Market Value
$73,850
Median Vigo County Market Value
$100,700
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Goshen, Vigo County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47863 | $13,020 | $47,725 | $73,850 | $98,525 | $123,980 |
Source: Ownwell
Property Tax Bills Across New Goshen, Vigo County, Indiana
In New Goshen, located in Vigo County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The median home price in the area is $73,850, and the property tax bill varies significantly depending on the assessed value. Homeowners in the 25th percentile pay about $317, while those in the 75th percentile face bills around $991. The 90th percentile sees tax bills as high as $1,359. These figures highlight the range of tax burdens residents might encounter, especially when compared to the national median property tax bill of $2,400.
For homeowners in New Goshen looking to reduce their property tax burden, Ownwell offers a valuable service. By providing expert property tax appeal and exemption services, Ownwell helps ensure that homeowners are not overpaying. Leveraging local expertise and a deep understanding of property tax regulations, Ownwell can identify potential savings and assist homeowners in navigating the appeal process, ultimately helping them lower their property tax bills.
Median New Goshen Tax Bill
$544
Median Vigo County Tax Bill
$1,148
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across New Goshen, Vigo County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47863 | $186 | $317 | $544 | $991 | $1,359 |
Source: Ownwell