Shepardsville, Vigo County, Indiana Property Taxes
Median Shepardsville, 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 Shepardsville, IN home value: $89,900. Median annual Shepardsville, IN tax bill: $654, $1,746 lower than the national median property tax bill of $2,400.
How are property taxes in Vigo calculated?
Property taxes in Shepardsville, 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 Shepardsville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Shepardsville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Shepardsville, Vigo County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.88%
Estimate Property Tax Bill
$791
$734
Property Tax Rates Across Shepardsville, Vigo County, Indiana
Local government entities determine tax rates, which can vary significantly within a state. Each year, counties calculate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While votes and legislation play a role in setting tax rates and budgets, this is the core of the annual process.
In Shepardsville, located in Vigo County, Indiana, property tax rates can be compared to other cities within the state, as well as to the median property tax rates in Indiana and across the U.S. With a median property tax rate of 0.88%, Shepardsville aligns with the highest and lowest median tax rates in Indiana, which are also 0.88%. This is notably lower than the national median property tax rate of 1.02%. Understanding these figures can help property owners in Shepardsville make informed decisions about their property taxes and explore potential savings through appeals or exemptions.
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 Shepardsville Tax Rate
0.88%
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 Shepardsville, Vigo County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47880 | 0.45% | 0.72% | 0.88% | 1.08% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Shepardsville, Vigo County, Indiana
When examining property taxes in Shepardsville, 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 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 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 Shepardsville.
For example, the median home price in Shepardsville is $89,900, with tax bills ranging significantly across the county. Zip code 47880 has the highest median home price at $89,900.
Property Tax Assessment Values Across Shepardsville, Vigo County, Indiana
Source: Ownwell
$60,300
$97,450
$134,600
Median Shepardsville Market Value
$89,900
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 Shepardsville, Vigo County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47880 | $17,600 | $71,900 | $89,900 | $107,700 | $122,700 |
Source: Ownwell
Property Tax Bills Across Shepardsville, Vigo County, Indiana
In Shepardsville, located in Vigo County, Indiana, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. Homeowners in Shepardsville typically face a median property tax bill of $654, which is significantly lower than the national median of $2,400. Factors such as the property's location, size, and improvements can influence the assessed value, thereby affecting the tax bill. With a median home price of $89,900, homeowners in Shepardsville benefit from relatively low property taxes compared to other regions.
Ownwell offers valuable assistance to homeowners by helping them appeal their property tax assessments and secure exemptions, potentially reducing their tax burden. By leveraging expert knowledge and experience, Ownwell ensures that homeowners pay only their fair share. This can lead to significant savings, especially for those whose tax bills fall in the higher percentiles, such as the 90th percentile at $1,487. Trust Ownwell to navigate the complexities of property tax appeals and exemptions, providing peace of mind and financial relief.
Median Shepardsville Tax Bill
$654
Median Vigo County Tax Bill
$1,148
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Shepardsville, Vigo County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47880 | $56 | $463 | $654 | $1,138 | $1,487 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Vigo Tax Assessor | |
| Website | beacon.schneidercorp.com |