Cambridge City, Wayne County, Indiana Property Taxes
Median Cambridge City, IN effective property tax rate: 1.12%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Cambridge City, IN home value: $96,700
Median annual Cambridge City, IN tax bill: $1,145, $1,255 lower than the national median property tax bill of $2,400.
How are property taxes in Wayne calculated?
Property taxes in Cambridge City, 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 Cambridge City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cambridge City, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cambridge City, Wayne County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.12%
Estimate Property Tax Bill
$1,083
$1,005
Property Tax Rates Across Cambridge City, Wayne County, Indiana
Local government entities set property tax rates, which can differ significantly within a state. Each year, counties estimate their required budgets to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the core of the annual process.
In Cambridge City in Wayne County, Indiana, you can see how the effective property tax rate compares to other cities in Indiana, as well as the median property tax rates in the state and across the U.S. Cambridge City’s property tax rate stands at 1.12%, which is above the national median property tax rate of 1.02%. This rate is also the highest and lowest median tax rate in the same zip code, 47327, indicating a uniform rate across the area. The national median property tax bill is $2400, providing a useful benchmark for comparison. Understanding these figures can help property owners make informed decisions about their property taxes.
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 Cambridge City Tax Rate
1.12%
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 Wayne County Tax Rate
1.04%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cambridge City, Wayne County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47327 | 0.62% | 0.92% | 1.12% | 2.10% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Cambridge City, Wayne County, Indiana
When examining property taxes in Cambridge City, 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 Wayne 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 Wayne 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 Cambridge City.
For example, the median home price in Cambridge City is $96,700, with tax bills ranging significantly across the county. Zip code 47327 has the highest median home price at $96,700.
Property Tax Assessment Values Across Cambridge City, Wayne County, Indiana
Source: Ownwell
$63,700
$141,450
$219,200
Median Cambridge City Market Value
$96,700
Median Wayne County Market Value
$92,200
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cambridge City, Wayne County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47327 | $34,350 | $59,700 | $96,700 | $143,075 | $200,000 |
Source: Ownwell
Property Tax Bills Across Cambridge City, Wayne County, Indiana
In Cambridge City, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in this area is $96,700. Property taxes are influenced by local tax rates and the assessed value of the property. Homeowners in Cambridge City face a median property tax bill of $1,145, which is below the national median of $2,400. The tax bill can vary significantly, with the 25th percentile at $654 and the 90th percentile reaching $2,988.
High property taxes can be a burden for homeowners, but appealing the assessment can potentially lower the tax bill. Ownwell specializes in property tax appeals and exemptions, helping homeowners navigate the complexities of the tax system. By reviewing property assessments and ensuring they are accurate, Ownwell can identify opportunities for savings, potentially reducing the tax burden on homeowners. This service can be especially beneficial in areas like Cambridge City, where the property tax rate can significantly impact household finances.
Median Cambridge City Tax Bill
$1,145
Median Wayne County Tax Bill
$1,053
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Cambridge City, Wayne County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47327 | $340 | $654 | $1,145 | $1,837 | $2,988 |
Source: Ownwell