Tocsin, Wells County, Indiana Property Taxes

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

Median TOCSIN, IN effective property tax rate: 1.26%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median TOCSIN, IN home value: $5,750
Median annual TOCSIN, IN tax bill: $72, $2,328 lower than the national median property tax bill of $2,400.

How are property taxes in Wells County calculated?

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

Last Updated March 1, 2025

Tocsin, Wells County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.26%

Estimate Property Tax Bill

$72

$67

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

Property Tax Rates Across Tocsin, Wells County, Indiana

Local government entities set tax rates, leading to significant variations within a state. Each year, counties determine their necessary budget to provide essential services and divide this by the total value of all taxable properties within their jurisdiction. This calculation produces the property tax rate. Although votes and laws play a part in setting these rates and budgets, this is essentially the annual process.

In Tocsin, located in Wells County, property taxes are determined similarly. The effective property tax rate here can be compared to other cities in Indiana and the national median. Indiana's median property tax rate stands at 1.26%, which is above the national median of 1.02%. This means that property owners in Indiana, including those in Tocsin, generally face higher property tax rates compared to the national average. Understanding these differences is crucial for homeowners looking to manage their property tax expenses effectively. By comparing Tocsin’s rates with other regions, property owners can make informed decisions about their property investments and potential savings through tax appeals or exemptions.

Property Tax Rates Across Tocsin, Wells County, Indiana

Source: Ownwell

0.37%

0.48%

0.59%

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 Tocsin Tax Rate

1.26%

Median Effective Wells County Tax Rate

0.56%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tocsin, Wells County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46777	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Tocsin, Wells County, Indiana

When examining property taxes in Tocsin, 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 Wells 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 Wells 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 Tocsin.

For example, the median home price in Tocsin is $5,750, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Tocsin, Wells County, Indiana

Source: Ownwell

$76,900

$173,750

$270,600

Median Tocsin Market Value

$5,750

Median Wells County Market Value

$188,100

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tocsin, Wells County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46777	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Tocsin, Wells County, Indiana

In Tocsin, located in Wells County, Indiana, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors, who take into account factors such as the property's size, location, and any improvements made to it. With a median home price of $5,750, homeowners in Tocsin face property tax bills that are notably lower than the national median of $2,400. Specifically, tax bills at the 25th, 75th, and even the 90th percentiles hover around $72 to $73, indicating a relatively low property tax burden for most residents. Despite these low figures, it is essential for homeowners to ensure they are not overpaying. This is where Ownwell comes into play. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax obligations. With a deep understanding of local tax codes and valuation methods, Ownwell can identify discrepancies in assessments and guide homeowners through the appeal process, ensuring fair taxation.

Property Tax Bills Across Tocsin, Wells County, Indiana

Source: Ownwell

$314

$941

$1,568

Median Tocsin Tax Bill

$72

Median Wells County Tax Bill

$1,092

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Tocsin, Wells County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46777	N/A	N/A	N/A	N/A	N/A

Source: Ownwell