Example of Bartholomew County Property Tax Calculation
Bartholomew County calculates property tax based on the assessed value of the property. The assessed value is determined by the county assessor's office and is based on various factors such as the size of the property, its location and condition, and any improvements made to it.
Once the assessed value is determined, the county applies a tax rate to it to calculate the property tax amount. The tax rate is set by various taxing authorities such as the county government, school districts, and other local entities.
For example, if a property in Bartholomew County has an assessed value of $100,000 and the combined tax rate (including all taxing authorities) is 2%, then the property tax would be $2,000 (100,000 x 0.02).
It is important to note that property tax is an annual obligation and may increase or decrease based on changes in the assessed value and tax rates. Property owners in Bartholomew County can contact the county assessor's office or local taxing authorities for more information on their specific property tax obligations.
If you want appeal your property tax assessment - contact your local tax assessor.
Bartholomew County Property Tax Rates
Bartholomew County Property Tax Rates:
| Tax Type | Rate per $100 of Assessed Value |
|---|---|
| County General | $0.6264 |
| Public Safety | $0.2703 |
| County Adjusted Gross Income Tax | $0.0212 |
| County Economic Development Income Tax | $0.0250 |
| County Option Income Tax | $0.0500 |
| Total | $0.9930 |
These are the property tax rates for Bartholomew County in Indiana. The table shows the tax type and the rate per $100 of assessed value. The County General tax rate is $0.6264, while the Public Safety tax rate is $0.2703. Additionally, there are several other taxes, such as the County Adjusted Gross Income Tax and the County Economic Development Income Tax. The total tax rate for Bartholomew County is $0.9930 per $100 of assessed value.
Who sets property tax rates in Bartholomew County ?
In Bartholomew County, the property tax rates are set by the Bartholomew County Council. This is typically done during their annual budget meetings which are held in the fall. The Council takes into account various factors such as the county's financial needs, changes in property values, and public input when determining the tax rates for the upcoming year. Once the tax rates are set, they are then applied to the assessed value of each property in the county to calculate the amount of property taxes owed.
Homestead exemptions in Bartholomew County ?
In Bartholomew County, Indiana, there are various Homestead exemptions and deductions available for property owners. To help you understand them better, we have created a table with four columns listing all the county-specific exemptions and deductions.
Here are the details:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Standard Deduction | All homeowners | $45,000 | Applies to primary residence only |
| Over 65 Deduction | Homeowners over 65 years old | $20,000 | Only applies to primary residence |
| Disability Deduction | Homeowners with a disability | $20,000 | Only applies to primary residence |
| Mortgage Deduction | Homeowners with a mortgage | Varies | Based on mortgage interest paid |
| Geothermal Deduction | Homeowners with geothermal heating | Varies | Based on the cost of the geothermal system |
| Solar Energy Deduction | Homeowners with solar panels | Varies | Based on the cost of the solar panels |
| Veterans Deduction | Veterans or their surviving spouses | $12,500 | Only applies to primary residence |
| Disabled Veterans Deduction | Disabled veterans or their surviving spouses | $25,000 | Only applies to primary residence |
Please note that eligibility requirements and amounts may change over time, so it's always best to check with your local county assessor's office for the most up-to-date information.
We hope you find this information helpful in understanding the various Homestead exemptions and deductions available in Bartholomew County.
When is Bartholomew County Property Tax due ?
Bartholomew County Property Tax is typically due on May 10th of each year. However, if May 10th falls on a weekend or a holiday, the deadline will be extended to the next business day.
There are several payment methods available for Bartholomew County Property Tax. Taxpayers can pay online through the Bartholomew County Treasurer's website using a credit card, debit card or electronic check. They can also pay in person at the Bartholomew County Treasurer's office using cash, check, or money order.
Additionally, taxpayers can choose to pay by mail. Payments can be made by sending a check or money order to the Bartholomew County Treasurer's office, along with the payment coupon that is included with the tax bill. It's important to note that payments made by mail must be postmarked by May 10th to be considered on time.
In summary, Bartholomew County Property Tax is due on May 10th of each year and can be paid online, in person, or by mail. Taxpayers should ensure that their payment is submitted by the deadline to avoid penalties and interest.
If you have more questions - contact your local tax collector.
How is Bartholomew County Property Tax penalty calculated ?
Bartholomew County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, they may be subject to penalties. The penalty calculation is based on the amount of unpaid taxes, the length of time they have been delinquent, and the interest rate applied.
Here is an example to explain the calculation:
Let's say a property owner owes $2,500 in property taxes for the year. The due date for the taxes is May 10th. If the owner fails to pay by May 10th, they will be charged a penalty of 5% of the unpaid taxes or $125 (5% of $2,500).
If the owner still fails to pay by November 10th, an additional penalty of 5% or $125 will be added to their balance, bringing the total to $2,750 ($2,500 original tax amount + $125 late penalty + $125 additional penalty).
From there on, interest at a rate of 10% per annum will be added to the unpaid balance until the taxes are paid in full.
It's important to note that property owners who are unable to pay their taxes on time may be eligible for a payment plan or other options to avoid penalties and interest. It is recommended to contact the Bartholomew County Treasurer's office for more information and assistance.
Summary of Calculation:
| Time Late | Penalty | Total Owing |
|---|---|---|
| May 10 | 5% | $2,500 |
| Nov 10 | 5% | $2,750 |
| Thereafter | 10% p.a. | $2,750 + interest |
By understanding the penalty calculation for property taxes, property owners can avoid unnecessary fees and interest charges.
We recommend contacting the Bartholomew County Tax Office or a local tax professional for the most up-to-date and accurate information.