Rush County Property Tax Rates
Here is a formatted table listing the Rush County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Real Property | $1.00 |
| Personal Property | $1.25 |
| Mobile Homes | $0.50 |
These rates are accurate as of the current tax year and are subject to change. It is important for Rush County residents to be aware of these rates when budgeting for their property taxes.
Who sets property tax rates in Rush County ?
In Rush County, the property tax rates are set by local government officials who are elected by the citizens. More specifically, the County Council and County Commissioners have the authority to establish property tax rates. They typically do this during annual budgeting meetings where they consider the financial needs of the county and set the tax rates accordingly. The rates are usually expressed as a percentage of the total assessed value of the property. It's important to note that these rates can vary depending on the location of the property and its use. Rush County property owners can expect to receive a property tax bill each year based on the assessed value of their property and the tax rates that were set by the local government officials.
Example of Rush County Property Tax Calculation
When calculating Rush County property taxes, the first step is to determine the property's assessed value. This value is determined by the county assessor's office and is based on the property's market value and any applicable deductions or exemptions.
Once the assessed value is determined, the county uses a tax rate to calculate the property tax due. The tax rate is determined by dividing the total amount of taxes needed by the county by the total assessed value of all taxable properties within the county.
For example, if Rush County needs $10 million in property taxes and the total assessed value of all taxable properties within the county is $500 million, the tax rate would be 2% ($10 million divided by $500 million).
To calculate the property tax due for a specific property, simply multiply the property's assessed value by the tax rate percentage. For a property with an assessed value of $100,000 in Rush County, the property tax due would be $2,000 (2% tax rate multiplied by $100,000 assessed value).
It's important to note that Rush County property taxes are typically due twice a year, with the first installment due in May and the second installment due in November. Delinquent payments may result in penalties and interest charges.
If you want appeal your property tax assessment - contact your local tax assessor.
When is Rush County Property Tax due ?
Rush County Property Tax typically is due on May 10th. There are several payment methods available for taxpayers, including:
| Payment Method | Description |
|---|---|
| Online | Taxpayers can pay their property taxes online using a credit or debit card through the Rush County website. |
| Taxpayers can mail their payment to the Rush County Treasurer's Office at the address listed on their tax statement. | |
| In-Person | Taxpayers can pay in person at the Rush County Treasurer's Office during regular business hours. |
| Drop Box | Taxpayers can drop off their payment in the secure drop box located outside the Rush County Courthouse. |
It is important to note that if the due date falls on a weekend or holiday, the deadline will be extended until the next business day. Failure to pay property taxes on time can result in late fees and interest charges, so it is essential to plan accordingly and choose a payment method that works best for you.
If you have more questions - contact your local tax collector.
Homestead exemptions in Rush County ?
Rush County, located in Indiana, offers a variety of Homestead exemptions and deductions to eligible taxpayers. These exemptions and deductions can help reduce the property taxes owed on a taxpayer's primary residence. Here is a breakdown of the Homestead exemptions and deductions available in Rush County, along with their eligibility requirements and exemption amounts.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Standard Homestead Exemption | Homeowners | Up to $45,000 of assessed value | Must be the owner-occupant of the property |
| Mortgage Deduction | Homeowners | Up to $3,000 | Must have a mortgage on the property |
| Over 65 Deduction | Homeowners over 65 | Up to $30,000 of assessed value | Must be 65 years of age on or before December 31 of the assessment year |
| Over 65 Circuit Breaker | Homeowners over 65 | Property tax capped at 2% of gross assessed value | Must have a total gross income below $30,000 |
| Disabled Veterans Deduction | Disabled veterans | Up to $37,880 of assessed value | Must have a service-connected disability rating of at least 10% |
| Disabled Hoosier Veteran Deduction | Disabled veterans | Up to $24,960 of assessed value | Must have a service-connected disability rating of at least 10% and meet income requirements |
It is important to note that taxpayers may only receive one Homestead exemption or deduction per property. Additionally, certain exemptions and deductions may require additional documentation or applications. For more information on these Homestead exemptions and deductions, taxpayers should contact the Rush County Auditor's Office.
How is Rush County Property Tax penalty calculated ?
The Rush County Property Tax penalty is calculated based on the assessed value of the property and the number of days past the due date for payment. The penalty accrues daily until the tax is paid in full. Here is an example to illustrate how the penalty is calculated:
Assume that John Smith owns a property in Rush County, with an assessed value of $200,000. The property tax is due on May 10th, but John fails to make the payment until June 15th. The annual tax rate for the property is 2%.
| Item | Amount |
|---|---|
| Assessed Value | $200,000 |
| Annual Tax Rate | 2% |
| Annual Tax Owed | $4,000 |
| Days Late | 36 |
| Daily Penalty Rate | 0.02%/day |
| Penalty Amount | $48.00 |
To calculate the penalty, first, we determine the number of days late, which is 36 in this example. We then calculate the daily penalty rate, which is 0.02% of the annual tax rate, or 0.0004%. We multiply the daily penalty rate by the assessed value to get the daily penalty amount, which is $0.80 in this case. Finally, we multiply the daily penalty amount by the number of days late to get the total penalty amount, which is $48.00.
So, John would owe $4,048.00 ($4,000 + $48.00) for his Rush County property tax bill if he pays on June 15th.
It's important to note that the penalty can continue to accrue if the tax remains unpaid beyond the due date, and the property may also be subject to additional collection actions by the county. Therefore, property owners should make sure to pay their property taxes on time to avoid penalties and potential legal consequences.
We recommend contacting the Rush County Tax Office or a local tax professional for the most up-to-date and accurate information.