Example of Wells County Property Tax Calculation
Property tax calculation in Wells County is based on the assessed value of the property. For example, if a property in Wells County has an assessed value of $100,000 and the tax rate is $1 per $100 of assessed value, then the property tax would be $1,000 per year.
The assessed value is determined by the Wells County Assessor's Office and is based on the market value of the property. The tax rate is set by the Wells County Board of Commissioners and is typically expressed as a percentage of the assessed value.
It is important to note that property tax rates and assessed values can vary depending on the specific location and type of property in Wells County. Property owners can contact the Wells County Assessor's Office or visit their website for more information on their specific property tax calculation.
If you want appeal your property tax assessment - contact your local tax assessor.
Wells County Property Tax Rates
The Wells County property tax rates for 2021 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.5167 |
| City of Bluffton | $1.1200 |
| City of Ossian | $1.2500 |
| Lancaster Township | $0.9688 |
| Liberty Township | $0.8479 |
| Nottingham Township | $0.8479 |
| Union Township | $0.9688 |
It is important to note that these rates may vary based on the specific property location and any applicable exemptions or deductions. It is recommended to consult with a qualified tax professional for personalized advice.
Who sets property tax rates in Wells County ?
Who and When Sets Property Tax Rates in Wells County?
In Wells County, property tax rates are set by the County Board of Commissioners. This board is made up of elected officials who are responsible for setting budgets and making financial decisions for the county.
The property tax rates are set on an annual basis during a public meeting where the board reviews the county's finances and decides the appropriate rate for the upcoming year. The property tax rates are typically set in the fall, with property owners receiving their tax bills in the following months.
It's important to note that property tax rates can vary from year to year, depending on changes in the county's budget and property values. If you have questions about your property tax bill or the property tax rates in Wells County, you can contact the County Auditor's office for more information.
Homestead exemptions in Wells County ?
In Wells County, Indiana, there are several Homestead exemptions and deductions available for eligible residents. Here is a breakdown of the different options and their corresponding details:
Homestead Exemptions
| Exemption Type | Eligibility | Amount | Notes |
|---|---|---|---|
| Standard Homestead Exemption | Primary resident of property | Up to $45,000 of assessed value | Applied automatically |
| Over 65 Homestead Exemption | 65 years or older and primary resident of property | Up to $65,000 of assessed value | Applied automatically |
| Disabled Veteran Homestead Exemption | Honorably discharged veteran with service-connected disability rating of at least 10% and primary resident of property | Up to $37,000 of assessed value | Applied through County Veterans Service Office |
| Disabled Hoosier Veteran Homestead Exemption | Indiana resident and honorably discharged veteran with service-connected disability rating of at least 10% and primary resident of property | Up to $24,960 of assessed value | Applied through County Veterans Service Office |
| Surviving Spouse Homestead Exemption | Surviving spouse of eligible homeowner | Up to $45,000 of assessed value | Applied through County Auditor's office |
Homestead Deductions
| Deduction Type | Eligibility | Amount | Notes |
|---|---|---|---|
| Mortgage Homestead Deduction | Homeowner with mortgage on property | Up to $3,000 of assessed value | Applied automatically |
| Supplemental Homestead Deduction | Primary resident of property with household income below $30,000 | Up to $6,000 of assessed value | Applied through County Auditor's office |
It is important to note that residents can only receive one Homestead exemption and one Homestead deduction per property. Additionally, homeowners must file for exemptions by the deadline set by the County Auditor's office in order to receive the benefit for that tax year.
When is Wells County Property Tax due ?
In Wells County, Indiana, property tax is typically due on May 10th of each year. However, if the due date falls on a weekend or holiday, payment is accepted on the next business day.
Payment Methods:
| Method | Description |
|---|---|
| In person | Payment can be made in person at the Wells County Treasurer's Office, located at 102 W Market St., Suite 203, Bluffton, IN 46714. Accepted forms of payment include cash, check, money order, and credit/debit cards (with a convenience fee). |
| By mail | Payment can be mailed to the Wells County Treasurer's Office at the same address listed above. Payment must be in the form of a check or money order. |
| Online | Payment can be made online through the Wells County Treasurer's website using a credit/debit card (with a convenience fee) or e-check. |
It is important to note that failure to pay property tax by the due date may result in penalties and interest charges. Therefore, it is recommended to pay the tax on time to avoid additional fees.
If you have more questions - contact your local tax collector.
How is Wells County Property Tax penalty calculated ?
Wells County Property Tax Penalty Calculation
The calculation of Wells County Property Tax penalty is based on the delinquency period and the amount of tax due. The penalty is calculated as a percentage of the unpaid tax amount, and the percentage increases with the length of the delinquency period.
The following table shows the penalty rates for different delinquency periods:
| Delinquency Period | Penalty Rate |
|---|---|
| 1-30 days | 5% |
| 31-60 days | 10% |
| 61-90 days | 15% |
| Over 90 days | 20% |
For example, let's say Mr. Smith owns a property in Wells County and his property tax is due on January 1st. However, he fails to pay it until April 15th. The property tax owed is $1,000. The penalty calculation would be as follows:
- 1-30 days delinquent period: $1,000 x 5% = $50
- 31-60 days delinquent period: $1,000 x 10% = $100
- 61-90 days delinquent period: $1,000 x 15% = $150
- Over 90 days delinquent period: $1,000 x 20% = $200
Therefore, Mr. Smith's total penalty for being delinquent for 105 days would be $500 ($50 + $100 + $150 + $200).
It's important to note that the penalty is calculated on a daily basis, so the longer the delinquency period, the higher the penalty amount will be. Additionally, other fees and interest may also be applied to the unpaid taxes, which can increase the total amount owed. To avoid penalties and fees, it's essential to pay property taxes on time.
We recommend contacting the Wells County Tax Office or a local tax professional for the most up-to-date and accurate information.