Fulton County, Indiana’s property tax rate is 0.75%. Residents pay about $700 per year for their property tax based on a median home value of $93,900. Taxes are split into two payments annually and are due in May and November.
Paying property taxes is one of the less-than-fun aspects of owning a home, but it is required as a condition of your mortgage. Even when your home loan is paid off, you will still be required to pay taxes on your home and the land it occupies.
Understanding how taxes are assessed and where your money goes can take some of the frustration out of the process. That is why the home and auto insurance
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Property tax 101
In the simplest terms, property tax is the fee you pay yearly to your local government when you own a home. Your first year of property tax is typically included in the closing costs of your mortgage, but after that, you will be responsible for paying them each year that you own your home.
Here is a quick look at the basics:
Property taxes are administered by local government and are based on a percentage of the current assessed fair market value of your property
These taxes pay for local infrastructures like roads, public services, education, public safety, and local government
Your county assessor will evaluate your property each year to determine your tax bill.
Property tax can fluctuate from year to year, especially if you renovate your home, or if your home is damaged during the year
As a property owner, you can appeal the property tax amount you are charged and request a reassessment if you think the assessor's office is incorrect in the evaluation of your home
MORE: Is car insurance tax deductible?
What is the property tax rate in Fulton County?
The current Fulton County tax rate is .75%. Residents can expect to pay around $700 per year for their property taxes, which is about 1.48% of their annual income. Tax rates are re-evaluated annually and can change based on overall market conditions.
How Fulton County property taxes are determined
Each year, someone from the county assessor's office will assess your property and issue you a property tax statement. To calculate your tax bill, your home’s assessed value is multiplied by your local tax rate of 0.75%.
In Fulton County, tax rates are calculated on a per $100 basis. This means that for every $100 your home is worth, you are charged 75 cents. If your home is assessed at $100,000, your tax bill would be $750.
What do Fulton County property taxes pay for?
As a resident of Fulton County, most of your property taxes are allocated for the school system in your area. These monies are used to pay teachers, purchase materials and technology, and maintain school buildings. Some of the remaining funds are also used for services like:
MORE: How to deduct a car accident from your taxes
How to pay property taxes in Fulton County
There are several ways to pay your tax bill in Fulton County. This can be done online, by mail, in person, or through your bank. Checks or money orders should be made out to Fulton County Treasurer. Here’s how to do it:
In person: You can visit the County Building and pay with cash, check, money order, or a debit/credit card at the Treasurer’s Office.
By mail: Send your payment to Fulton County Treasurer, 125 East 9th Street, Rochester, IN 46975
Online: Visit the Fulton County payment site
and have your debit or credit card ready. A small transaction fee will be added to your total cost. Participating bank: You can also pay at a participating bank two weeks prior to the property tax due date. You must have the original tax bill and have no delinquencies. Participating banks include Lake City Bank, and Community State Bank, Kewanna.
How to save money on homeowners and car insurance in Indiana
You may not be able to control your property taxes, but there are other aspects of homeownership costs that you can control—like your home and auto insurance.
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