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How to calculate the city of knightstown property tax bill

How to calculate the city of knightstown property tax bill

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The city of Knightstown come under Henry county of Indiana.A tax rate is the % used to determine how much a property owner would require to pay per 100 USD of net assessed value.Here property tax is collected on average 0.98% of a property's fair assessed market value.Residents pay 1.9% of their yearly income as property tax.

Here basically a complicated formula used to determine property tax. Tax rate is determined by Total Tax Levy/(Total Net Assessed value/100). Median property tax is $931 with $49(cap).So, tax bill calculation done by deducting local tax rate from assessed value of the property.For residential property and ,homestead deduction is applied.

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