Anderson, Indiana Property Taxes
The median property tax rate in Anderson, IN is 0.74%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Anderson at $171,800, the typical annual property tax bill amounts to $1,274, significantly below the national median of $2,690. Property taxes in Anderson are calculated based on the assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Anderson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Anderson or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Anderson, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,271
Ownwell’s Anderson Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Anderson. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in Anderson to provide an accurate estimate of your property tax bill. This user-friendly tool helps you gain a clear understanding of potential tax liabilities, ensuring you’re well-prepared for any financial obligations. For those interested in more detailed insights, you can explore trends at a neighborhood level by scrolling down. Your property’s assessed value, determined by the county, forms the basis for these calculations and includes any applicable exemptions.
Property Tax Rates Across Anderson, Indiana
Property taxes in Anderson, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Anderson is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Anderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Anderson estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Anderson's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46011 zip code in Anderson has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Anderson provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Anderson Tax Rate
0.74%
Average Hamilton County Tax Rate
1.05%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Anderson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46011 | 0.46% | 0.64% | 0.74% | 1.13% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Anderson, Indiana
In Anderson, Indiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Hamilton County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Anderson, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Anderson is $171,800, with tax bills ranging from $1,049 at the 25th percentile to $3,739 at the 90th percentile. The zip code with the highest and lowest median tax bill is 46011, both at $1,274. Being aware of these valuation processes in Anderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Anderson Assessed Value
$171,800
Average Hamilton County Assessed Value
$355,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Anderson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46011 | $113,100 | $137,800 | $171,800 | $221,900 | $348,500 |
Source: Ownwell
Property Tax Bills Across Anderson, Indiana
In Anderson, located in Hamilton County, IN, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local assessor's office, which evaluates the property to establish its market value. The median home price in Anderson is $171,800. The property tax rate is then applied to this assessed value to determine the annual tax bill. For instance, homeowners in the 25th percentile pay around $1,049 annually, while those in the 75th percentile face bills of approximately $1,805. At the higher end, the 90th percentile sees tax bills reaching up to $3,739. When compared to the national median property tax rate of 0.99%, Anderson's tax rates can be considered moderate. Homeowners in the zip code 46011 experience a median tax bill of $1,274. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their financial obligations and the benefits they receive from local government services.
Average Anderson Tax Bill
$1,274
Average Hamilton County Tax Bill
$3,915
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Anderson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46011 | $780 | $1,049 | $1,274 | $1,805 | $3,739 |
Source: Ownwell