Brownsburg, Indiana Property Taxes
The median property tax rate in Brownsburg, IN is 0.93%, slightly below both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Brownsburg at $278,100, the typical annual property tax bill reaches $2,682, which is just under the national median of $2,690. Property taxes in Brownsburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brownsburg'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 Brownsburg or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brownsburg, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$2,586
Ownwell’s Brownsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brownsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brownsburg to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Brownsburg, Indiana
Property taxes in Brownsburg, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brownsburg is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Brownsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brownsburg 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 Brownsburg's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46112 has both the highest and lowest median property tax rate of 0.93%. Understanding how these areas compare with Brownsburg provides valuable insights into the varying tax landscape across Hendricks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brownsburg Tax Rate
0.93%
Average Hendricks County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brownsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46112 | 0.78% | 0.87% | 0.93% | 0.98% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Brownsburg, Indiana
In Brownsburg, 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 Hendricks County Assessor's Office 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 Brownsburg, 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. Being aware of these valuation processes in Brownsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Brownsburg is $278,100, with the highest and lowest median tax bills both being $2,682 in zip code 46112.
Average Brownsburg Assessed Value
$278,100
Average Hendricks County Assessed Value
$256,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brownsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46112 | $167,200 | $208,400 | $278,100 | $378,900 | $459,400 |
Source: Ownwell
Property Tax Bills Across Brownsburg, Indiana
In Brownsburg, located in Hendricks County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor's office and is intended to reflect the market value of the property. Various factors such as the home's size, location, and condition are considered during the assessment process. Homeowners in Brownsburg can expect a range of property tax bills. For instance, the tax bill at the 25th percentile is $1,951, while at the 75th percentile, it reaches $3,596. The 90th percentile tax bill is even higher at $4,508. The highest median tax bill in the area is $2,682, which is consistent across the 46112 zip code. These property tax bills impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Brownsburg's tax rates reflect the community's investment in maintaining and improving local amenities and services.
Average Brownsburg Tax Bill
$2,682
Average Hendricks County Tax Bill
$2,647
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Brownsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46112 | $1,408 | $1,951 | $2,682 | $3,596 | $4,508 |
Source: Ownwell