Danville, Indiana Property Taxes
The median property tax rate in Danville, IN is 0.96%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Danville at $240,300, the typical annual property tax bill amounts to $2,347, which is below the national median of $2,690. Property taxes in Danville are calculated based on the tax assessed value, often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Danville'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 Danville 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
Danville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,307
Ownwell’s Danville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Danville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Danville 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 Danville, Indiana
Property taxes in Danville, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danville is 0.96%, which is slightly below the U.S. national median of 0.99%. Local government entities within Danville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danville 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 Danville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46122 zip code has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these areas compare with Danville 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 Danville Tax Rate
0.96%
Average Hendricks County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46122 | 0.72% | 0.90% | 0.96% | 1.09% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Danville, Indiana
In Danville, 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 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 Danville, 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 Danville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Danville both stand at $2347, with the zip code 46122.
Average Danville Assessed Value
$240,300
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 Danville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46122 | $129,200 | $177,050 | $240,300 | $338,500 | $446,900 |
Source: Ownwell
Property Tax Bills Across Danville, Indiana
In Danville, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the amount owed. For homeowners in Danville, the median home price is $240,300, and the property tax rate in Hendricks County significantly impacts the annual tax bill. Several factors influence the final tax bill, including the assessed value of the property, any applicable exemptions, and the local tax rate. For instance, properties in the 25th percentile of tax bills might see amounts around $1,704, while those in the 75th percentile could be as high as $3,546. At the 90th percentile, tax bills can reach $4,867. Comparatively, the median property tax rate in Hendricks County is above the national median of 0.99%, indicating that homeowners in Danville may face higher property taxes than the national average. This can significantly affect household budgets, making it essential for homeowners to understand their tax obligations.
Average Danville Tax Bill
$2,347
Average Hendricks County Tax Bill
$2,647
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Danville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46122 | $1,007 | $1,704 | $2,347 | $3,546 | $4,867 |
Source: Ownwell