Monroeville, Indiana Property Taxes
The median property tax rate in Monroeville, Indiana is 0.71%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $138,500 in Monroeville, the typical annual property tax bill is $1,035, falling below the national median of $2,690. Property taxes in Monroeville are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Monroeville'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 Monroeville 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
Monroeville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$983
Ownwell’s Monroeville Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Monroeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monroeville to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed information, trends on a neighborhood level are available by scrolling down. 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 Monroeville, Indiana
Property taxes in Monroeville, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monroeville is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Monroeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monroeville 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 Monroeville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46773 zip code has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Monroeville provides valuable insights into the varying tax landscape across Allen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monroeville Tax Rate
0.71%
Average Allen County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monroeville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46773 | 0.48% | 0.60% | 0.71% | 0.93% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Monroeville, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Monroeville, Indiana. 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 Allen 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. 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. For instance, the median home price in Monroeville is $138,500, with tax bills ranging from $652 at the 25th percentile to $2,251 at the 90th percentile. The highest and lowest median tax bills both occur in the 46773 zip code, each being $1,035. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Monroeville Assessed Value
$138,500
Average Allen County Assessed Value
$172,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monroeville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46773 | $43,700 | $96,975 | $138,500 | $192,000 | $272,000 |
Source: Ownwell
Property Tax Bills Across Monroeville, Indiana
In Monroeville, located in Allen County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Homeowners in Monroeville can expect a range of tax bills depending on their property's value, with the 25th percentile tax bill at $652 and the 75th percentile reaching $1546. At the 90th percentile, tax bills can go up to $2251. The median home price in Monroeville is $138,500, which influences the tax amount homeowners are required to pay. Compared to the national median property tax rate of 0.99%, Monroeville’s tax landscape offers a varied range, reflecting the diversity in property values and local tax rates. These tax bills can significantly impact homeowners, affecting their annual budgeting and financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average Monroeville Tax Bill
$1,035
Average Allen County Tax Bill
$1,797
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Monroeville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46773 | $316 | $652 | $1,035 | $1,546 | $2,251 |
Source: Ownwell