Brownsburg, Indiana Property Taxes
The median property tax rate in Brownsburg, IN is 0.78%, 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 Brownsburg at $234,500, the typical annual property tax bill comes to $2,174, slightly below 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, understanding 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
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Brownsburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Brownsburg with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Brownsburg to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Brownsburg, Indiana
Property taxes in Brownsburg, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brownsburg is 0.78%, 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 areas in Indiana and the national median. For comparison, the zip code 46112 in Brownsburg has a median property tax rate of 0.78%, which is consistent across the area. Understanding how Brownsburg compares with other regions provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brownsburg Tax Rate
0.78%
Average Boone County Tax Rate
1.01%
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 | 0.44% | 0.63% | 0.78% | 1.22% | 1.40% |
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 Boone 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 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 zip code 46112 has both the highest and lowest median tax bills at $2,174, reflecting the uniformity in assessed valuations within the area.
Average Brownsburg Assessed Value
$234,500
Average Boone County Assessed Value
$327,200
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 | $104,600 | $138,000 | $234,500 | $505,700 | $636,180 |
Source: Ownwell
Property Tax Bills Across Brownsburg, Indiana
In Brownsburg, located in Boone County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The median home price in Brownsburg is $234,500, and property tax rates are applied to this assessed value to determine the tax bill. The property tax rate in Brownsburg is notably lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For instance, the 25th percentile of tax bills in Brownsburg is $1,416, while the 75th percentile reaches $4,411, and the 90th percentile goes up to $6,766. These figures illustrate the range of property tax bills homeowners can expect based on their property's assessed value and specific circumstances. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly, ensuring they are prepared for their annual tax bill.
Average Brownsburg Tax Bill
$2,174
Average Boone County Tax Bill
$3,263
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 | $440 | $1,416 | $2,174 | $4,411 | $6,766 |
Source: Ownwell