Alexandria, Indiana Property Taxes
The median property tax rate in Alexandria, Indiana is 0.71%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Alexandria at $131,900, the typical annual property tax bill reaches $1,051, well below the national median of $2,690. Property taxes in Alexandria are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Alexandria'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 Alexandria 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
Alexandria, 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 Alexandria Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Alexandria with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Alexandria to provide an estimate of your property tax bill. This invaluable tool helps you understand potential tax liabilities. For those interested in more granular insights, scrolling down will reveal trends at the neighborhood level. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Alexandria, Indiana
Property taxes in Alexandria, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alexandria is 0.71%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Alexandria set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alexandria 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 Alexandria's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46001 has both the highest and lowest median property tax rate of 0.71%. Understanding how these areas compare with Alexandria provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alexandria Tax Rate
0.71%
Average Delaware County Tax Rate
0.99%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alexandria, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46001 | 0.41% | 0.55% | 0.71% | 1.01% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Alexandria, Indiana
In Alexandria, 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 Delaware 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 Alexandria, 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 Alexandria helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 46001, with a median tax bill of $1,051, which is crucial for local homeowners to note.
Average Alexandria Assessed Value
$131,900
Average Delaware County Assessed Value
$101,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alexandria, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46001 | $59,400 | $92,400 | $131,900 | $183,200 | $276,040 |
Source: Ownwell
Property Tax Bills Across Alexandria, Indiana
In Alexandria, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Various factors influence the assessed value, including the home's market value, location, and any improvements made to the property. Homeowners in Alexandria can expect a median property tax bill of $1,051, which is significantly higher than the national median property tax rate of 0.99%. For instance, homeowners at the 25th percentile pay approximately $615, while those at the 75th percentile pay around $1,694. At the 90th percentile, the tax bill can reach up to $2,441. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in Alexandria. Therefore, understanding how property taxes are calculated and what influences them is crucial for homeowners to manage their financial planning effectively.
Average Alexandria Tax Bill
$1,051
Average Delaware County Tax Bill
$1,073
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Alexandria, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46001 | $285 | $615 | $1,051 | $1,694 | $2,441 |
Source: Ownwell