Fishers, Indiana Property Taxes
The median property tax rate in Fishers, IN is 1.07%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Fishers at $350,200, the typical annual property tax bill reaches $3,983, surpassing the national median of $2,690. Property taxes in Fishers 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 Fishers' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fishers 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
Fishers, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$3,747
Ownwell’s Fishers Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Fishers. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Fishers to provide an accurate estimate of your property tax bill. This valuable tool offers clarity on potential tax liabilities, empowering you to make informed financial decisions. For those interested in more detailed insights, including neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is determined by Hamilton County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Fishers, Indiana
Property taxes in Fishers, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fishers is 1.07%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Fishers set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fishers 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 Fishers' effective property tax rate to other areas in Hamilton County and the national median. For comparison, the 46055 zip code has the highest median property tax rate of 1.11%, while the 46038 zip code has the lowest median tax rate of 1.04%. Understanding how these areas compare with Fishers provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fishers Tax Rate
1.07%
Average Hamilton County Tax Rate
1.05%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fishers, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46037 | 0.99% | 1.05% | 1.09% | 1.12% | 1.40% |
| 46038 | 0.92% | 0.99% | 1.04% | 1.10% | 1.89% |
| 46040 | 0.98% | 1.02% | 1.10% | 1.13% | 1.17% |
| 46055 | 1.04% | 1.05% | 1.11% | 1.13% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Fishers, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fishers, 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 Hamilton 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 Fishers, 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 example, the median home price in Fishers is $350,200, with tax bills ranging from $3,034 at the 25th percentile to $6,594 at the 90th percentile. The highest median tax bill is $7,667 in the 46055 zip code, while the lowest median tax bill is $3,319 in the 46038 zip code. By understanding these valuation concepts, 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 Fishers Assessed Value
$350,200
Average Hamilton County Assessed Value
$355,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fishers, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46037 | $248,400 | $294,900 | $383,600 | $467,500 | $579,880 |
| 46038 | $223,600 | $260,100 | $301,100 | $359,950 | $431,000 |
| 46040 | $378,560 | $433,500 | $516,000 | $642,700 | $832,600 |
| 46055 | $553,800 | $599,300 | $689,300 | $1,202,050 | $1,646,300 |
Source: Ownwell
Property Tax Bills Across Fishers, Indiana
In Fishers, Hamilton County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Fishers is $350,200, and homeowners in the 25th percentile can expect a tax bill of around $3,034, while those in the 75th percentile may see bills as high as $5,160. The highest median tax bill in the area reaches $7,667 in the 46055 zip code, whereas the lowest is $3,319 in the 46038 zip code. These variations in tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Fishers' property tax bills reflect the local economic conditions and the funding requirements for public services such as schools, infrastructure, and emergency services.
Average Fishers Tax Bill
$3,983
Average Hamilton County Tax Bill
$3,915
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Fishers, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46037 | $2,620 | $3,352 | $4,341 | $5,301 | $6,653 |
| 46038 | $2,126 | $2,684 | $3,319 | $4,197 | $5,383 |
| 46040 | $3,821 | $4,613 | $5,606 | $7,080 | $9,312 |
| 46055 | $5,890 | $6,535 | $7,667 | $13,216 | $18,582 |
Source: Ownwell