Pendleton, Indiana Property Taxes
The median property tax rate in Pendleton, IN is 1.26%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Pendleton at $261,300, the typical annual property tax bill reaches $3,240, exceeding the national median of $2,690. Property taxes in Pendleton 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 Pendleton'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 Pendleton 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
Pendleton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$3,292
Ownwell’s Pendleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pendleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pendleton 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 Pendleton, Indiana
Property taxes in Pendleton, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pendleton is 1.26%, which is notably higher than the U.S. national median of 0.99%. Local government entities within Pendleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pendleton 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 Pendleton's effective property tax rate to other areas in Hamilton County and the national median. For comparison, the 46064 zip code has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these values compare with Pendleton 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 Pendleton Tax Rate
1.26%
Average Hamilton County Tax Rate
1.05%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pendleton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46064 | 0.95% | 1.06% | 1.26% | 1.45% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Pendleton, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pendleton, Indiana. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 Pendleton, 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 Pendleton is $261,300, with tax bills ranging from $2,807 at the 25th percentile to $3,934 at the 90th percentile. Notably, the zip code 46064 has the highest median tax bill at $3,240. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage the tax burden.
Average Pendleton Assessed Value
$261,300
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 Pendleton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46064 | $252,740 | $255,950 | $261,300 | $266,650 | $269,860 |
Source: Ownwell
Property Tax Bills Across Pendleton, Indiana
In Pendleton, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. For homeowners in Pendleton, the median home price is $261,300, and the property tax rate in Hamilton County is reflective of this valuation. Several factors influence the assessed value, including the home's market value, location, and any improvements made to the property. Homeowners can expect to pay varying amounts based on these assessments. For instance, tax bills in the 25th percentile are around $2,807, while those in the 75th percentile reach up to $3,674. The highest median tax bill in the area is $3,240, which is higher than the national median property tax rate of 0.99%. These tax bills significantly impact homeowners, as they represent a substantial annual expense that must be budgeted for, influencing both short-term financial planning and long-term investment decisions.
Average Pendleton Tax Bill
$3,240
Average Hamilton County Tax Bill
$3,915
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Pendleton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46064 | $2,546 | $2,807 | $3,240 | $3,674 | $3,934 |
Source: Ownwell