Clayton, Indiana Property Taxes
The median property tax rate in Clayton, IN is 0.69%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Clayton at $219,100, the typical annual property tax bill reaches $1,611, which is also below the national median of $2,690. Property taxes in Clayton are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clayton'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 Clayton or another part of Hendricks County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clayton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$1,512
Ownwell’s Clayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayton 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 Clayton, Indiana
Property taxes in Clayton, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clayton is 0.69%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Clayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayton 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 Clayton's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46118 has both the highest and lowest median property tax rate of 0.69%. Understanding how these areas compare with Clayton provides valuable insights into the varying tax landscape across Hendricks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clayton Tax Rate
0.69%
Average Hendricks County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46118 | 0.48% | 0.60% | 0.69% | 0.86% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Clayton, Indiana
In Clayton, 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 local assessment authorities 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 Clayton, 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 Clayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Clayton is $1,611 in the 46118 zip code, while the lowest median tax bill is also $1,611 in the same zip code.
Average Clayton Assessed Value
$219,100
Average Hendricks County Assessed Value
$256,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clayton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46118 | $94,800 | $150,200 | $219,100 | $299,850 | $411,620 |
Source: Ownwell
Property Tax Bills Across Clayton, Indiana
Property tax bills in Clayton, located in Hendricks County, IN, are calculated based on the assessed value of properties. The local government determines this value, which reflects the market value of the property. Homeowners in Clayton can expect their property tax bills to vary significantly, with the 25th percentile at $1,000 and the 75th percentile at $2,362. At the higher end, the 90th percentile reaches $3,372. The median home price in Clayton is $219,100, and the property tax rate is a crucial factor in determining the final tax bill. The assessed value, combined with the local tax rate, dictates the amount homeowners owe. This rate is often compared to the national median property tax rate of 0.99%, providing a benchmark for homeowners to understand their tax obligations. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Consequently, homeowners in Clayton must budget for these taxes as part of their annual expenses, ensuring they contribute to the community's overall well-being.
Average Clayton Tax Bill
$1,611
Average Hendricks County Tax Bill
$2,647
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46118 | $538 | $1,000 | $1,611 | $2,362 | $3,372 |
Source: Ownwell