Muncie, Delaware County, Indiana Property Taxes
The median property tax rate in Muncie, IN is 1.01%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Muncie, the typical annual property tax bill reaches $1,038, which is below the national median of $2,690. Property taxes in Muncie 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 Muncie'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 Muncie 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
Muncie, Delaware County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$945
$877
Ownwell’s Muncie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Muncie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Muncie 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 Muncie, Delaware County, Indiana
Property taxes in Muncie, Indiana, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Muncie is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Muncie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Muncie 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 Muncie's effective property tax rate to other areas in Delaware County and the national median. For comparison, the 47305 zip code has the highest median property tax rate of 1.89%, while the 47304 zip code has the lowest median tax rate of 0.95%. Understanding how these areas compare with Muncie 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 Muncie Tax Rate
1.01%
Average Delaware County Tax Rate
0.99%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Muncie, Delaware County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47302 | 0.55% | 0.82% | 1.13% | 1.92% | 2.60% |
| 47303 | 0.46% | 0.72% | 1.04% | 1.80% | 2.15% |
| 47304 | 0.72% | 0.87% | 0.95% | 1.08% | 1.86% |
| 47305 | 0.84% | 0.97% | 1.89% | 2.18% | 3.03% |
| 47308 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Muncie, Delaware County, Indiana
In Muncie, 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 Muncie, 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. The median home price in Muncie is $93,600, with tax bills varying significantly across different zip codes. For instance, the highest median tax bill is $1,577 in the 47304 zip code, while the lowest is $634 in the 47305 zip code. 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 Muncie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Muncie, Delaware County, Indiana
Source: Ownwell
$37,300
$119,175
$201,050
Average Muncie Assessed Value
$93,600
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 Muncie, Delaware County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47302 | $22,880 | $33,200 | $49,600 | $85,600 | $162,140 |
| 47303 | $26,040 | $49,500 | $87,400 | $131,000 | $198,360 |
| 47304 | $83,300 | $111,700 | $150,400 | $204,100 | $265,800 |
| 47305 | $17,100 | $25,200 | $37,300 | $57,900 | $94,300 |
| 47308 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Muncie, Delaware County, Indiana
Property tax bills in Muncie, located in Delaware County, Indiana, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $93,600, homeowners can expect to see varying tax bills depending on their specific property’s assessed value and the applicable tax rate. Several factors influence the tax bill, including property size, location, and improvements. In Delaware County, the 25th percentile tax bill is around $570, while the 75th percentile tax bill is approximately $1,716. The 90th percentile tax bill can go up to $2,484, reflecting the range of property values and tax rates within the area. Comparatively, Muncie’s property tax rates can be favorable when contrasted with the national median property tax rate of 0.99%. The highest median tax bill in Muncie is found in the 47304 zip code, at $1,577, while the lowest is in the 47305 zip code, at $634. These figures illustrate the diverse tax landscape within the city, impacting homeowners differently based on their property's assessed value and location.
Average Muncie Tax Bill
$1,038
Average Delaware County Tax Bill
$1,073
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Muncie, Delaware County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47302 | $257 | $419 | $662 | $1,037 | $1,730 |
| 47303 | $282 | $518 | $953 | $1,618 | $2,352 |
| 47304 | $761 | $1,126 | $1,577 | $2,143 | $2,986 |
| 47305 | $232 | $395 | $634 | $948 | $1,424 |
| 47308 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell