New Albany, Floyd County, Indiana Property Taxes
Median New Albany, IN effective property tax rate: 0.98%, slightly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median New Albany, IN home value: $147,800
Median annual New Albany, IN tax bill: $1,599, $801 lower than the national median property tax bill of $2,400.
How are property taxes in Floyd County calculated?
Property taxes in New Albany, IN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding New Albany’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Albany, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Albany, Floyd County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.98%
Estimate Property Tax Bill
$1,448
$1,344
Property Tax Rates Across New Albany, Floyd County, Indiana
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In New Albany, located in Floyd County, Indiana, the effective property tax rate is a critical factor for homeowners to consider. With a median property tax rate of 0.98%, New Albany aligns closely with the state median, offering residents a relatively favorable tax environment compared to the national median of 1.02%. This rate is consistent across the region, providing stability for property owners.
Understanding the property tax landscape is essential for homeowners looking to manage their expenses effectively. By comparing New Albany’s tax rate to other areas within Indiana and the national average, property owners can make informed decisions about their investments. The consistency of the tax rate in New Albany offers predictability, which can be advantageous for long-term financial planning.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective New Albany Tax Rate
0.98%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Floyd County Tax Rate
0.86%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Albany, Floyd County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47150 | 0.60% | 0.76% | 0.98% | 1.48% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across New Albany, Floyd County, Indiana
When examining property taxes in New Albany, Indiana, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Floyd County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Floyd County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in New Albany. For example, the median home price in New Albany is $147,800, with tax bills ranging significantly across the county. ZIP code 47150 has the highest median home price at $147,800.
Property Tax Assessment Values Across New Albany, Floyd County, Indiana
Source: Ownwell
$147,800
$231,250
$314,700
Median New Albany Market Value
$147,800
Median Floyd County Market Value
$183,400
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Albany, Floyd County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47150 | $58,900 | $96,300 | $147,800 | $206,700 | $286,420 |
Source: Ownwell
Property Tax Bills Across New Albany, Floyd County, Indiana
Median New Albany Tax Bill
$1,599
Median Floyd County Tax Bill
$1,788
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across New Albany, Floyd County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47150 | $546 | $1,033 | $1,599 | $2,281 | $3,194 |
Source: Ownwell