Arcadia, Indiana Property Taxes
The median property tax rate in Arcadia, IN is 0.93%, slightly below both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Arcadia at $156,600, the typical annual property tax bill is around $1,560, which is lower than the national median of $2,690. Property taxes in Arcadia are calculated based on the tax assessed value, often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Arcadia'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 Arcadia or another part of Hamilton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arcadia, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Arcadia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arcadia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arcadia 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 Arcadia, Indiana
Property taxes in Arcadia, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arcadia is 0.93%, which is below the U.S. national median of 0.99%. Local government entities within Arcadia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arcadia 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 Arcadia's effective property tax rate to other areas in Hamilton County and the national median. For comparison, the zip code 46030 has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Arcadia 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 Arcadia Tax Rate
0.93%
Average Hamilton County Tax Rate
1.05%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arcadia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46030 | 0.57% | 0.76% | 0.93% | 1.06% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Arcadia, Indiana
In Arcadia, 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 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 Arcadia, 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 Arcadia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the 46030 zip code are both $1,560, making it essential to understand how these values are calculated.
Average Arcadia Assessed Value
$156,600
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 Arcadia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46030 | $89,100 | $122,000 | $156,600 | $235,750 | $413,800 |
Source: Ownwell
Property Tax Bills Across Arcadia, Indiana
In Arcadia, located in Hamilton County, Indiana, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. For instance, with a median home price of $156,600, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,032, while those in the 75th percentile might see bills as high as $2,425. For the top 10% of property values, tax bills can reach up to $3,880. The tax rate in Arcadia is influenced by local government budgets, school funding, and public services. With a median property tax bill of $1,560, Arcadia's rate is relatively moderate compared to the national median property tax rate of 0.99%. These taxes fund essential services such as education, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors helps residents anticipate their financial obligations and the benefits derived from their tax contributions.
Average Arcadia Tax Bill
$1,560
Average Hamilton County Tax Bill
$3,915
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Arcadia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46030 | $617 | $1,032 | $1,560 | $2,425 | $3,880 |
Source: Ownwell