Carmel, Hamilton County, Indiana Property Taxes

Name: Property Tax Bills Across Carmel, Hamilton County, Indiana
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Carmel, IN effective property tax rate: 1.01%, slightly lower than the national median of 1.02%, but higher than the Indiana state median of 0.99%.
Median Carmel, IN home value: $421,400
Median annual Carmel, IN tax bill: $4,374, $1,974 higher than the national median property tax bill of $2,400.

How are property taxes in Hamilton calculated?

Property taxes in Carmel, 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 Carmel’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Carmel, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Carmel, Hamilton County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.01%

Estimate Property Tax Bill

$4,256

$3,950

Ownwell’s Carmel Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Carmel with just two data points. By entering your property's estimated assessed value, our calculator applies Carmel’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Hamilton County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Carmel, Hamilton County, Indiana

Local government entities are responsible for setting tax rates, leading to variations within Indiana. Each county, including Hamilton, calculates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this calculation is the crux of the annual process. Carmel, located in Hamilton County, offers an effective property tax rate that can be compared to other cities in Indiana. The median property tax rate in Indiana is slightly below the national median, making it an attractive option for property owners. In comparison, Indiana's highest median tax rate is found in the 46290 zip code, while the lowest is in the 46280 zip code. Understanding these variations can help property owners make informed decisions about where to invest or settle.

Property Tax Rates Across Carmel, Hamilton County, Indiana

Source: Ownwell

0.74%

1.05%

1.36%

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 Carmel Tax Rate

1.01%

Median Effective Hamilton County Tax Rate

1.05%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Carmel, Hamilton County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46032	0.84%	0.94%	1.02%	1.10%	1.60%
46033	0.88%	0.95%	1.01%	1.08%	1.16%
46074	0.93%	0.96%	1.00%	1.06%	1.13%
46280	0.72%	0.87%	0.97%	1.13%	1.84%
46290	1.02%	1.08%	1.13%	1.30%	2.41%

Source: Ownwell

Property Tax Assessment Values Across Carmel, Hamilton County, Indiana

When examining property taxes in Carmel, 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 Hamilton 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 Hamilton 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 Carmel. For example, the median home price in Carmel is $421,400, with tax bills ranging significantly across the county. Zip code 46074 has the highest median home price at $527,350.

Property Tax Assessment Values Across Carmel, Hamilton County, Indiana

Source: Ownwell

$134,700

$412,000

$689,300

Median Carmel Market Value

$421,400

Median Hamilton County Market Value

$355,800

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Carmel, Hamilton County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46032	$218,800	$310,250	$416,100	$616,000	$895,300
46033	$294,470	$353,700	$435,600	$567,800	$701,230
46074	$367,530	$439,625	$527,350	$649,100	$788,260
46280	$148,560	$187,700	$236,900	$304,200	$379,960
46290	$304,700	$400,800	$487,400	$655,250	$774,400

Source: Ownwell

Property Tax Bills Across Carmel, Hamilton County, Indiana

In Carmel, located in Hamilton County, IN, property tax bills are determined by assessing the property's market value and applying the local tax rate. With a median home price of $421,400, property taxes can significantly impact homeowners' finances. The tax bill can vary widely, with the 25th percentile at $3,277 and the 75th percentile reaching $6,025. Some homeowners may experience even higher bills, with the 90th percentile hitting $8,269. This variation is influenced by factors such as property location, size, and local government budgets. For example, the highest median tax bill in the area is $6,065 in the 46290 zip code, while the lowest is $2,515 in the 46280 zip code. These figures often exceed the national median property tax bill of $2,400, making it crucial for homeowners to seek possible reductions. Ownwell can assist by identifying potential errors in property assessments and filing appeals, helping homeowners save on their property tax bills and ensuring they are not overpaying.

Property Tax Bills Across Carmel, Hamilton County, Indiana

Source: Ownwell

$1,274

$4,471

$7,667

Median Carmel Tax Bill

$4,374

Median Hamilton County Tax Bill

$3,915

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Carmel, Hamilton County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46032	$2,070	$3,190	$4,422	$6,501	$9,452
46033	$2,897	$3,640	$4,442	$5,836	$7,388
46074	$3,782	$4,423	$5,264	$6,700	$8,437
46280	$1,222	$1,802	$2,515	$3,428	$4,588
46290	$4,326	$4,835	$6,065	$8,159	$9,879

Source: Ownwell