Cicero, Hamilton County, Indiana Property Taxes
The median property tax rate in Cicero, IN is 0.89%, slightly below the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Cicero at $269,300, the typical annual property tax bill reaches $2,518, which is still less than the national median of $2,690. Property taxes in Cicero are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cicero'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 Cicero 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
Cicero, Hamilton County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$2,397
$2,224
Ownwell’s Cicero Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cicero with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cicero 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 Cicero, Hamilton County, Indiana
Property taxes in Cicero, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cicero is 0.89%, which is below the U.S. national median of 0.99%. Local government entities within Cicero set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cicero 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 Cicero's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46034 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Cicero 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 Cicero Tax Rate
0.89%
Average Hamilton County Tax Rate
1.05%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cicero, Hamilton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46034 | 0.62% | 0.81% | 0.89% | 1.00% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Cicero, Hamilton County, Indiana
Understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes in Cicero, Indiana. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors such as location, property condition, and economic trends. This value is determined by the Hamilton County Assessor for tax purposes. On the other hand, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. This assessed value is then used to calculate property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Cicero, assessment notices are generally mailed out in the spring, typically 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 these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For example, the median home price in Cicero is $269,300, with tax bills ranging from $1,627 at the 25th percentile to $4,046 at the 75th percentile. The zip code 46034 has both the highest and lowest median tax bill at $2,518. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cicero, Hamilton County, Indiana
Source: Ownwell
$134,700
$412,000
$689,300
Average Cicero Assessed Value
$269,300
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 Cicero, Hamilton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46034 | $108,040 | $185,800 | $269,300 | $412,900 | $624,400 |
Source: Ownwell
Property Tax Bills Across Cicero, Hamilton County, Indiana
In Cicero, Hamilton County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Cicero, the median home price stands at $269,300. The property tax rate in the area is applied to this value, resulting in varying tax bills. For instance, at the 25th percentile, homeowners might pay around $1,627 annually, while those at the 75th percentile could see bills as high as $4,046. At the 90th percentile, tax bills can reach up to $5,900. These tax bills directly impact homeowners by influencing their monthly mortgage payments and overall housing costs. Compared to the national median property tax rate of 0.99%, Cicero's tax rates reflect the local government's funding needs for public services, schools, and infrastructure, making it crucial for homeowners to stay informed about their property tax obligations.
Average Cicero Tax Bill
$2,518
Average Hamilton County Tax Bill
$3,915
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Cicero, Hamilton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46034 | $771 | $1,627 | $2,518 | $4,046 | $5,900 |
Source: Ownwell