Amo, Indiana Property Taxes
The median property tax rate in Amo, Indiana is 0.87%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Amo at $118,250, the typical annual property tax bill reaches $1,093, which is below the national median of $2,690. Property taxes in Amo 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 Amo'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 Amo 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
Amo, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,029
Ownwell’s AMO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in AMO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in AMO 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 Amo, Indiana
Property taxes in Amo, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amo is 0.87%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Amo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amo 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 Amo's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46103 zip code has the highest median property tax rate of 0.87%, while the 46103 zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Amo provides valuable insights into the varying tax landscape across Hendricks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amo Tax Rate
0.87%
Average Hendricks County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amo, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46103 | 0.53% | 0.69% | 0.87% | 1.80% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Amo, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Amo, Indiana. 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 Hendricks County Assessor's Office 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 Amo, 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. For instance, the median home price in Amo is $118,250, with tax bills ranging from $595 at the 25th percentile to $2,292 at the 90th percentile. The highest and lowest median tax bills are both $1,093, found in the 46103 zip code. By understanding 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 Amo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amo Assessed Value
$118,250
Average Hendricks County Assessed Value
$256,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amo, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46103 | $19,830 | $93,175 | $118,250 | $160,800 | $195,290 |
Source: Ownwell
Property Tax Bills Across Amo, Indiana
In AMO, located in Hendricks County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in AMO face a median property tax rate of 0.92%, slightly below the national median of 0.99%. This rate is applied to the assessed value to determine the annual tax bill. Several factors influence the tax bill, including the home's assessed value, any applicable exemptions, and local tax rates. For example, homeowners in the 25th percentile pay around $595 annually, while those in the 75th percentile pay approximately $1,750. The 90th percentile sees tax bills as high as $2,292. These variations highlight how property values and local tax policies impact what homeowners owe. Understanding these factors is crucial for homeowners as property taxes significantly affect annual household expenses, influencing both short-term budgets and long-term financial planning.
Average Amo Tax Bill
$1,093
Average Hendricks County Tax Bill
$2,647
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Amo, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46103 | $264 | $595 | $1,093 | $1,750 | $2,292 |
Source: Ownwell