Camby, Hendricks County, Indiana Property Taxes
The median property tax rate in Camby, IN is 0.78%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $175,000 in Camby, the typical annual property tax bill amounts to $1,654, significantly below the national median of $2,690. Property taxes in Camby are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Camby'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 Camby or another part of Hendricks County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Camby, Hendricks County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,365
$1,267
Ownwell’s Camby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Camby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Camby 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 Camby, Hendricks County, Indiana
Property taxes in Camby, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Camby is 0.78%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Camby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Camby 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 Camby's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46113 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these areas compare with Camby 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 Camby Tax Rate
0.78%
Average Hendricks County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Camby, Hendricks County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46113 | 0.63% | 0.68% | 0.78% | 1.48% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Camby, Hendricks County, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Camby, 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 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 Camby, 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 Camby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Camby are both $1,654, found in the zip code 46113.
Property Tax Assessment Values Across Camby, Hendricks County, Indiana
Source: Ownwell
$118,250
$293,525
$468,800
Average Camby Assessed Value
$175,000
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 Camby, Hendricks County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46113 | $145,900 | $159,750 | $175,000 | $205,125 | $248,050 |
Source: Ownwell
Property Tax Bills Across Camby, Hendricks County, Indiana
In Camby, located in Hendricks County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value and apply a specific assessment ratio. Homeowners in Camby can expect a median property tax rate that aligns closely with the national median of 0.99%. For a home with a median price of $175,000, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $1,179, while those at the 75th percentile could see bills as high as $2,361. At the 90th percentile, the tax bill can reach up to $2,941. These taxes fund essential local services like schools, public safety, and infrastructure, directly impacting the community's quality of life. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Camby Tax Bill
$1,654
Average Hendricks County Tax Bill
$2,647
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Camby, Hendricks County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46113 | $934 | $1,179 | $1,654 | $2,361 | $2,941 |
Source: Ownwell