Pittsboro, Hendricks County, Indiana Property Taxes
The median property tax rate in Pittsboro, IN is 0.98%, slightly below the state median of 0.99% and just under the national median of 0.99%. With the median home value in Pittsboro at $286,100, the typical annual property tax bill is $2,855, surpassing the national median of $2,690. Property taxes in Pittsboro 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 Pittsboro'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 Pittsboro 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
Pittsboro, Hendricks County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$2,804
$2,602
Ownwell’s Pittsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pittsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pittsboro 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 Hendricks County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Pittsboro, Hendricks County, Indiana
Property taxes in Pittsboro, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pittsboro is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within Pittsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pittsboro 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 Pittsboro's effective property tax rate to other areas in Indiana and the national median. For comparison, the 46167 zip code has the highest median property tax rate of 0.98%, while the same zip code also reflects the lowest median tax rate of 0.98%. Understanding how these cities compare with Pittsboro 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 Pittsboro Tax Rate
0.98%
Average Hendricks County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pittsboro, Hendricks County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46167 | 0.83% | 0.92% | 0.98% | 1.05% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Pittsboro, Hendricks County, Indiana
In Pittsboro, 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 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 Pittsboro, 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 Pittsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Pittsboro, found in zip code 46167, is $2,855.
Property Tax Assessment Values Across Pittsboro, Hendricks County, Indiana
Source: Ownwell
$118,250
$293,525
$468,800
Average Pittsboro Assessed Value
$286,100
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 Pittsboro, Hendricks County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46167 | $168,400 | $211,450 | $286,100 | $370,600 | $485,740 |
Source: Ownwell
Property Tax Bills Across Pittsboro, Hendricks County, Indiana
In Pittsboro, property tax bills are calculated based on the assessed value of the property, which is determined by the local government. The assessed value is a percentage of the market value of the home. For instance, with a median home price of $286,100, the tax bill can vary widely depending on the assessed value and applicable tax rate. Homeowners in Pittsboro can expect tax bills ranging from $2,140 at the 25th percentile to $4,995 at the 90th percentile. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value. The highest median tax bill recorded in the area is $2,855, which aligns with the zip code 46167. This figure is notably higher than the national median property tax rate of 0.99%, reflecting the local economic conditions and funding requirements for public services. Homeowners need to be aware of these factors as they directly impact the annual property tax bill and, consequently, their financial planning.
Average Pittsboro Tax Bill
$2,855
Average Hendricks County Tax Bill
$2,647
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Pittsboro, Hendricks County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46167 | $1,657 | $2,140 | $2,855 | $3,727 | $4,995 |
Source: Ownwell