New Castle, Henry County, Indiana Property Taxes

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

Median NEW CASTLE, IN effective property tax rate: 0.91%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median NEW CASTLE, IN home value: $95,400
Median annual NEW CASTLE, IN tax bill: $897, $1,503 lower than the national median property tax bill of $2,400.

How are property taxes in Henry calculated?

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

Last Updated March 1, 2025

New Castle, Henry County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.91%

Estimate Property Tax Bill

$868

$806

Ownwell’s New Castle Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in New Castle with just two data points. By entering your property's estimated assessed value, our calculator applies New Castle’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 Henry County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across New Castle, Henry County, Indiana

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In New Castle, located in Henry County, Indiana, the effective property tax rate stands at 0.91%. This is slightly below the national median property tax rate of 1.02%, making it relatively affordable compared to the broader U.S. landscape. Indiana’s property tax system, with its uniformity across New Castle, shows a stable and predictable tax environment. While some regions experience fluctuations, New Castle’s rate remains consistent, offering residents a sense of financial stability. Comparing this to the national median property tax bill of $2,400, New Castle's lower rate can lead to significant savings. For property owners in New Castle, understanding these rates can help in making informed decisions about property investments and financial planning.

Property Tax Rates Across New Castle, Henry County, Indiana

Source: Ownwell

0.50%

0.80%

1.10%

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 New Castle Tax Rate

0.91%

Median Effective Henry County Tax Rate

0.91%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across New Castle, Henry County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
47362	0.54%	0.77%	0.91%	1.54%	1.91%

Source: Ownwell

Property Tax Assessment Values Across New Castle, Henry County, Indiana

When examining property taxes in New Castle, 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 Henry County appraisal district 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. Assessment notices: In Henry 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 New Castle. For example, the median home price in New Castle is $95,400, with tax bills ranging significantly across the county. Zip code 47362 has the highest median home price at $95,400.

Property Tax Assessment Values Across New Castle, Henry County, Indiana

Source: Ownwell

$70,100

$152,000

$233,900

Median New Castle Market Value

$95,400

Median Henry County Market Value

$106,800

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across New Castle, Henry County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
47362	$35,790	$54,100	$95,400	$149,425	$209,410

Source: Ownwell

Property Tax Bills Across New Castle, Henry County, Indiana

In New Castle, located in Henry County, IN, property tax bills are calculated based on the assessed value of a home. This value is determined by the local assessor and reflects the market conditions and property characteristics. The property tax rate is then applied to this assessed value to calculate the tax bill. Homeowners in New Castle typically face a median property tax bill of $897, which is significantly lower than the national median of $2400. Factors such as property location, improvements, and local government budgets can influence the tax bill. With the tax bill ranging from $578 at the 25th percentile to $2208 at the 90th percentile, it's clear that there's variability in what homeowners might pay.

Ownwell can assist homeowners in New Castle by reviewing their property assessments to ensure accuracy and fairness. Our experts can identify potential savings by appealing over-assessed values, ensuring homeowners pay only their fair share. By leveraging our expertise, homeowners can potentially lower their tax bills, providing financial relief and peace of mind.

Property Tax Bills Across New Castle, Henry County, Indiana

Source: Ownwell

$508

$1,347

$2,185

Median New Castle Tax Bill

$897

Median Henry County Tax Bill

$960

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across New Castle, Henry County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
47362	$347	$578	$897	$1,453	$2,208

Source: Ownwell