Anderson, Indiana Property Taxes
The median property tax rate in Anderson, IN is 1.12%, which is higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Anderson at $83,800, the typical annual property tax bill amounts to $1,109, falling below the national median of $2,690. Property taxes in Anderson are calculated based on the assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Anderson'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 Anderson or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Anderson, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$939
Ownwell’s Anderson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Anderson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Anderson 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 Anderson, Indiana
Property taxes in Anderson, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Anderson is 1.12%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Anderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Anderson 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 Anderson's effective property tax rate to other areas in Indiana and the national median. For comparison, the 46018 zip code has the highest median property tax rate of 4.77%, while the 46013 zip code has the lowest median tax rate of 1.09%. Understanding how these cities compare with Anderson provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Anderson Tax Rate
1.12%
Average Madison County Tax Rate
1.09%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Anderson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46011 | 0.72% | 0.99% | 1.10% | 1.57% | 2.25% |
| 46012 | 0.77% | 1.05% | 1.11% | 2.19% | 2.28% |
| 46013 | 0.58% | 0.92% | 1.09% | 1.98% | 2.26% |
| 46014 | N/A | N/A | N/A | N/A | N/A |
| 46015 | 3.13% | 3.13% | 3.13% | 3.13% | 3.13% |
| 46016 | 0.99% | 1.10% | 2.24% | 2.28% | 3.43% |
| 46017 | 0.71% | 0.95% | 1.09% | 1.83% | 2.27% |
| 46018 | 4.77% | 4.77% | 4.77% | 4.77% | 4.77% |
Source: Ownwell
Property Tax Assessment Values Across Anderson, Indiana
In Anderson, 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 Madison 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 Anderson, 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. For instance, the highest median tax bill in the area is $1,354 in the 46011 zip code, while the lowest is $138 in the 46018 zip code. Being aware of these valuation processes in Anderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Anderson Assessed Value
$83,800
Average Madison County Assessed Value
$92,550
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Anderson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46011 | $47,000 | $76,900 | $112,150 | $154,975 | $218,050 |
| 46012 | $42,300 | $62,500 | $96,400 | $136,400 | $176,300 |
| 46013 | $44,100 | $64,200 | $93,900 | $129,100 | $167,810 |
| 46014 | N/A | N/A | N/A | N/A | N/A |
| 46015 | $21,600 | $21,600 | $21,600 | $21,600 | $21,600 |
| 46016 | $18,000 | $28,800 | $41,900 | $58,750 | $78,300 |
| 46017 | $45,400 | $68,900 | $96,300 | $129,700 | $176,100 |
| 46018 | $2,900 | $2,900 | $2,900 | $2,900 | $2,900 |
Source: Ownwell
Property Tax Bills Across Anderson, Indiana
In Anderson, located in Madison County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value reflects the market value of the property. Homeowners in Anderson face varying tax bills, influenced by the assessed value and the local tax rate. For instance, the median home price in Anderson is $83,800, and the property tax rate is applied to this value to determine the tax bill. Factors such as property improvements, neighborhood characteristics, and local government budgets can impact the assessed value. Homeowners in Anderson can expect tax bills ranging widely, with the 25th percentile tax bill at $695 and the 75th percentile reaching $1,640. The highest median tax bill in the region is $1,354 in the 46011 zip code, while the lowest is $138 in the 46018 zip code. These variations significantly affect homeowners, influencing their annual financial planning and overall cost of living.
Average Anderson Tax Bill
$1,109
Average Madison County Tax Bill
$1,130
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Anderson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46011 | $476 | $868 | $1,354 | $1,975 | $2,840 |
| 46012 | $460 | $826 | $1,242 | $1,749 | $2,463 |
| 46013 | $411 | $732 | $1,095 | $1,576 | $2,273 |
| 46014 | N/A | N/A | N/A | N/A | N/A |
| 46015 | $677 | $677 | $677 | $677 | $677 |
| 46016 | $282 | $508 | $802 | $1,173 | $1,678 |
| 46017 | $395 | $667 | $1,172 | $1,692 | $2,544 |
| 46018 | $138 | $138 | $138 | $138 | $138 |
Source: Ownwell