Pendleton, Madison County, Indiana Property Taxes
The median property tax rate in Pendleton, IN is 0.96%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Pendleton at $217,550, the typical annual property tax bill reaches $1,997, which is below the national median of $2,690. Property taxes in Pendleton are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Pendleton'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 Pendleton 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
Pendleton, Madison County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,088
$1,938
Ownwell’s Pendleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pendleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pendleton 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 Pendleton, Madison County, Indiana
Property taxes in Pendleton, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pendleton is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Pendleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pendleton 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 Pendleton's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46064 zip code has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these cities compare with Pendleton 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 Pendleton Tax Rate
0.96%
Average Madison County Tax Rate
1.09%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pendleton, Madison County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46064 | 0.46% | 0.82% | 0.96% | 1.03% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Pendleton, Madison County, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pendleton, Madison County, 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 local appraisal district 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 Pendleton, 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. The median home price in Pendleton is $217,550, with tax bills ranging from $1,261 at the 25th percentile to $3,993 at the 90th percentile. The zip code 46064 has both the highest and lowest median tax bill, at $1,997. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pendleton, Madison County, Indiana
Source: Ownwell
$41,900
$129,725
$217,550
Average Pendleton Assessed Value
$217,550
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 Pendleton, Madison County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46064 | $109,300 | $160,425 | $217,550 | $293,500 | $379,690 |
Source: Ownwell
Property Tax Bills Across Pendleton, Madison County, Indiana
In Pendleton, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. These assessments consider various factors, including the property's size, location, and market conditions. Homeowners in Pendleton can expect their tax bills to reflect these assessed values, which are then multiplied by the local tax rate to determine the final amount owed. The median home price in Pendleton is $217,550, and property tax bills can vary widely. For instance, the 25th percentile tax bill is $1,261, while the 75th percentile tax bill climbs to $2,872. At the 90th percentile, homeowners could be paying as much as $3,993. Comparatively, the national median property tax rate is 0.99%, which helps put Pendleton's rates into perspective. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how these taxes are calculated and the factors influencing them is essential for financial planning and assessing the overall cost of homeownership in the area.
Average Pendleton Tax Bill
$1,997
Average Madison County Tax Bill
$1,130
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Pendleton, Madison County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46064 | $307 | $1,261 | $1,997 | $2,872 | $3,993 |
Source: Ownwell