Marion County, Indiana Property Taxes
The median property tax rate in Marion County is 1.19%, which is significantly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Marion County at $186,900, the typical annual property tax bill reaches $2,364. Property taxes in Marion County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Marion County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Indianapolis or another part of Marion County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marion County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$2,224
$2,064
Ownwell’s Marion County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marion County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Marion County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Marion County, Indiana
Property taxes in Marion County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Marion County is 1.19%, which is higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Marion County set these rates annually, and they can vary significantly between different areas within the county. Each year, Marion County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Southport has one of the higher property tax rates in Indiana at 1.30%, while the city of West Newton boasts one of the lowest at 1.09%. Analyzing how Marion County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Marion County Tax Rate
1.19%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marion County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beech Grove | 1.15% | 1.23% | 1.29% | 1.49% | 2.64% |
| Camby | 0.95% | 1.07% | 1.10% | 1.49% | 2.12% |
| Indianapolis | 0.85% | 1.03% | 1.19% | 1.88% | 2.40% |
| Southport | 1.23% | 1.24% | 1.30% | 2.42% | 2.47% |
| West Newton | 0.94% | 1.03% | 1.09% | 2.01% | 2.10% |
| Zionsville | 1.04% | 1.06% | 1.14% | 1.25% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Marion County, Indiana
In Marion County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Marion County Appraisal District. The assessed value, however, 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. Assessment notices in Marion County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Marion County, the highest median tax bill is in Zionsville at $3,997, while the lowest is in West Newton at $1,742. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Marion County Assessed Value
$186,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marion County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beech Grove | $109,810 | $133,000 | $159,800 | $189,200 | $229,980 |
| Camby | $177,200 | $204,300 | $232,800 | $270,325 | $308,710 |
| Indianapolis | $75,500 | $114,800 | $186,900 | $256,100 | $357,600 |
| Southport | $109,680 | $169,800 | $192,200 | $223,400 | $271,760 |
| West Newton | $71,350 | $115,375 | $141,600 | $180,200 | $248,860 |
| Zionsville | $170,260 | $239,650 | $327,400 | $487,500 | $743,560 |
Source: Ownwell
Property Tax Bills Across Marion County, Indiana
Property tax bills in Marion County, Indiana, are determined by a combination of the assessed value of a property and the tax rate set by local taxing authorities. The assessed value is based on the market value of the home, with the median home price in the county being $186,900. Homeowners in Marion County can expect their tax bills to vary significantly, with the 25th percentile tax bill at $1,630 and the 75th percentile tax bill at $3,377. For those at the 90th percentile, tax bills can reach up to $4,808. Local factors, such as the specific area's tax rate and any applicable exemptions, play a crucial role in determining the final tax bill. For instance, Zionsville has the highest median tax bill in the county at $3,997, while West Newton has the lowest at $1,742. These variations can significantly impact homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Marion County's tax rates reflect the local economic conditions and funding needs.
Average Marion County Tax Bill
$2,364
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Marion County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beech Grove | $1,335 | $1,767 | $2,237 | $2,978 | $4,162 |
| Camby | $1,964 | $2,300 | $2,724 | $3,685 | $4,822 |
| Indianapolis | $877 | $1,622 | $2,361 | $3,379 | $4,817 |
| Southport | $1,355 | $2,204 | $2,674 | $3,962 | $5,216 |
| West Newton | $478 | $1,261 | $1,742 | $2,714 | $3,552 |
| Zionsville | $2,077 | $2,830 | $3,997 | $5,766 | $8,500 |
Source: Ownwell