Beech Grove, Marion County, Indiana Property Taxes
The median property tax rate in Beech Grove, IN is 1.29%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Beech Grove at $159,800, the typical annual property tax bill reaches $2,237, slightly below the national median of $2,690. Property taxes in Beech Grove are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Beech Grove'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 Beech Grove or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beech Grove, Marion County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$2,061
$1,913
Ownwell’s Beech Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beech Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beech Grove 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 Beech Grove, Marion County, Indiana
Property taxes in Beech Grove, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beech Grove is 1.29%, which is notably higher than the U.S. national median of 0.99%. Local government entities within Beech Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beech Grove 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 Beech Grove's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46107 has the highest median property tax rate of 1.29%, while also having the lowest median tax rate of 1.29%. Understanding how these cities compare with Beech Grove provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beech Grove Tax Rate
1.29%
Average Marion County Tax Rate
1.19%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beech Grove, Marion County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46107 | 1.15% | 1.23% | 1.29% | 1.49% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Beech Grove, Marion County, Indiana
In Beech Grove, 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 Marion 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 Beech Grove, 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 Beech Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,237, found in zip code 46107.
Property Tax Assessment Values Across Beech Grove, Marion County, Indiana
Source: Ownwell
$72,000
$207,650
$343,300
Average Beech Grove Assessed Value
$159,800
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 Beech Grove, Marion County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46107 | $109,810 | $133,000 | $159,800 | $189,200 | $229,980 |
Source: Ownwell
Property Tax Bills Across Beech Grove, Marion County, Indiana
In Beech Grove, Marion County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local property tax rate. For homeowners in Beech Grove, the median home price is $159,800. The tax bill can vary significantly, with the 25th percentile tax bill at $1,767 and the 75th percentile reaching $2,978. At the 90th percentile, homeowners might see tax bills as high as $4,162. Several factors influence these tax bills, including the property's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. The highest median tax bill in the area is $2,237, which is also the lowest, reflecting a uniform rate within the zip code 46107. Compared to the national median property tax rate of 0.99%, Beech Grove's property tax bills can have a significant impact on homeowners, affecting their overall housing costs and financial planning.
Average Beech Grove Tax Bill
$2,237
Average Marion County Tax Bill
$2,364
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Beech Grove, Marion County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46107 | $1,335 | $1,767 | $2,237 | $2,978 | $4,162 |
Source: Ownwell