Indianapolis, Indiana Property Taxes
The median property tax rate in Indianapolis, IN is 1.19%, higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Indianapolis at $186,900, the typical annual property tax bill reaches $2,361, which is below the national median of $2,690. Property taxes in Indianapolis are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Indianapolis'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 Indianapolis or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Indianapolis, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$2,224
Ownwell’s Indianapolis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Indianapolis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Indianapolis 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 Indianapolis, Indiana
Property taxes in Indianapolis, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Indianapolis is 1.19%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Indianapolis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Indianapolis 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 Indianapolis's effective property tax rate to other areas in Marion County and the national median. For comparison, the 46218 zip code has the highest median property tax rate of 2.13%, while the 46254 zip code has the lowest median tax rate of 0.98%. Understanding how these areas compare with Indianapolis 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 Indianapolis Tax Rate
1.19%
Average Marion County Tax Rate
1.19%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Indianapolis, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46201 | 0.80% | 1.13% | 1.39% | 2.43% | 2.55% |
| 46202 | 0.86% | 1.16% | 1.24% | 1.99% | 2.38% |
| 46203 | 0.78% | 1.04% | 1.22% | 2.37% | 2.55% |
| 46204 | 1.17% | 1.22% | 1.25% | 2.38% | 2.43% |
| 46205 | 0.86% | 1.11% | 1.25% | 2.03% | 2.38% |
| 46208 | 0.76% | 1.10% | 1.38% | 2.24% | 2.43% |
| 46214 | 1.11% | 1.14% | 1.17% | 1.23% | 2.28% |
| 46216 | 0.99% | 1.04% | 1.05% | 1.07% | 1.09% |
| 46217 | 1.14% | 1.19% | 1.22% | 1.26% | 2.35% |
| 46218 | 0.64% | 0.85% | 2.13% | 2.45% | 2.60% |
| 46219 | 0.75% | 1.00% | 1.15% | 1.83% | 2.29% |
| 46220 | 1.03% | 1.14% | 1.27% | 1.44% | 2.32% |
| 46221 | 0.80% | 1.04% | 1.11% | 2.06% | 2.50% |
| 46222 | 0.72% | 0.93% | 2.10% | 2.39% | 2.51% |
| 46224 | 0.97% | 1.15% | 1.20% | 2.26% | 2.41% |
| 46225 | 0.78% | 1.01% | 1.22% | 2.37% | 2.48% |
| 46226 | 0.66% | 0.87% | 1.17% | 2.09% | 2.29% |
| 46227 | 0.97% | 1.18% | 1.22% | 1.32% | 2.41% |
| 46228 | 0.83% | 0.91% | 1.11% | 1.36% | 1.95% |
| 46229 | 0.85% | 0.97% | 1.10% | 1.61% | 2.19% |
| 46231 | 1.08% | 1.15% | 1.20% | 1.51% | 2.29% |
| 46234 | 0.98% | 1.13% | 1.18% | 1.26% | 2.27% |
| 46235 | 0.79% | 0.97% | 1.04% | 1.94% | 2.19% |
| 46236 | 0.98% | 1.03% | 1.06% | 1.12% | 2.00% |
| 46237 | 0.98% | 1.04% | 1.07% | 1.24% | 2.05% |
| 46239 | 0.96% | 1.00% | 1.05% | 1.16% | 2.01% |
| 46240 | 1.12% | 1.24% | 1.38% | 1.55% | 2.39% |
| 46241 | 1.03% | 1.16% | 1.39% | 2.38% | 2.63% |
| 46250 | 0.97% | 1.04% | 1.24% | 1.41% | 1.66% |
| 46254 | 0.82% | 0.90% | 0.98% | 1.58% | 2.03% |
| 46256 | 0.96% | 1.00% | 1.03% | 1.09% | 1.23% |
| 46259 | 0.98% | 1.02% | 1.05% | 1.12% | 1.49% |
| 46260 | 0.96% | 1.19% | 1.34% | 1.48% | 2.42% |
| 46268 | 0.79% | 0.89% | 0.99% | 1.13% | 1.98% |
| 46278 | 0.90% | 0.97% | 1.03% | 1.08% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Indianapolis, Indiana
In Indianapolis, 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 Indianapolis, 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 city is $4,376 in the 46204 zip code, while the lowest is $1,225 in the 46218 zip code. Being aware of these valuation processes in Indianapolis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Indianapolis Assessed Value
$186,900
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 Indianapolis, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46201 | $63,100 | $82,300 | $113,000 | $155,800 | $227,840 |
| 46202 | $84,800 | $151,400 | $294,800 | $446,500 | $620,160 |
| 46203 | $60,290 | $79,300 | $118,400 | $179,675 | $279,400 |
| 46204 | $108,200 | $219,300 | $312,000 | $440,300 | $690,200 |
| 46205 | $93,900 | $136,025 | $202,250 | $297,950 | $433,080 |
| 46208 | $57,300 | $80,000 | $128,000 | $227,050 | $371,800 |
| 46214 | $137,300 | $161,625 | $194,900 | $228,975 | $266,270 |
| 46216 | $177,600 | $209,425 | $240,700 | $312,200 | $362,490 |
| 46217 | $157,100 | $192,000 | $229,200 | $278,700 | $345,980 |
| 46218 | $45,200 | $56,900 | $72,000 | $94,850 | $120,200 |
| 46219 | $74,700 | $98,500 | $142,700 | $192,000 | $240,260 |
| 46220 | $175,500 | $214,300 | $266,800 | $367,425 | $521,840 |
| 46221 | $62,800 | $97,100 | $164,800 | $206,000 | $242,860 |
| 46222 | $52,300 | $69,300 | $90,200 | $116,700 | $152,870 |
| 46224 | $97,700 | $117,800 | $160,200 | $203,800 | $238,500 |
| 46225 | $65,780 | $83,800 | $111,900 | $167,050 | $288,260 |
| 46226 | $74,530 | $91,700 | $114,500 | $155,600 | $223,270 |
| 46227 | $101,800 | $150,800 | $196,600 | $235,100 | $280,600 |
| 46228 | $146,800 | $185,125 | $229,100 | $282,600 | $358,450 |
| 46229 | $104,200 | $136,300 | $171,300 | $214,300 | $250,000 |
| 46231 | $144,540 | $180,050 | $210,500 | $248,800 | $289,940 |
| 46234 | $135,630 | $167,200 | $205,200 | $256,075 | $334,510 |
| 46235 | $93,340 | $122,000 | $178,600 | $222,400 | $265,860 |
| 46236 | $179,100 | $220,400 | $278,000 | $395,200 | $558,700 |
| 46237 | $138,940 | $173,550 | $216,100 | $271,300 | $342,100 |
| 46239 | $163,800 | $198,600 | $246,700 | $306,900 | $368,720 |
| 46240 | $137,870 | $209,300 | $281,250 | $391,575 | $609,840 |
| 46241 | $60,900 | $83,800 | $111,400 | $155,800 | $197,200 |
| 46250 | $178,030 | $225,450 | $274,100 | $358,625 | $468,900 |
| 46254 | $105,600 | $144,400 | $181,800 | $218,600 | $266,900 |
| 46256 | $195,000 | $243,400 | $291,600 | $379,525 | $497,570 |
| 46259 | $179,130 | $216,950 | $293,900 | $388,475 | $493,350 |
| 46260 | $116,280 | $188,300 | $247,200 | $351,800 | $516,220 |
| 46268 | $116,100 | $161,375 | $219,600 | $258,725 | $295,300 |
| 46278 | $162,200 | $222,700 | $343,300 | $489,300 | $644,000 |
Source: Ownwell
Property Tax Bills Across Indianapolis, Indiana
In Indianapolis, located in Marion County, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. Homeowners can expect their tax bill to be a percentage of this assessed value, influenced by the local tax rate and any applicable exemptions or deductions. Several factors contribute to the final tax bill, including the property's location within the city and any improvements made to the home. For instance, the median home price in Indianapolis is $186,900. Homeowners in the 25th percentile of tax bills pay around $1,622, while those in the 75th percentile face bills of approximately $3,379. The highest median tax bill in the city, found in zip code 46204, is $4,376, whereas the lowest, in zip code 46218, is $1,225. These property tax bills significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding how these factors interplay can help homeowners better anticipate their annual expenses.
Average Indianapolis Tax Bill
$2,361
Average Marion County Tax Bill
$2,364
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Indianapolis, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46201 | $635 | $1,260 | $1,926 | $2,727 | $3,712 |
| 46202 | $996 | $2,187 | $3,965 | $6,230 | $9,040 |
| 46203 | $570 | $1,122 | $1,826 | $2,681 | $4,098 |
| 46204 | $2,378 | $3,058 | $4,376 | $6,849 | $10,535 |
| 46205 | $1,037 | $1,933 | $2,870 | $4,301 | $5,986 |
| 46208 | $534 | $1,256 | $2,073 | $3,503 | $5,250 |
| 46214 | $1,621 | $1,952 | $2,401 | $3,040 | $4,087 |
| 46216 | $1,832 | $2,208 | $2,592 | $3,504 | $4,668 |
| 46217 | $1,861 | $2,392 | $2,944 | $3,846 | $4,996 |
| 46218 | $363 | $591 | $1,225 | $1,706 | $2,240 |
| 46219 | $650 | $1,244 | $1,860 | $2,459 | $3,289 |
| 46220 | $2,248 | $2,826 | $3,698 | $5,110 | $7,030 |
| 46221 | $676 | $1,358 | $1,981 | $2,551 | $3,693 |
| 46222 | $480 | $824 | $1,516 | $2,121 | $2,695 |
| 46224 | $1,086 | $1,520 | $2,279 | $2,823 | $3,694 |
| 46225 | $578 | $1,071 | $1,867 | $2,830 | $4,249 |
| 46226 | $576 | $968 | $1,690 | $2,343 | $3,093 |
| 46227 | $1,186 | $1,986 | $2,553 | $3,184 | $4,190 |
| 46228 | $1,495 | $1,949 | $2,590 | $3,552 | $4,980 |
| 46229 | $1,076 | $1,554 | $2,014 | $2,646 | $3,504 |
| 46231 | $1,782 | $2,192 | $2,715 | $3,786 | $4,727 |
| 46234 | $1,679 | $2,100 | $2,597 | $3,384 | $4,694 |
| 46235 | $847 | $1,590 | $2,168 | $2,779 | $3,743 |
| 46236 | $1,958 | $2,428 | $3,228 | $4,557 | $6,209 |
| 46237 | $1,548 | $1,992 | $2,513 | $3,399 | $4,464 |
| 46239 | $1,818 | $2,210 | $2,808 | $3,581 | $4,365 |
| 46240 | $1,881 | $2,842 | $4,082 | $6,033 | $9,379 |
| 46241 | $716 | $1,270 | $1,790 | $2,412 | $3,099 |
| 46250 | $1,870 | $2,463 | $3,499 | $5,051 | $6,937 |
| 46254 | $978 | $1,509 | $1,918 | $2,581 | $3,583 |
| 46256 | $2,057 | $2,516 | $3,172 | $4,262 | $5,575 |
| 46259 | $1,894 | $2,394 | $3,265 | $4,285 | $5,448 |
| 46260 | $1,667 | $2,402 | $3,472 | $5,025 | $7,472 |
| 46268 | $1,279 | $1,681 | $2,206 | $2,826 | $3,707 |
| 46278 | $1,820 | $2,431 | $3,710 | $5,114 | $6,824 |
Source: Ownwell