Miami County Property Taxes
The median property tax rate in Miami County is 0.80%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Miami County at $92,500, the typical annual property tax bill is $709, significantly less than the national median of $2,690. Property taxes in Miami County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Miami County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Peru or another part of Miami County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Miami County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$740
-$7,755
Ownwell’s Miami County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Miami County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Miami 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 Miami County, Indiana
Property taxes in Miami County, Indiana, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Miami County is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Miami County set these rates annually, and they can vary significantly between different areas within the county. Each year, Miami 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 Miami has one of the higher property tax rates in Indiana at 1.14%, while the city of Greentown boasts one of the lowest at 0.48%. Analyzing how Miami County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Miami County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miami County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Akron | 0.58% | 0.66% | 0.79% | 1.24% | 1.53% |
| Amboy | 0.30% | 0.43% | 0.72% | 1.40% | 2.20% |
| Bunker Hill | 0.35% | 0.49% | 0.68% | 1.14% | 2.02% |
| Converse | 0.49% | 0.64% | 0.88% | 1.73% | 2.23% |
| Deedsville | 0.23% | 0.31% | 0.73% | 1.39% | 1.59% |
| Denver | 0.23% | 0.34% | 0.52% | 0.98% | 1.49% |
| Galveston | 0.30% | 0.42% | 0.52% | 0.67% | 1.48% |
| Greentown | 0.23% | 0.32% | 0.48% | 0.76% | 0.93% |
| Kokomo | 0.30% | 0.42% | 0.54% | 1.10% | 1.50% |
| Macy | 0.29% | 0.44% | 0.68% | 1.20% | 1.68% |
| Mexico | 0.18% | 0.25% | 0.37% | 0.63% | 1.48% |
| Miami | 0.28% | 0.31% | 1.14% | 1.37% | 2.35% |
| Peru | 0.31% | 0.54% | 0.85% | 1.26% | 2.01% |
| Roann | 0.34% | 0.49% | 0.68% | 1.14% | 1.39% |
| Silver Lake | 0.40% | 0.47% | 0.59% | 0.70% | 0.77% |
| Wabash | 0.41% | 0.50% | 0.87% | 1.21% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Miami County, Indiana
In Miami 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 Miami 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 Miami 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 Miami County, the median home price is $92,500, with tax bills ranging from $345 at the 25th percentile to $1,900 at the 90th percentile. Silver Lake has the highest median tax bill at $1,533, while Deedsville has the lowest at $113. 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 Miami County Assessed Value
$92,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Miami County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Akron | $57,080 | $113,600 | $172,100 | $242,525 | $329,110 |
| Amboy | $24,600 | $65,100 | $121,700 | $195,500 | $283,300 |
| Bunker Hill | $35,050 | $75,200 | $121,650 | $190,050 | $277,700 |
| Converse | $38,960 | $69,975 | $109,750 | $153,250 | $221,590 |
| Deedsville | $5,590 | $11,850 | $24,850 | $41,150 | $52,780 |
| Denver | $37,190 | $68,300 | $108,600 | $167,050 | $224,360 |
| Galveston | $44,960 | $79,600 | $166,800 | $218,800 | $313,720 |
| Greentown | $126,720 | $129,600 | $134,400 | $176,050 | $201,040 |
| Kokomo | $32,820 | $66,300 | $126,600 | $194,700 | $272,180 |
| Macy | $20,450 | $52,425 | $100,150 | $156,625 | $239,610 |
| Mexico | $34,960 | $76,700 | $103,200 | $130,300 | $150,800 |
| Miami | $6,900 | $22,375 | $43,100 | $58,175 | $76,700 |
| Peru | $24,600 | $48,800 | $84,100 | $142,000 | $210,100 |
| Roann | $48,150 | $86,075 | $136,600 | $192,850 | $274,070 |
| Silver Lake | $138,620 | $169,700 | $221,500 | $273,300 | $304,380 |
| Wabash | $84,050 | $85,550 | $100,250 | $204,050 | $241,850 |
Source: Ownwell
Property Tax Bills Across Miami County, Indiana
In Miami 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 is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as property size, location, and the condition of the home play a crucial role in the assessment process. Homeowners in Miami County experience varying tax bills, with the 25th percentile paying around $345 and the 75th percentile paying approximately $1,212. The highest median tax bill in the county is found in Silver Lake at $1,533, while the lowest is in Deedsville at $113. These variations can significantly impact homeowners, influencing their overall cost of living and potentially affecting property values. Compared to the national median property tax rate of 0.99%, Miami County offers a range of tax bills that reflect both affordable and higher-end property tax scenarios, depending on specific local factors.
Average Miami County Tax Bill
$709
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Miami County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Akron | $513 | $813 | $1,397 | $2,237 | $3,552 |
| Amboy | $193 | $401 | $810 | $1,373 | $2,306 |
| Bunker Hill | $245 | $516 | $917 | $1,474 | $2,153 |
| Converse | $295 | $583 | $1,058 | $1,639 | $2,465 |
| Deedsville | $78 | $91 | $113 | $194 | $290 |
| Denver | $154 | $287 | $571 | $1,072 | $1,533 |
| Galveston | $153 | $367 | $908 | $1,479 | $1,986 |
| Greentown | $298 | $409 | $594 | $1,436 | $1,941 |
| Kokomo | $197 | $369 | $710 | $1,205 | $2,027 |
| Macy | $149 | $268 | $620 | $1,202 | $2,166 |
| Mexico | $134 | $205 | $373 | $604 | $1,005 |
| Miami | $57 | $135 | $252 | $504 | $816 |
| Peru | $213 | $341 | $699 | $1,176 | $1,814 |
| Roann | $239 | $464 | $833 | $1,544 | $2,581 |
| Silver Lake | $643 | $976 | $1,533 | $2,089 | $2,423 |
| Wabash | $644 | $906 | $1,012 | $1,424 | $2,758 |
Source: Ownwell