Monroe County, Indiana Property Taxes
Median Monroe County effective property tax rate: 0.90%, significantly lower than the national median of 1.02%.
Median Monroe County home value: $243,500
Median annual Monroe County tax bill: $2,375, $25 lower than the national median property tax bill of $2,400.
How are property taxes in Monroe County calculated?
Property taxes in Monroe County are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Bloomington or another part of Monroe County, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Monroe County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.9%
Estimate Property Tax Bill
$2,192
$2,034
Property Tax Rates Across Monroe County, Indiana
Local government entities determine tax rates, which can differ significantly across a state. This is because each county annually estimates the budget needed to provide services and divides it by the total assessed value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although the process involves votes and laws to set tax rates and budgets, this is the essence of the annual procedure.
You can compare Monroe County's effective property tax rate to other counties in Indiana or the U.S. median property tax rate. Monroe County has a median property tax rate of 0.90%, which is lower than the national median of 1.02%. Within Indiana, the highest median tax rate is 1.18% in Nashville, while the lowest is 0.50% in Smithville. This variation highlights the importance of understanding local tax dynamics. By being informed, property owners can ensure they are not overpaying their property taxes and can explore potential savings through appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Monroe County Tax Rate
0.90%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Monroe County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bedford | 0.47% | 0.61% | 0.71% | 0.78% | 1.24% |
| Bloomington | 0.57% | 0.69% | 0.91% | 1.27% | 1.83% |
| Ellettsville | 0.61% | 0.78% | 0.90% | 0.98% | 1.58% |
| Gosport | 0.44% | 0.61% | 0.77% | 1.26% | 1.47% |
| Harrodsburg | 0.33% | 0.44% | 0.53% | 0.70% | 0.99% |
| Heltonville | 0.35% | 0.49% | 0.74% | 1.12% | 1.35% |
| Martinsville | 0.49% | 0.55% | 0.66% | 0.92% | 1.15% |
| Nashville | 0.60% | 0.68% | 1.18% | 1.21% | 1.32% |
| Norman | 0.40% | 0.59% | 0.68% | 0.77% | 1.10% |
| Smithville | 0.15% | 0.30% | 0.50% | 0.98% | 1.53% |
| Solsberry | N/A | N/A | N/A | N/A | N/A |
| Spencer | 0.49% | 0.66% | 0.84% | 0.97% | 1.13% |
| Springville | 0.34% | 0.57% | 0.74% | 1.04% | 1.39% |
| Stanford | N/A | N/A | N/A | N/A | N/A |
| Stinesville | 0.32% | 0.41% | 0.55% | 1.07% | 1.66% |
| Unionville | 0.44% | 0.61% | 0.80% | 1.32% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Monroe County, Indiana
When examining property taxes in Monroe County, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Monroe County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
Assessment notices in Monroe County are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Monroe County.
For example, the median tax bill in Monroe County is $2,400, with tax bills ranging significantly across the county. Nashville has the highest median home price at $342,200.
Median Monroe County Market Value
$243,500
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Monroe County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bedford | $120,300 | $198,400 | $239,200 | $337,500 | $444,240 |
| Bloomington | $123,900 | $177,600 | $249,800 | $359,075 | $494,700 |
| Ellettsville | $132,970 | $175,200 | $207,800 | $278,550 | $374,960 |
| Gosport | $58,350 | $121,450 | $180,600 | $247,175 | $324,250 |
| Harrodsburg | $82,140 | $112,725 | $137,800 | $169,475 | $308,500 |
| Heltonville | $63,560 | $114,200 | $193,600 | $287,050 | $551,240 |
| Martinsville | $47,450 | $83,175 | $190,850 | $236,075 | $262,840 |
| Nashville | $119,040 | $247,300 | $342,200 | $484,600 | $636,240 |
| Norman | $131,800 | $160,550 | $203,900 | $281,150 | $309,600 |
| Smithville | $42,260 | $63,600 | $109,000 | $150,900 | $194,100 |
| Solsberry | N/A | N/A | N/A | N/A | N/A |
| Spencer | $140,740 | $174,050 | $221,600 | $284,900 | $403,120 |
| Springville | $84,240 | $145,700 | $209,200 | $294,900 | $388,960 |
| Stanford | N/A | N/A | N/A | N/A | N/A |
| Stinesville | $24,360 | $58,200 | $83,500 | $116,200 | $143,120 |
| Unionville | $99,320 | $168,300 | $251,250 | $433,675 | $626,000 |
Source: Ownwell
Property Tax Bills Across Monroe County, Indiana
Median Monroe County Tax Bill
$2,375
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Monroe County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bedford | $727 | $1,271 | $1,764 | $2,580 | $4,248 |
| Bloomington | $843 | $1,476 | $2,444 | $3,773 | $5,428 |
| Ellettsville | $984 | $1,442 | $1,963 | $2,774 | $3,740 |
| Gosport | $483 | $817 | $1,414 | $2,291 | $3,187 |
| Harrodsburg | $287 | $502 | $740 | $1,085 | $2,074 |
| Heltonville | $270 | $634 | $1,314 | $2,476 | $5,136 |
| Martinsville | $420 | $680 | $1,013 | $1,668 | $2,016 |
| Nashville | $860 | $2,165 | $3,957 | $4,528 | $6,162 |
| Norman | $490 | $940 | $1,433 | $2,368 | $3,085 |
| Smithville | $161 | $310 | $445 | $876 | $1,308 |
| Solsberry | N/A | N/A | N/A | N/A | N/A |
| Spencer | $805 | $1,144 | $1,718 | $2,623 | $3,947 |
| Springville | $419 | $832 | $1,565 | $2,611 | $3,540 |
| Stanford | N/A | N/A | N/A | N/A | N/A |
| Stinesville | $133 | $275 | $515 | $753 | $1,369 |
| Unionville | $597 | $1,095 | $2,362 | $4,282 | $7,310 |
Source: Ownwell