Greenwood, Morgan County, Indiana Property Taxes

Name: Property Tax Bills Across Greenwood, Morgan County, Indiana
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Greenwood, IN effective property tax rate: 1.21%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Greenwood, IN home value: $92,700
Median annual Greenwood, IN tax bill: $1,120, $1,280 lower than the national median property tax bill of $2,400.

How are property taxes in Morgan County calculated?

Property taxes in Greenwood, IN 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 Greenwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Greenwood, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Greenwood, Morgan County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.21%

Estimate Property Tax Bill

$1,122

$1,041

Ownwell’s Greenwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Greenwood with just two data points. By entering your property's estimated assessed value, our calculator applies Greenwood’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Morgan County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Greenwood, Morgan County, Indiana

Local government entities determine tax rates, which can significantly differ within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the yearly process. In Greenwood, located in Morgan County, Indiana, the property tax rate is a reflection of this local budgeting process. Comparing Greenwood’s effective property tax rate with other cities in Indiana and the median rates in the state and across the U.S. can provide valuable insights. Indiana’s median property tax rate is 1.21%, which is above the national median of 1.02%. Understanding how Greenwood's rate aligns with these figures can help property owners make informed decisions about appealing their property tax assessments or seeking exemptions. This knowledge is crucial in navigating the complexities of property taxation and ensuring that you are not overpaying on your property taxes.

Property Tax Rates Across Greenwood, Morgan County, Indiana

Source: Ownwell

0.41%

0.73%

1.05%

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 Greenwood Tax Rate

1.21%

Median Effective Morgan County Tax Rate

0.54%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Greenwood, Morgan County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46143	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Greenwood, Morgan County, Indiana

When examining property taxes in Greenwood, Indiana, 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 Morgan County Assessor 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.

In Morgan County, assessment notices 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 Greenwood. For example, the median home price in Greenwood is $92,700, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Greenwood, Morgan County, Indiana

Source: Ownwell

$125,500

$237,300

$349,100

Median Greenwood Market Value

$92,700

Median Morgan County Market Value

$228,450

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Greenwood, Morgan County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46143	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Greenwood, Morgan County, Indiana

Property tax bills in Greenwood, located in Morgan County, Indiana, are calculated based on the assessed value of a property. This assessed value is determined by local assessors and reflects the estimated market value of a home. In Greenwood, the median home price is $92,700, which plays a crucial role in determining the property tax bill. The tax rate is applied to this assessed value to calculate the tax bill. For many homeowners in Greenwood, the property tax bill typically ranges around $1,120, which is below the national median tax bill of $2,400. This lower tax bill can be attributed to the relatively modest property values in the area.

Factors such as changes in property value and local government budgets can influence the tax bill amount. Ownwell can assist homeowners by evaluating their property assessments to ensure accuracy and by identifying potential exemptions or inaccuracies that could lead to savings. By appealing incorrect assessments, Ownwell helps homeowners in Greenwood potentially reduce their property tax bills, providing financial relief and peace of mind.

Property Tax Bills Across Greenwood, Morgan County, Indiana

Source: Ownwell

$651

$1,180

$1,709

Median Greenwood Tax Bill

$1,120

Median Morgan County Tax Bill

$1,323

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Greenwood, Morgan County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46143	N/A	N/A	N/A	N/A	N/A

Source: Ownwell