Indiana (IN) property tax rate: 0.84% | Median home: $235,000 | Median annual tax: $1,974
Indiana is a highly affordable Midwest state with a growing economy. The average effective property tax rate in Indiana is 0.84%, which is near the national average of 1.1%.
On the median Indiana home valued at $235,000, annual property taxes come to approximately $1,974 or $165/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Indiana caps property tax bills at 1% of assessed value for homesteads.
Combined with Indiana's state income tax rate of 3.15%, homeowners should consider the total tax picture. Property taxes in Indiana are manageable and in line with regional averages.
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Indiana has an average effective property tax rate of 0.84%. On the median home value of $235,000, that equals approximately $1,974 per year or $165 per month.
Property taxes in Indiana are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Indiana caps property tax bills at 1% of assessed value for homesteads.
Indiana property taxes are near the national average of 1.1%. This means property tax costs are predictable and in line with most states.
Property tax due dates vary by county in Indiana. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.