Charlottesville, Hancock County, Indiana Property Taxes
Median Charlottesville, Indiana effective property tax rate: 0.53%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Charlottesville, Indiana home value: $166,900
Median annual Charlottesville, Indiana tax bill: $927, $1,473 lower than the national median property tax bill of $2,400.
How are property taxes in Hancock County calculated?
Property taxes in Charlottesville, Indiana 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 Charlottesville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Charlottesville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Charlottesville, Hancock County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.63%
Estimate Property Tax Bill
$1,179
$1,094
Property Tax Rates Across Charlottesville, Hancock County, Indiana
Local government entities determine property tax rates, leading to significant variations within a state. This occurs because each county annually calculates its budget needs for public services and divides this amount by the total value of all taxable properties in its area. This process establishes the property tax rate. While voting and legal frameworks play a role in setting these rates and budgets, this is essentially how the system functions each year.
In Charlottesville, located in Hancock County, Indiana, the effective property tax rate is 0.53%. This rate is notably lower than the national median property tax rate of 1.02%. When comparing Charlottesville's rate to other cities in Indiana, it remains consistent as both the highest and lowest median tax rates in the county are also 0.53%. Despite the low rate, property owners in Charlottesville benefit from the services funded by these taxes, such as public education, infrastructure maintenance, and emergency services, while enjoying a tax burden that is significantly below the national average.
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 Charlottesville Tax Rate
0.63%
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 Hancock County Tax Rate
0.95%
Median Effective Indiana Tax Rate
1.01%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Charlottesville, Hancock County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46117 | 0.41% | 0.51% | 0.63% | 0.74% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Charlottesville, Hancock County, Indiana
When examining property taxes in Charlottesville, 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 Hancock 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.
In Hancock 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 Charlottesville.
For example, the median home price in Charlottesville is $166,900, with tax bills ranging significantly across the county. Zip code 46117 has the highest median home price at $166,900.
Property Tax Assessment Values Across Charlottesville, Hancock County, Indiana
Source: Ownwell
$121,300
$232,700
$344,100
Median Charlottesville Market Value
$187,200
Median Hancock County Market Value
$271,600
Median Indiana Market Value
$186,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Charlottesville, Hancock County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46117 | $74,000 | $111,950 | $187,200 | $312,250 | $459,900 |
Source: Ownwell
Property Tax Bills Across Charlottesville, Hancock County, Indiana
Median Charlottesville Tax Bill
$1,265
Median Hancock County Tax Bill
$2,689
Median Indiana Tax Bill
$1,964
Median United States Tax Bill
$2,400
Property Tax Bills Across Charlottesville, Hancock County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46117 | $356 | $602 | $1,265 | $2,122 | $3,419 |
Source: Ownwell