Mccordsville, Hancock County, Indiana Property Taxes

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

Median McCordsville, IN effective property tax rate: 0.94%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median McCordsville, IN home value: $302,200
Median annual McCordsville, IN tax bill: $2,839, $439 higher than the national median property tax bill of $2,400.

How are property taxes in Hancock calculated?

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

Last Updated March 1, 2025

Mccordsville, Hancock County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.94%

Estimate Property Tax Bill

$2,841

$2,636

Ownwell’s McCordsville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in McCordsville with just two data points. By entering your property's estimated assessed value, our calculator applies McCordsville’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 Hancock County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mccordsville, Hancock County, Indiana

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare McCordsville’s effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S. McCordsville, located in Hancock County, boasts a property tax rate of 0.94%, which is slightly below the national median of 1.02%. This rate reflects the county's budgetary needs and the total assessed property values. Compared to the national median property tax bill of $2,400, residents in McCordsville might find their property tax responsibilities more manageable. Understanding these differences can offer valuable insights into the local government's fiscal strategies and how they impact homeowners.

Property Tax Rates Across Mccordsville, Hancock County, Indiana

Source: Ownwell

0.45%

0.70%

0.94%

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 Mccordsville Tax Rate

0.94%

Median Effective Hancock County Tax Rate

0.80%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mccordsville, Hancock County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46055	0.60%	0.86%	0.94%	0.99%	1.48%

Source: Ownwell

Property Tax Assessment Values Across Mccordsville, Hancock County, Indiana

When examining property taxes in McCordsville, 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 May. 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 McCordsville. For example, the median home price in McCordsville is $302,200, with tax bills ranging significantly across the county. Zip code 46055 has the highest median home price at $302,200.

Property Tax Assessment Values Across Mccordsville, Hancock County, Indiana

Source: Ownwell

$110,750

$211,525

$312,300

Median Mccordsville Market Value

$302,200

Median Hancock County Market Value

$247,000

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mccordsville, Hancock County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46055	$193,200	$248,750	$302,200	$373,250	$439,400

Source: Ownwell

Property Tax Bills Across Mccordsville, Hancock County, Indiana

In McCordsville, located in Hancock County, Indiana, property tax bills are determined by the assessed value of a home and the local tax rate. The median home price here is $302,200, and the property tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $2,167, while at the 90th percentile, it rises to $4,538. Interestingly, the highest and lowest median tax bills in the area are both $2,839, reflecting the uniformity in the tax rate across the 46055 zip code.

Homeowners in McCordsville face property tax bills that are relatively on par with the national median property tax bill of $2,400. However, the financial impact of these taxes can still be considerable. This is where Ownwell steps in, offering services to appeal and potentially reduce your property tax bill. By analyzing your property's assessed value and comparing it with similar properties, Ownwell can identify discrepancies and help you secure exemptions or reductions, ultimately saving you money and easing the financial burden of property ownership.

Property Tax Bills Across Mccordsville, Hancock County, Indiana

Source: Ownwell

$538

$1,811

$3,084

Median Mccordsville Tax Bill

$2,839

Median Hancock County Tax Bill

$2,024

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Mccordsville, Hancock County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46055	$1,305	$2,167	$2,839	$3,695	$4,538

Source: Ownwell