Monrovia, Hendricks County, Indiana Property Taxes

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

Median Monrovia, IN effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Monrovia, IN home value: $293,700
Median annual Monrovia, IN tax bill: $2,145, $255 lower than the national median property tax bill of $2,400.

How are property taxes in Hendricks calculated?

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

Last Updated March 1, 2025

Monrovia, Hendricks County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.73%

Estimate Property Tax Bill

$2,144

$1,990

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

Property Tax Rates Across Monrovia, Hendricks County, Indiana

Local government entities set tax rates, which can vary widely within a state. This variation occurs 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. 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. In Monrovia in Hendricks County, the effective property tax rate is a reflection of this process. By comparing Monrovia’s effective property tax rate to other cities in Indiana, you can gain insight into how it stands relative to the state median and the national median. With Indiana’s median property tax rate below the national average, property owners in Monrovia may find themselves benefiting from a lower tax burden compared to other areas. Understanding these differences can be crucial for homeowners looking to manage their expenses efficiently.

Property Tax Rates Across Monrovia, Hendricks County, Indiana

Source: Ownwell

0.68%

0.91%

1.14%

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 Monrovia Tax Rate

0.73%

Median Effective Hendricks County Tax Rate

0.98%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Monrovia, Hendricks County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46157	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Monrovia, Hendricks County, Indiana

When examining property taxes in Monrovia, 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 Hendricks County appraisal district 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 Hendricks 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 Monrovia.

For example, the median home price in Monrovia is $293,700, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Monrovia, Hendricks County, Indiana

Source: Ownwell

$118,250

$293,525

$468,800

Median Monrovia Market Value

$293,700

Median Hendricks County Market Value

$256,800

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Monrovia, Hendricks County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46157	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Monrovia, Hendricks County, Indiana

In Monrovia, located within Hendricks County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in this area is $293,700, and the property tax rate is applied to this assessed value to determine the tax bill. Unlike the national median property tax bill of $2,400, homeowners in Monrovia face a consistent tax bill of $2,145 across various percentiles, indicating a lower tax burden compared to the national average. Factors influencing the tax bill include the assessed property value, local tax rates, and any applicable exemptions. For homeowners, this translates to a significant portion of annual expenses, impacting overall financial planning. Ownwell assists homeowners by reviewing their property assessments and identifying potential savings through appeals and exemptions. By leveraging expert knowledge and experience, Ownwell helps to ensure that homeowners are not overpaying, potentially reducing their property tax bills and easing their financial burden.

Property Tax Bills Across Monrovia, Hendricks County, Indiana

Source: Ownwell

$1,093

$2,773

$4,453

Median Monrovia Tax Bill

$2,145

Median Hendricks County Tax Bill

$2,647

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Monrovia, Hendricks County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46157	N/A	N/A	N/A	N/A	N/A

Source: Ownwell