North Salem, Hendricks County, Indiana Property Taxes
Median North Salem, IN effective property tax rate: 0.99%, slightly lower than the national median of 1.02%, but aligns with the Indiana state median of 0.99%.
Median North Salem, IN home value: $215,900
Median annual North Salem, IN tax bill: $2,116, $284 lower than the national median property tax bill of $2,400.
How are property taxes in Hendricks calculated?
Property taxes in North Salem, 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 North Salem’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in North Salem, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
North Salem, Hendricks County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$2,137
$1,983
Property Tax Rates Across North Salem, Hendricks County, Indiana
Local government entities are responsible for setting property tax rates, which can vary significantly within Indiana. Each county, including Hendricks, estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In North Salem, located in Hendricks County, the effective property tax rate is a reflection of this annual budgetary calculation. The median property tax rate in Indiana stands at 0.99%, which is slightly below the national median of 1.02%. This places Indiana in a favorable position compared to the national average, offering residents a relatively lower tax burden.
By comparing North Salem's effective property tax rate to other cities in Indiana and the national median, property owners can better understand their tax obligations and how they fit into the broader context. This understanding can be crucial for homeowners looking to manage their finances and plan for the future.
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 North Salem Tax Rate
0.99%
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 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 North Salem, Hendricks County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46165 | 0.69% | 0.85% | 0.99% | 1.24% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across North Salem, Hendricks County, Indiana
When examining property taxes in North Salem, 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 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 Hendricks 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 North Salem. For example, the median home price in North Salem is $215,900, with tax bills ranging significantly across the county. ZIP code 46165 has the highest median home price at $215,900.
Property Tax Assessment Values Across North Salem, Hendricks County, Indiana
Source: Ownwell
$118,250
$293,525
$468,800
Median North Salem Market Value
$215,900
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 North Salem, Hendricks County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46165 | $79,500 | $136,300 | $215,900 | $326,300 | $477,300 |
Source: Ownwell
Property Tax Bills Across North Salem, Hendricks County, Indiana
Median North Salem Tax Bill
$2,116
Median Hendricks County Tax Bill
$2,647
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across North Salem, Hendricks County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46165 | $684 | $1,319 | $2,116 | $3,823 | $5,562 |
Source: Ownwell