Markleville, Madison County, Indiana Property Taxes
Property Taxes in Markleville, Indiana
Median Markleville, Indiana effective property tax rate: 0.79%, significantly lower than the national median of 1.02%, and lower than the Indiana state median of 1.01%.
Median Markleville, Indiana home value: $131,000
Median annual Markleville, Indiana tax bill: $1,082, $1,318 lower and lower than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in Markleville, 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 Markleville's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Markleville, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Markleville, Madison County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.79%
Estimate Property Tax Bill
$1,035
$960
How Does the Markleville Property Tax Calculator Work?
Use this Markleville property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Markleville's median effective tax rate of 0.79% — based on actual property records in Madison County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Markleville's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Markleville: rates range from 0.79% in 46056 to 0.79% in 46056, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Markleville.
About Markleville Property Taxes
About Property Taxes in Markleville, Madison, Indiana
Markleville’s median effective property tax rate of 0.79% is lower than the Indiana state median of 1.01% and lower than the national median of 1.02%. This rate reflects the Madison County base levy combined with local school district levies and special assessment districts that can vary by subdivision throughout the city.
Property tax rates are not uniform across Markleville. Homeowners in ZIP code 46056 carry a median effective rate of 0.79%, while the lowest rate is also 0.79%. This means the spread across the city is 0 percentage points, showing how local tax structures can still shape what homeowners pay in Madison County.
Markleville homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 15, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Markleville, Madison County, Indiana
As noted earlier, 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 Markleville's effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S.
Our median effective property tax rate (tax bill Ă· 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 Markleville Tax Rate
0.79%
Our median effective property tax rate (tax bill Ă· 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 Madison County Tax Rate
1.07%
Median Effective Indiana Tax Rate
1.01%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Markleville, Madison County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46056 | 0.50% | 0.63% | 0.79% | 1.18% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Markleville, Madison County, Indiana
When examining property taxes in Markleville, 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 Madison County assessor 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.
Assessment notices:
In Madison County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month.
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 understanding how assessed and market values are determined, property owners can better navigate their tax responsibilities and the valuation process affecting property taxes in Markleville.
For example, the median home price in Markleville is $131,000, with tax bills ranging significantly across the county. ZIP code 46056 has the highest median home price at $131,000.
Property Tax Assessment Values Across Markleville, Madison County, Indiana
Source: Ownwell
$46,300
$145,175
$244,050
Median Markleville Market Value
$131,000
Median Madison County Market Value
$102,900
Median Indiana Market Value
$186,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Markleville, Madison County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46056 | $36,160 | $87,000 | $131,000 | $186,000 | $264,740 |
Source: Ownwell
Property Tax Bills Across Markleville, Madison County, Indiana
Property tax bills in Markleville are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. That means the amount a homeowner pays depends on both the value of the home and the tax rates set by local taxing authorities. For a home with a median price of $131,000, the bill can vary widely depending on where the property is located and how it is assessed.
In Madison County, the median property tax bill is $1,082, which is below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%. Homeowners may see bills as low as $561 at the 25th percentile and as high as $1,771 at the 75th percentile, with the 90th percentile reaching $2,717. These differences show how property taxes can affect monthly housing costs and overall affordability for homeowners.
Median Markleville Tax Bill
$1,082
Median Madison County Tax Bill
$1,188
Median Indiana Tax Bill
$1,964
Median United States Tax Bill
$2,400
Property Tax Bills Across Markleville, Madison County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46056 | $255 | $561 | $1,082 | $1,771 | $2,717 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 15 |
Links | |
|---|---|
| Madison Tax Assessor | |
| Website | beacon.schneidercorp.com |