Indianapolis, Marion County, Indiana Property Taxes

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

Median Indianapolis, IN effective property tax rate: 1.19%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Indianapolis, IN home value: $186,900
Median annual Indianapolis, IN tax bill: $2,361, $39 lower than the national median property tax bill of $2,400.

How are property taxes in Marion County calculated?

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

Last Updated March 1, 2025

Indianapolis, Marion County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.19%

Estimate Property Tax Bill

$2,224

$2,064

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

Property Tax Rates Across Indianapolis, Marion County, Indiana

Local government entities have the authority to set tax rates, leading to significant variations within a state. Each year, counties like Marion calculate their necessary budget to fund services and then divide this by the total value of all taxable property in the area. This process determines the property tax rate. While votes and legislation play a role in setting these rates and budgets, this annual procedure is the essence of how property taxes are established.

In Indianapolis, located in Marion County, the effective property tax rate is a key point of comparison. The city's rate can be contrasted with those of other cities in Indiana, as well as with the state's median and the national median property tax rates. Understanding these comparisons provides valuable insights into how Indianapolis measures up both locally and nationally. By examining these rates, property owners can better understand their tax obligations and how they align with broader trends.

Property Tax Rates Across Indianapolis, Marion County, Indiana

Source: Ownwell

0.98%

1.55%

2.13%

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 Indianapolis Tax Rate

1.19%

Median Effective Marion County Tax Rate

1.19%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Indianapolis, Marion County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46201	0.80%	1.13%	1.39%	2.43%	2.55%
46202	0.86%	1.16%	1.24%	1.99%	2.38%
46203	0.78%	1.04%	1.22%	2.37%	2.55%
46204	1.17%	1.22%	1.25%	2.38%	2.43%
46205	0.86%	1.11%	1.25%	2.03%	2.38%
46208	0.76%	1.10%	1.38%	2.24%	2.43%
46214	1.11%	1.14%	1.17%	1.23%	2.28%
46216	0.99%	1.04%	1.05%	1.07%	1.09%
46217	1.14%	1.19%	1.22%	1.26%	2.35%
46218	0.64%	0.85%	2.13%	2.45%	2.60%
46219	0.75%	1.00%	1.15%	1.83%	2.29%
46220	1.03%	1.14%	1.27%	1.44%	2.32%
46221	0.80%	1.04%	1.11%	2.06%	2.50%
46222	0.72%	0.93%	2.10%	2.39%	2.51%
46224	0.97%	1.15%	1.20%	2.26%	2.41%
46225	0.78%	1.01%	1.22%	2.37%	2.48%
46226	0.66%	0.87%	1.17%	2.09%	2.29%
46227	0.97%	1.18%	1.22%	1.32%	2.41%
46228	0.83%	0.91%	1.11%	1.36%	1.95%
46229	0.85%	0.97%	1.10%	1.61%	2.19%
46231	1.08%	1.15%	1.20%	1.51%	2.29%
46234	0.98%	1.13%	1.18%	1.26%	2.27%
46235	0.79%	0.97%	1.04%	1.94%	2.19%
46236	0.98%	1.03%	1.06%	1.12%	2.00%
46237	0.98%	1.04%	1.07%	1.24%	2.05%
46239	0.96%	1.00%	1.05%	1.16%	2.01%
46240	1.12%	1.24%	1.38%	1.55%	2.39%
46241	1.03%	1.16%	1.39%	2.38%	2.63%
46250	0.97%	1.04%	1.24%	1.41%	1.66%
46254	0.82%	0.90%	0.98%	1.58%	2.03%
46256	0.96%	1.00%	1.03%	1.09%	1.23%
46259	0.98%	1.02%	1.05%	1.12%	1.49%
46260	0.96%	1.19%	1.34%	1.48%	2.42%
46268	0.79%	0.89%	0.99%	1.13%	1.98%
46278	0.90%	0.97%	1.03%	1.08%	1.63%

Source: Ownwell

Property Tax Assessment Values Across Indianapolis, Marion County, Indiana

When examining property taxes in Indianapolis, 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 Marion 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 Marion 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 Indianapolis. For example, the median home price in Indianapolis is $186,900, with tax bills ranging significantly across the county. Zip code 46278 has the highest median home price at $343,300.

Property Tax Assessment Values Across Indianapolis, Marion County, Indiana

Source: Ownwell

$72,000

$207,650

$343,300

Median Indianapolis Market Value

$186,900

Median Marion County Market Value

$186,900

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Indianapolis, Marion County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46201	$63,100	$82,300	$113,000	$155,800	$227,840
46202	$84,800	$151,400	$294,800	$446,500	$620,160
46203	$60,290	$79,300	$118,400	$179,675	$279,400
46204	$108,200	$219,300	$312,000	$440,300	$690,200
46205	$93,900	$136,025	$202,250	$297,950	$433,080
46208	$57,300	$80,000	$128,000	$227,050	$371,800
46214	$137,300	$161,625	$194,900	$228,975	$266,270
46216	$177,600	$209,425	$240,700	$312,200	$362,490
46217	$157,100	$192,000	$229,200	$278,700	$345,980
46218	$45,200	$56,900	$72,000	$94,850	$120,200
46219	$74,700	$98,500	$142,700	$192,000	$240,260
46220	$175,500	$214,300	$266,800	$367,425	$521,840
46221	$62,800	$97,100	$164,800	$206,000	$242,860
46222	$52,300	$69,300	$90,200	$116,700	$152,870
46224	$97,700	$117,800	$160,200	$203,800	$238,500
46225	$65,780	$83,800	$111,900	$167,050	$288,260
46226	$74,530	$91,700	$114,500	$155,600	$223,270
46227	$101,800	$150,800	$196,600	$235,100	$280,600
46228	$146,800	$185,125	$229,100	$282,600	$358,450
46229	$104,200	$136,300	$171,300	$214,300	$250,000
46231	$144,540	$180,050	$210,500	$248,800	$289,940
46234	$135,630	$167,200	$205,200	$256,075	$334,510
46235	$93,340	$122,000	$178,600	$222,400	$265,860
46236	$179,100	$220,400	$278,000	$395,200	$558,700
46237	$138,940	$173,550	$216,100	$271,300	$342,100
46239	$163,800	$198,600	$246,700	$306,900	$368,720
46240	$137,870	$209,300	$281,250	$391,575	$609,840
46241	$60,900	$83,800	$111,400	$155,800	$197,200
46250	$178,030	$225,450	$274,100	$358,625	$468,900
46254	$105,600	$144,400	$181,800	$218,600	$266,900
46256	$195,000	$243,400	$291,600	$379,525	$497,570
46259	$179,130	$216,950	$293,900	$388,475	$493,350
46260	$116,280	$188,300	$247,200	$351,800	$516,220
46268	$116,100	$161,375	$219,600	$258,725	$295,300
46278	$162,200	$222,700	$343,300	$489,300	$644,000

Source: Ownwell

Property Tax Bills Across Indianapolis, Marion County, Indiana

In Indianapolis, located in Marion County, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Indianapolis is $186,900, with tax bills ranging significantly across the city. For instance, the 25th percentile tax bill is $1,622, while the 75th percentile reaches $3,379, and the 90th percentile goes up to $4,817. Homeowners in the zip code 46204 face the highest median tax bill of $4,376, whereas those in 46218 have the lowest at $1,225. Compared to the national median property tax rate of 1.02% and a median tax bill of $2,400, Indianapolis homeowners can experience a wide range of tax burdens. Ownwell assists by identifying potential savings on property taxes, ensuring homeowners do not overpay by appealing assessments and securing applicable exemptions, ultimately reducing their tax liabilities.

Property Tax Bills Across Indianapolis, Marion County, Indiana

Source: Ownwell

$1,225

$2,801

$4,376

Median Indianapolis Tax Bill

$2,361

Median Marion County Tax Bill

$2,364

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Indianapolis, Marion County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46201	$635	$1,260	$1,926	$2,727	$3,712
46202	$996	$2,187	$3,965	$6,230	$9,040
46203	$570	$1,122	$1,826	$2,681	$4,098
46204	$2,378	$3,058	$4,376	$6,849	$10,535
46205	$1,037	$1,933	$2,870	$4,301	$5,986
46208	$534	$1,256	$2,073	$3,503	$5,250
46214	$1,621	$1,952	$2,401	$3,040	$4,087
46216	$1,832	$2,208	$2,592	$3,504	$4,668
46217	$1,861	$2,392	$2,944	$3,846	$4,996
46218	$363	$591	$1,225	$1,706	$2,240
46219	$650	$1,244	$1,860	$2,459	$3,289
46220	$2,248	$2,826	$3,698	$5,110	$7,030
46221	$676	$1,358	$1,981	$2,551	$3,693
46222	$480	$824	$1,516	$2,121	$2,695
46224	$1,086	$1,520	$2,279	$2,823	$3,694
46225	$578	$1,071	$1,867	$2,830	$4,249
46226	$576	$968	$1,690	$2,343	$3,093
46227	$1,186	$1,986	$2,553	$3,184	$4,190
46228	$1,495	$1,949	$2,590	$3,552	$4,980
46229	$1,076	$1,554	$2,014	$2,646	$3,504
46231	$1,782	$2,192	$2,715	$3,786	$4,727
46234	$1,679	$2,100	$2,597	$3,384	$4,694
46235	$847	$1,590	$2,168	$2,779	$3,743
46236	$1,958	$2,428	$3,228	$4,557	$6,209
46237	$1,548	$1,992	$2,513	$3,399	$4,464
46239	$1,818	$2,210	$2,808	$3,581	$4,365
46240	$1,881	$2,842	$4,082	$6,033	$9,379
46241	$716	$1,270	$1,790	$2,412	$3,099
46250	$1,870	$2,463	$3,499	$5,051	$6,937
46254	$978	$1,509	$1,918	$2,581	$3,583
46256	$2,057	$2,516	$3,172	$4,262	$5,575
46259	$1,894	$2,394	$3,265	$4,285	$5,448
46260	$1,667	$2,402	$3,472	$5,025	$7,472
46268	$1,279	$1,681	$2,206	$2,826	$3,707
46278	$1,820	$2,431	$3,710	$5,114	$6,824

Source: Ownwell