Southport, Marion County, Indiana Property Taxes
Median Southport, IN effective property tax rate: 1.30%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Southport, IN home value: $192,200
Median annual Southport, IN tax bill: $2,674, $274 higher than the national median property tax bill of $2,400.
How are property taxes in Marion calculated?
Property taxes in Southport, 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 Southport’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Southport, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Southport, Marion County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.3%
Estimate Property Tax Bill
$2,499
$2,319
Property Tax Rates Across Southport, Marion County, Indiana
Local government entities set tax rates, which can vary widely within a state. 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 Southport’s effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S.
In Southport, located in Marion County, the median property tax rate stands at 1.30%. This rate is notably higher than the national median property tax rate of 1.02%. When considering the national median property tax bill of $2400, Southport’s rate can result in a larger financial obligation for homeowners. This underscores the importance of understanding property tax rates, as they significantly impact annual expenses. Homeowners in areas like Southport should explore property tax appeal and exemption services to potentially reduce their tax burden. By staying informed and taking proactive steps, residents can better manage their property tax expenses.
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 Southport Tax Rate
1.30%
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 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 Southport, Marion County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46227 | 1.23% | 1.24% | 1.30% | 2.42% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across Southport, Marion County, Indiana
When examining property taxes in Southport, 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 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.
Assessment notices: In Marion County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Southport. For example, the median home price in Southport is $192,200, with tax bills ranging significantly across the county. Zip code 46227 has the highest median home price at $192,200.
Property Tax Assessment Values Across Southport, Marion County, Indiana
Source: Ownwell
$72,000
$207,650
$343,300
Median Southport Market Value
$192,200
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 Southport, Marion County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46227 | $109,680 | $169,800 | $192,200 | $223,400 | $271,760 |
Source: Ownwell
Property Tax Bills Across Southport, Marion County, Indiana
Median Southport Tax Bill
$2,674
Median Marion County Tax Bill
$2,364
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Southport, Marion County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46227 | $1,355 | $2,204 | $2,674 | $3,962 | $5,216 |
Source: Ownwell