Mexico, Miami County, Indiana Property Taxes
Median Mexico, IN effective property tax rate: 0.37%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Mexico, IN home value: $103,200
Median annual Mexico, IN tax bill: $373, $2,027 lower than the national median property tax bill of $2,400.
How are property taxes in Miami calculated?
Property taxes in Mexico, 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 Mexico’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mexico, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mexico, Miami County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.37%
Estimate Property Tax Bill
$382
$354
Property Tax Rates Across Mexico, Miami County, Indiana
Local government entities are responsible for setting property tax rates, which can vary significantly within a state. Each year, counties estimate their budget needs to provide essential services and divide this by the total value of all taxable property in their jurisdiction, resulting in the property tax rate. While the process involves votes and laws, this is the fundamental method used annually.
In Mexico, located in Miami County, Indiana, the effective property tax rate is notably lower than both the state and national medians. Indiana's median property tax rate is 0.85%, which is below the national median of 1.02%. However, Mexico's rate is even more favorable, providing residents with a financial advantage compared to other areas.
This lower tax burden can attract homeowners looking for affordability without compromising on essential services. When comparing Mexico's property tax rate to other cities in Indiana and the broader U.S., it becomes evident that residents benefit from a more economical tax environment. This can be a compelling factor for prospective homeowners and investors considering property in the region.
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 Mexico Tax Rate
0.37%
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 Miami County Tax Rate
0.80%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mexico, Miami County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46958 | 0.18% | 0.25% | 0.37% | 0.63% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Mexico, Miami County, Indiana
When examining property taxes in Mexico, 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 Miami 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 Miami 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 Mexico. For example, the median home price in Mexico is $103,200, with tax bills ranging significantly across the county. Zip code 46958 has the highest median home price at $103,200.
Property Tax Assessment Values Across Mexico, Miami County, Indiana
Source: Ownwell
$24,850
$98,475
$172,100
Median Mexico Market Value
$103,200
Median Miami County Market Value
$92,500
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mexico, Miami County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46958 | $34,960 | $76,700 | $103,200 | $130,300 | $150,800 |
Source: Ownwell
Property Tax Bills Across Mexico, Miami County, Indiana
In Mexico, located in Miami County, Indiana, property tax bills are determined based on the assessed value of a home. The assessed value is typically a percentage of the property's market value, which is influenced by factors such as location, property size, and market conditions. Homeowners in Mexico face a median property tax bill of $373, which is significantly lower than the national median of $2,400. However, property tax bills can vary widely, with the 25th percentile at $205 and the 90th percentile reaching up to $1,005.
These taxes can have a substantial impact on homeowners, affecting their annual expenses and overall financial planning. Ownwell offers a solution by providing property tax appeal and exemption services, helping homeowners ensure their property is fairly assessed. By reviewing property assessments and identifying potential inaccuracies, Ownwell can assist in reducing tax liabilities. This service not only offers potential savings but also provides peace of mind, allowing homeowners to focus on other financial priorities.
Median Mexico Tax Bill
$373
Median Miami County Tax Bill
$709
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Mexico, Miami County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46958 | $134 | $205 | $373 | $604 | $1,005 |
Source: Ownwell