Bedford, Monroe County, Indiana Property Taxes

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

Median Bedford, IN effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Bedford, IN home value: $239,200
Median annual Bedford, IN tax bill: $1,764, $636 lower than the national median property tax bill of $2,400.

How are property taxes in Monroe calculated?

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

Last Updated March 1, 2025

Bedford, Monroe County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.71%

Estimate Property Tax Bill

$1,698

$1,576

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

Property Tax Rates Across Bedford, Monroe County, Indiana

Local government entities set tax rates, which can vary widely within a state. The reason for this variation is that each county estimates its required budget annually 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.

In Bedford, situated in Lawrence County, Indiana, the effective property tax rate of 0.71% is below the national median of 1.02%. This means that homeowners in Bedford may find themselves paying lower property tax bills compared to many other regions across the United States. In fact, the median property tax bill in Bedford is also lower than the national median of $2400. This can be an attractive factor for potential homeowners considering a move to the area, offering a more affordable option in terms of property taxes. It's worth noting that while the rates are favorable, they reflect the county's budgetary needs and property values, making it essential for residents to stay informed about any changes.

Property Tax Rates Across Bedford, Monroe County, Indiana

Source: Ownwell

0.50%

0.84%

1.18%

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 Bedford Tax Rate

0.71%

Median Effective Monroe County Tax Rate

0.90%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bedford, Monroe County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
47421	0.47%	0.61%	0.71%	0.78%	1.24%

Source: Ownwell

Property Tax Assessment Values Across Bedford, Monroe County, Indiana

When examining property taxes in Bedford, 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 Monroe 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 Monroe 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 Bedford. For example, the median home price in Bedford is $239,200, with tax bills ranging significantly across the county. 47421 has the highest median home price at $239,200.

Property Tax Assessment Values Across Bedford, Monroe County, Indiana

Source: Ownwell

$83,500

$212,850

$342,200

Median Bedford Market Value

$239,200

Median Monroe County Market Value

$243,500

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bedford, Monroe County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
47421	$120,300	$198,400	$239,200	$337,500	$444,240

Source: Ownwell

Property Tax Bills Across Bedford, Monroe County, Indiana

In Bedford, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as home improvements and changes in market conditions can influence the assessed value. In Monroe County, the median property tax bill is $1,764, which is below the national median of $2,400. Homeowners in Bedford might find relief knowing that their property tax rate is relatively moderate compared to the national median rate of 1.02%. However, variations exist within the city, as the 25th percentile tax bill is $1,271, while the 90th percentile reaches $4,248. Ownwell can assist homeowners in Bedford by reviewing their property assessments for inaccuracies and filing appeals on their behalf. By leveraging expertise in local tax regulations, Ownwell aims to reduce property tax bills, ensuring homeowners only pay their fair share.

Property Tax Bills Across Bedford, Monroe County, Indiana

Source: Ownwell

$445

$2,201

$3,957

Median Bedford Tax Bill

$1,764

Median Monroe County Tax Bill

$2,375

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Bedford, Monroe County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
47421	$727	$1,271	$1,764	$2,580	$4,248

Source: Ownwell