Bloomington, Monroe County, Indiana Property Taxes
Property Taxes in Bloomington, Indiana
Median Bloomington, Indiana effective property tax rate: 0.99%, significantly lower than the national median of 1.02%, and lower than the Indiana state median of 1.01%.
Median Bloomington, Indiana home value: $260,500
Median annual Bloomington, Indiana tax bill: $2,796, $396 higher than the national median property tax bill of $2,400.
How are property taxes in Monroe calculated?
Property taxes in Bloomington, 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 Bloomington's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bloomington, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Bloomington, Monroe County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$2,579
$2,393
How Does the Bloomington Property Tax Calculator Work?
Use this Bloomington property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Bloomington's median effective tax rate of 0.99% — based on actual property records in Monroe County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Bloomington'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 Bloomington: rates range from $2,078 in 47403 to $3,550 in 47401, 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 Bloomington.
About Bloomington Property Taxes
About Property Taxes in Bloomington, Monroe, Indiana
Bloomington’s median effective property tax rate of 0.99% is lower than the Indiana state median of 1.01% and lower than the national median of 1.02%. This rate reflects the Monroe County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Bloomington. Homeowners in the 47401 ZIP code carry a median effective rate of 1.09%, while those in 47403 pay 0.79%. This spread — 0.30 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Monroe County. Understanding which part of Bloomington you live in can make a meaningful difference to your annual tax bill.
Bloomington homeowners who believe their assessed value is too high can file a formal appeal with the local 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 Bloomington, Monroe 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 Bloomington'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 Bloomington Tax Rate
0.99%
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 Monroe County Tax Rate
0.97%
Median Effective Indiana Tax Rate
1.01%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bloomington, Monroe County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47401 | 0.71% | 0.84% | 1.09% | 1.47% | 2.05% |
| 47403 | 0.65% | 0.73% | 0.79% | 1.08% | 1.54% |
| 47404 | 0.71% | 0.80% | 0.90% | 1.44% | 2.05% |
| 47408 | 0.70% | 0.79% | 1.06% | 2.05% | 2.05% |
| 47402 | N/A | N/A | N/A | N/A | N/A |
| 47405 | N/A | N/A | N/A | N/A | N/A |
| 47406 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Bloomington, Monroe County, Indiana
When examining property taxes in Bloomington, 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 tax authority 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 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 Bloomington.
For example, the median home price in Bloomington is $260,500, with tax bills ranging significantly across the county. 47401 has the highest median home price at $310,000.
Property Tax Assessment Values Across Bloomington, Monroe County, Indiana
Source: Ownwell
$84,650
$246,875
$409,100
Median Bloomington Market Value
$260,500
Median Monroe County Market Value
$254,200
Median Indiana Market Value
$186,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bloomington, Monroe County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47401 | $136,600 | $200,400 | $310,000 | $442,900 | $596,600 |
| 47403 | $129,700 | $179,000 | $230,500 | $290,525 | $394,460 |
| 47404 | $122,700 | $180,300 | $245,500 | $326,375 | $415,650 |
| 47408 | $130,940 | $185,400 | $279,600 | $370,100 | $527,300 |
| 47402 | N/A | N/A | N/A | N/A | N/A |
| 47405 | N/A | N/A | N/A | N/A | N/A |
| 47406 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Bloomington, Monroe County, Indiana
Property tax bills in Bloomington are based on the assessed value of a home, not its market price alone. Local tax rates are applied to that assessment, and the final bill reflects how the property is valued, the tax rate set by local governments, and any exemptions or credits a homeowner may qualify for. With a median home price of $260,500, property taxes can vary widely from one neighborhood to another.
In Bloomington, the median tax bill is $3,550 in ZIP code 47401 and $2,078 in ZIP code 47403. Across the city, the 25th percentile tax bill is $1,746, while the 75th percentile is $4,226 and the 90th percentile reaches $6,129. Compared with the national median property tax rate of 1.02% and the national median property tax bill of $2,400, Bloomington homeowners often face higher-than-average property tax costs, which can significantly affect monthly housing expenses and long-term affordability.
Median Bloomington Tax Bill
$2,796
Median Monroe County Tax Bill
$2,705
Median Indiana Tax Bill
$1,964
Median United States Tax Bill
$2,400
Property Tax Bills Across Bloomington, Monroe County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47401 | $1,249 | $2,119 | $3,550 | $5,245 | $7,191 |
| 47403 | $954 | $1,452 | $2,078 | $3,034 | $4,179 |
| 47404 | $1,030 | $1,744 | $2,525 | $3,421 | $4,758 |
| 47408 | $1,199 | $2,039 | $3,256 | $4,824 | $6,899 |
| 47402 | N/A | N/A | N/A | N/A | N/A |
| 47405 | N/A | N/A | N/A | N/A | N/A |
| 47406 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 15 |
Links | |
|---|---|
| Monroe Tax Assessor | |
| Website | beacon.schneidercorp.com |