Ellettsville, Monroe County, Indiana Property Taxes
Median Ellettsville, IN effective property tax rate: 0.90%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Ellettsville, IN home value: $207,800
Median annual Ellettsville, IN tax bill: $1,963, $437 lower than the national median property tax bill of $2,400.
How are property taxes in Monroe County calculated?
Property taxes in Ellettsville, 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 Ellettsville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Ellettsville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Ellettsville, Monroe County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.9%
Estimate Property Tax Bill
$1,870
$1,735
Property Tax Rates Across Ellettsville, Monroe County, Indiana
Local government entities are responsible for setting tax rates, which can vary widely within a state. Each year, counties estimate the budget needed to provide services and divide that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
Now, let's consider Ellettsville in Monroe County, Indiana. Here, the effective property tax rate stands at 0.90%, which aligns with the highest and lowest median rates in the state. This rate is notably lower than the national median property tax rate of 1.02%. For homeowners in Ellettsville, this means a more favorable tax environment compared to many other areas in the country.
Comparing Ellettsville's property tax rate to other cities in Indiana and the national average provides valuable insight. While residents benefit from a lower tax rate, it's essential to understand how these rates are determined and the impact they have on local services.
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 Ellettsville Tax Rate
0.90%
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 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 Ellettsville, Monroe County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47429 | 0.61% | 0.78% | 0.90% | 0.98% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Ellettsville, Monroe County, Indiana
When examining property taxes in Ellettsville, 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 Assessor 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 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 Ellettsville. For example, the median home price in Ellettsville is $207,800, with tax bills ranging significantly across the county. Zip code 47429 has the highest median home price at $207,800.
Property Tax Assessment Values Across Ellettsville, Monroe County, Indiana
Source: Ownwell
$83,500
$212,850
$342,200
Median Ellettsville Market Value
$207,800
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 Ellettsville, Monroe County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47429 | $132,970 | $175,200 | $207,800 | $278,550 | $374,960 |
Source: Ownwell
Property Tax Bills Across Ellettsville, Monroe County, Indiana
Median Ellettsville Tax Bill
$1,963
Median Monroe County Tax Bill
$2,375
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Ellettsville, Monroe County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47429 | $984 | $1,442 | $1,963 | $2,774 | $3,740 |
Source: Ownwell