Waveland, Montgomery County, Indiana Property Taxes
Property Taxes in Waveland, Indiana
Median Waveland, Indiana effective property tax rate: 0.60%, significantly lower than the national median of 1.02%, and lower than the Indiana state median of 1.01%.
Median Waveland, Indiana home value: $115,100
Median annual Waveland, Indiana tax bill: $805, lower than the national median property tax bill of $2,400.
How are property taxes in Montgomery County calculated?
Property taxes in Waveland, 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 Waveland's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Waveland, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Waveland, Montgomery County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.6%
Estimate Property Tax Bill
$691
$641
How Does the Waveland Property Tax Calculator Work?
Use this Waveland property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Waveland's median effective tax rate of 0.60% — based on actual property records in Montgomery 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 Waveland'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 Waveland: rates range from 0.60% in 47989 to 0.60% in 47989, 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 Waveland.
About Waveland Property Taxes
About Property Taxes in Waveland, Montgomery, Indiana
Waveland's median effective property tax rate of 0.60% is lower than the Indiana state median of 1.01% and lower than the national median of 1.02%. This rate reflects the Montgomery 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 Waveland. Homeowners in the 47989 ZIP code carry a median effective rate of 0.60%, while those in the same ZIP code pay 0.60%. This spread reflects how school district boundaries and local assessment districts are drawn across Montgomery County. Understanding which part of Waveland you live in can make a meaningful difference to your annual tax bill.
Waveland 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 Waveland, Montgomery 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 Waveland'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 ÷ 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 Waveland Tax Rate
0.60%
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 Montgomery County Tax Rate
0.75%
Median Effective Indiana Tax Rate
1.01%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Waveland, Montgomery County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47989 | 0.39% | 0.45% | 0.60% | 1.06% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Waveland, Montgomery County, Indiana
When examining property taxes in Waveland, 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 Montgomery 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.
Assessment notices:
In Montgomery County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month.
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 Waveland.
For example, the median home price in Waveland is $115,100, with tax bills ranging significantly across the county. 47989 has the highest median home price at $115,100.
Property Tax Assessment Values Across Waveland, Montgomery County, Indiana
Source: Ownwell
$40,500
$167,150
$293,800
Median Waveland Market Value
$115,100
Median Montgomery County Market Value
$161,400
Median Indiana Market Value
$186,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Waveland, Montgomery County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47989 | $47,660 | $69,700 | $115,100 | $188,950 | $317,870 |
Source: Ownwell
Property Tax Bills Across Waveland, Montgomery County, Indiana
Property tax bills in Waveland are calculated from a home’s assessed value, which is based on the market value of the property, and the local tax rate set by the taxing authorities. For homeowners, that means the bill can change when property values rise or when tax rates are adjusted. A home with a median home price of $115,100 in the area may face a very different tax bill depending on exemptions, neighborhood differences, and how the property is assessed.
In this part of Montgomery County, the 25th percentile tax bill is $325, while the 75th percentile tax bill is $1,623 and the 90th percentile tax bill is $2,714. The median tax bill is $805, which is below the national median property tax bill of $2,400 and well under the national median property tax rate of 1.02%. For homeowners, property taxes are a recurring cost that can affect monthly budgets, escrow payments, and overall housing affordability.
Median Waveland Tax Bill
$805
Median Montgomery County Tax Bill
$1,356
Median Indiana Tax Bill
$1,964
Median United States Tax Bill
$2,400
Property Tax Bills Across Waveland, Montgomery County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47989 | $209 | $325 | $805 | $1,623 | $2,714 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 15 |
Links | |
|---|---|
| Montgomery Tax Assessor | |
| Website | beacon.schneidercorp.com |