Hamilton, Steuben County, Indiana Property Taxes

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

Median Hamilton, IN effective property tax rate: 0.68%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Hamilton, IN home value: $211,050
Median annual Hamilton, IN tax bill: $1,396, $1,004 lower than the national median property tax bill of $2,400.

How are property taxes in Steuben calculated?

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

Last Updated March 1, 2025

Hamilton, Steuben County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.68%

Estimate Property Tax Bill

$1,435

$1,332

Ownwell’s Hamilton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hamilton with just two data points. By entering your property's estimated assessed value, our calculator applies Hamilton’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 18151. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hamilton, Steuben County, Indiana

Local government entities set tax rates, which can vary widely within a state. 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 Hamilton’s effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S.

Property Tax Rates Across Hamilton, Steuben County, Indiana

Source: Ownwell

0.49%

0.72%

0.95%

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 Hamilton Tax Rate

0.68%

Median Effective Steuben County Tax Rate

0.76%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hamilton, Steuben County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46742	0.34%	0.48%	0.68%	1.04%	1.21%

Source: Ownwell

Property Tax Assessment Values Across Hamilton, Steuben County, Indiana

When examining property taxes in Hamilton, 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 Steuben 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 Steuben 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 Hamilton.

For example, the median home price in Hamilton is $211,050, with tax bills ranging significantly across the county. ZIP code 46742 has the highest median home price at $211,050.

Property Tax Assessment Values Across Hamilton, Steuben County, Indiana

Source: Ownwell

$22,700

$116,875

$211,050

Median Hamilton Market Value

$211,050

Median Steuben County Market Value

$162,600

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hamilton, Steuben County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46742	$44,830	$112,900	$211,050	$376,125	$594,320

Source: Ownwell

Property Tax Bills Across Hamilton, Steuben County, Indiana

In Hamilton, Indiana, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and market conditions can influence the assessed value. In Hamilton, the median home price stands at $211,050, with tax bills ranging from $641 at the 25th percentile to $4,801 at the 90th percentile. Compared to the national median property tax rate of 1.02% and a median tax bill of $2,400, Hamilton's property tax landscape presents unique challenges and opportunities for homeowners. Ownwell offers valuable services to help homeowners navigate these complexities. By providing expert property tax appeal and exemption services, Ownwell can assist homeowners in potentially lowering their assessed values, thus reducing their tax bills. This service can be particularly beneficial for those with tax bills nearing the higher percentiles, ensuring fair and equitable taxation.

Property Tax Bills Across Hamilton, Steuben County, Indiana

Source: Ownwell

$181

$789

$1,396

Median Hamilton Tax Bill

$1,396

Median Steuben County Tax Bill

$967

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Hamilton, Steuben County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46742	$320	$641	$1,396	$3,058	$4,801

Source: Ownwell