Markle, Wells County, Indiana Property Taxes

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

Median MARKLE, IN effective property tax rate: 0.57%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median MARKLE, IN home value: $270,600
Median annual MARKLE, IN tax bill: $1,568, $832 lower than the national median property tax bill of $2,400.

How are property taxes in Wells County calculated?

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

Last Updated March 1, 2025

Markle, Wells County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.57%

Estimate Property Tax Bill

$1,542

$1,431

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

Property Tax Rates Across Markle, Wells County, Indiana

Local government entities determine tax rates, which can vary significantly within a state. Each year, counties calculate their necessary budget to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This process results in the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is the simplified annual procedure. In Markle, located in Wells County, Indiana, the effective property tax rate stands at 0.57%, which is notably lower than Indiana's median property tax rate and the national median of 1.02%. This makes Markle an attractive location for property owners seeking lower tax burdens. When comparing Markle's rate to other cities in Indiana, it becomes evident that the area offers a more favorable tax environment, potentially leading to significant savings on property taxes. With the national median property tax bill at $2400, property owners in Markle can enjoy a more affordable tax bill, enhancing the appeal of investing in real estate in this community.

Property Tax Rates Across Markle, Wells County, Indiana

Source: Ownwell

0.37%

0.48%

0.59%

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 Markle Tax Rate

0.57%

Median Effective Wells County Tax Rate

0.56%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Markle, Wells County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46770	0.42%	0.48%	0.57%	0.71%	1.00%

Source: Ownwell

Property Tax Assessment Values Across Markle, Wells County, Indiana

When examining property taxes in Markle, 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 Wells 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 Wells 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 Markle.

For example, the median home price in Markle is $270,600, with tax bills ranging significantly across the county. Zip code 46770 has the highest median home price at $270,600.

Property Tax Assessment Values Across Markle, Wells County, Indiana

Source: Ownwell

$76,900

$173,750

$270,600

Median Markle Market Value

$270,600

Median Wells County Market Value

$188,100

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Markle, Wells County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46770	$140,640	$193,800	$270,600	$360,400	$491,300

Source: Ownwell

Property Tax Bills Across Markle, Wells County, Indiana

In Markle, located in Wells County, Indiana, property tax bills are calculated based on the assessed value of a home. The local government assesses this value, and the property tax rate is applied to determine the tax bill. For homeowners in Markle, the median tax bill is $1,568, which is below the national median of $2,400. Various factors influence the tax bill, including the home's value, local tax rates, and applicable exemptions. Homeowners in Markle experience a range of tax bills, with the 25th percentile at $1,026 and the 90th percentile reaching $3,277. This variation highlights the importance of understanding and managing property assessments and exemptions to minimize tax liabilities.

Ownwell assists homeowners by reviewing their property assessments to ensure accuracy and identifying potential exemptions and appeals opportunities. By leveraging expert knowledge and experience, Ownwell helps homeowners in Markle reduce their property tax bills, ensuring they only pay what is fair. This proactive approach not only saves money but also provides peace of mind regarding property tax obligations.

Property Tax Bills Across Markle, Wells County, Indiana

Source: Ownwell

$314

$941

$1,568

Median Markle Tax Bill

$1,568

Median Wells County Tax Bill

$1,092

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Markle, Wells County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46770	$725	$1,026	$1,568	$2,478	$3,277

Source: Ownwell