Indiana variant. This is a Indiana-specific version of the Property Tax Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Property Tax Calculator.
Indiana's effective property tax rate of 0.84% means the owner of a median $240,000 home pays roughly $2,016 per year - a figure that varies widely by state.
How Indiana property tax is calculated
Property tax = assessed value × local millage rate. The 0.84% effective rate shown here is the statewide average of tax paid relative to market value, which smooths over county-by-county differences.
On the $240,000 Indiana median home, that works out to about $2,016/year or $168/month - often escrowed into your mortgage payment.
About taxes and housing in Indiana
Indiana has a low flat state income tax, and counties may add their own local income taxes on top.
Indiana caps property taxes through a constitutional limit tied to a percentage of a home's value, keeping bills predictable.
Indiana has one of the most manufacturing-intensive economies in the country, with steel, autos, and pharmaceuticals as major sectors.
Worked example: tax on a $240,000 home
$240,000 × 0.84% = $2,016 per year. A $500,000 home in Indiana would owe about $4,200 annually at the same effective rate.
Quick reference
- State income tax: Flat 3.05% (decreasing toward 2.9%)
- State sales tax: 7% (plus 0.00% avg local)
- Median home value: $240,000
- Median household income: $67,173
- Effective property tax rate: 0.84%
- Avg auto insurance: $1,304/yr
Frequently Asked Questions
What is the property tax rate in Indiana?
Indiana's effective property tax rate averages 0.84% of market value per year.
How much property tax on a $240,000 home in Indiana?
About $2,016 per year at the 0.84% effective rate.