Additional Information on Property Taxes

Figure 1 looks at a sample bill out of Lake County and highlights key terms necessary to understanding property taxes.

Figure 1: Lake County Sample Bill

In this hypothetical example for an owner-occupied home in Hamilton County, the statutory tax of $205.04 per $100 in value is effectively a tax of $88.14 per $100 in value once deductions and credits are calculated (see Table 1).

Table 1: Calculating Tax Market-Based Assessed Value

Table 1

Rachel Justis, Managing Editor
Indiana Business Research Center, Kelley School of Business, Indiana University

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Property Tax Rates Across the State