Does Indiana have a personal property tax?

Does Indiana have personal property tax on vehicles?

Licensed motor vehicles, trailers, motorized boats, most airplanes, campers, recreational vehicles and other registered vehicles that are subject to excise tax collected at the time of licensure by the Indiana Bureau of Motor Vehicles are not subject to personal property tax.

How much is Indiana personal property tax?

The median annual property tax paid in Indiana is $1,263, which is about half that U.S. average of $2,578. The statewide average effective property tax rate is 0.81%, compared to the national effective rate of 1.07%.

Does Indiana have business personal property tax?

Every business, church, and nonprofit organization must file an Indiana business tangible personal property tax return each year, even if they qualify for an exemption (see the section below). … If a return is not filed within 30 days of the return due date, a penalty of 20% of taxes due will be imposed.

How does property tax work in Indiana?

In order to calculate your tax bill, your net assessed value is multiplied by your local tax rate of $0.7090. (In Indiana, tax rates are calculated on a per $100 basis. This means that, for every $100 your home is worth, you are charged 70.9 cents.) This is your total tax bill for the year.

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What taxes do I pay in Indiana?

Residents of Indiana are taxed at a flat state income rate of 3.23%. That means no matter how much you make, you’re taxed at the same rate. All counties in Indiana impose their own local income tax rates in addition to the state rate that everyone must pay. Indiana counties’ local tax rates range from 0.50% to 2.90%.

Is Indiana a tax friendly state?

Indiana is moderately tax-friendly for retirees. As described below, Social Security is exempt from the 3.23% flat state income tax in Indiana, while other forms of retirement income are not. The state’s average effective property tax rate is 0.81% and the sales tax rate is 7%, both of which are relatively low.

How can I lower my property taxes in Indiana?

Related Items

  1. Change the Mailing Address for Your Property Tax Bill. Have your property tax bill sent to a different address.
  2. Apply for a Homestead Deduction. Reduce the property tax on your home.
  3. Apply for a Mortgage Deduction. Lower your tax on mortgaged property.

How much is the homestead exemption in Indiana?

The standard homestead deduction is either 60% of your property’s assessed value or a maximum of $45,000, whichever is less. The supplemental homestead deduction is based on the assessed value of your property and equals: 35% of the assessed value of a property that is less than $600,000.

Where do I file personal property tax in Indiana?

Mail it to the Marion County Assessor’s Office, PO Box 7015, Indianapolis, IN 46207-7015.

How do I find my Indiana property tax?

The state Treasurer does not manage property tax. Please contact your county Treasurer’s office. Go to and choose your county to view a list of county Web sites.

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Does Indiana have an inventory tax?

Indiana’s personal income tax is 3.4 percent of federal adjusted gross income. Indiana has no gross receipts tax and no inventory tax.