Example of Hendricks County Property Tax Calculation
Hendricks County Property Tax is calculated based on the assessed value of the property. The county assessor determines the assessed value based on the property's market value and any deductions that may apply, such as homestead or mortgage deductions. The assessed value is multiplied by a tax rate determined by the county council to calculate the property tax amount.
For example, let's say a property in Hendricks County has an assessed value of $100,000 and the county council has set the tax rate at 1%. To calculate the property tax amount, you would multiply $100,000 by 0.01, which equals $1,000. So the property owner would owe $1,000 in property taxes for that year.
It's important to note that property taxes go towards funding local government services, such as schools, police and fire departments, and road maintenance. The exact calculation may vary based on the specific property and location within Hendricks County.
If you want appeal your property tax assessment - contact your local tax assessor.
Hendricks County Property Tax Rates
Below is a formatted table listing the current property tax rates in Hendricks County, Indiana. The rates are per $100 of assessed property value.
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Property Tax | $0.6930 |
| County Option Income Tax | $0.3200 |
| County Economic Development Income Tax | $0.2500 |
| County Public Safety Local Income Tax | $0.2500 |
| County Jail Local Income Tax | $0.1000 |
| Avon Property Tax | $0.7950 |
| Brownsburg Property Tax | $0.6290 |
| Danville Property Tax | $0.7560 |
| Pittsboro Property Tax | $0.9300 |
| Plainfield Property Tax | $1.0930 |
It is important for property owners in Hendricks County to understand these tax rates in order to properly budget for their property taxes each year.
Who sets property tax rates in Hendricks County ?
In Hendricks County, Indiana, the property tax rates are set by the county council and the county commissioners. This usually happens in the month of October each year, prior to the tax bills being sent out. The tax rates are based on the assessed value of the property and are used to fund local government services such as schools, police and fire departments, parks and recreation, and other public services. The rates can vary depending on the location, type of property, and any special assessments or levies that may be in place. It is important for property owners to understand the tax rates and how they are calculated in order to properly plan and budget for their tax bills.
Homestead exemptions in Hendricks County ?
In Hendricks County, Indiana, there are several county-specific Homestead exemptions and deductions available to eligible residents. To help make sense of it all, here is a breakdown of the available exemptions and deductions organized into table columns:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Deduction | Primary residence | Up to $45,000 | Applies to the assessed value of the property |
| Over 65 Deduction | Primary residence, at least 65 years old | Up to $12,480 | Applies to the assessed value of the property |
| Disabled Veteran Deduction | Primary residence, honorably discharged veteran with service-related disability | Up to $24,960 | Applies to the assessed value of the property |
| Blind or Disabled Deduction | Primary residence, legally blind or disabled | Up to $12,480 | Applies to the assessed value of the property |
| Surviving Spouse Deduction | Primary residence, surviving spouse of a person who was eligible for the Homestead Deduction | Up to $45,000 | Applies to the assessed value of the property |
| Circuit Breaker Credit | Primary residence, household income less than $30,000 | Varies based on income and property tax liability | Credit applies to the amount of property taxes due after the Homestead Deduction has been applied |
It is important to note that eligibility requirements and application procedures may vary for each exemption and deduction. Interested residents should contact the Hendricks County Auditor's office for more information and to apply for any applicable exemptions or deductions.
When is Hendricks County Property Tax due ?
Hendricks County Property Tax is typically due twice a year, on May 10th and November 10th.
Here are the payment methods available for Hendricks County Property Tax:
| Payment Method | Details |
|---|---|
| Cash | Accepted in person at the Hendricks County Treasurer's office |
| Check | Accepted in person at the Hendricks County Treasurer's office or by mail |
| Money Order | Accepted in person at the Hendricks County Treasurer's office or by mail |
| Credit Card | Accepted online or over the phone with a convenience fee |
It's important to note that if you choose to pay by mail, your payment must be postmarked by the due date to avoid penalties. Additionally, if you have any questions about your property tax bill or payment options, you can contact the Hendricks County Treasurer's office for assistance.
If you have more questions - contact your local tax collector.
How is Hendricks County Property Tax penalty calculated ?
Hendricks County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, they may be subject to penalties and interest charges. Understanding how these penalties are calculated can be helpful when trying to avoid them. Here is an explanation of how Hendricks County calculates property tax penalties:
- Delinquency Date:
The delinquency date for property taxes in Hendricks County is May 10th of each year. This means that if a property owner has not paid their property taxes by this date, they will be subject to penalties and interest charges.
- Penalty Fees:
The penalty fee for late payment of property taxes in Hendricks County is 5% of the unpaid amount. This penalty is assessed immediately following the delinquency date of May 10th.
- Interest Charges:
In addition to the penalty fee, property owners will also be charged interest on the unpaid amount. The interest rate is 10% per year, calculated on a monthly basis. This interest begins accruing on the first day after the delinquency date.
Example Calculation:
Let's say a property owner in Hendricks County has a property tax bill of $10,000 due on May 10th. If they do not pay on time, they would be subject to a 5% penalty fee of $500, which would be added to the unpaid amount for a new total of $10,500. Additionally, they would be charged 10% interest per year, which would be roughly $87 for the first month. If they still have not paid after one month, their new total would be $10,587.
By accurately understanding how penalties and interest charges are calculated, property owners in Hendricks County can avoid penalties and interest on unpaid property taxes.
We recommend contacting the Hendricks County Tax Office or a local tax professional for the most up-to-date and accurate information.