Why you'll likely pay more in property taxes this year

This April 2, 2019, photo shows a home for sale in downtown Indianapolis. (WTHR Photo/Mary Milz)
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INDIANAPOLIS (WTHR) — If you own a home, you'll soon be getting your property tax bill. Just a head's up: When you open up your bill you may get hit with a bit of "sticker shock."

According to the Marion County Treasurer's Office, 86 percent of homeowners will pay more in property taxes than they did last year. How much more? It depends on several things, including where you live. But bottom line? Deputy Treasurer Joshua Peters said Marion County homeowners are looking at an average increase of roughly eight percent.

"Property values continue to rise as the real estate market continued to do better," Peters said. That makes for a bigger bill for homeowners.

It's still a seller's market. Sell your house and you'll likely get more for it. For those living in the IPS school district, the voter-approved November referendum is also reflected in the new tax bill.

As for which townships saw the biggest jump in AV, or assessed value? Here's the AV increase provided by the Marion County Assessor's Office:

assessed property value increases
Average percentage increases in assessed property values in Marion County's nine townships from 2018 to 2019, according to the Marion County Assessor's Office (WTHR graphic)
Marion County Property Tax Increases
  • Center Township - 10.01 percent AV Increase
  • Center Township - 10.01 percent AV Increase
  • Decatur Township - 6.95 percent AV Increase
  • Franklin Township - 7.01 percent AV Increase
  • Lawrence Township - 3.97 percent AV Increase
  • Perry Township - 4.07 percent AV Increase
  • Pike Township - 4.75 percent AV Increase
  • Warren Township - 4.17 percent AV Increase
  • Washington Township - 3.99 percent AV Increase
  • Wayne Township - 5.01 percent AV Increase

(assessed value data provided by Marion County Assessor's Office)

For homeowners in the IPS-only areas, which include parts of different townships, the increase is 6.82 percent.

Peters said Center Township topped the list because it not only includes the booming downtown housing market but is also in the IPS school district.

So, you may be wondering about the property tax caps. In this case, that won't keep your tax bill down.

"The dollar amount can go up. It just never can go up more than 1 percent if it's an owner-occupied home," Peters said. "(If you live in that home,) you never pay more than 1 percent of the assessed value, but if the assessed value goes up then the overall amount you owe can go up as well."

We reached out to assessors in the donut counties. Those we talked with agreed the housing market is still strong, pushing assessed values up.

Jayson Puckett, the Deputy Auditor for Hendricks County, said residential properties there increased 7.59 percent from what residents paid in 2018 to what they will pay in 2019.

Dan Spiker with the Boone County Assessor's Office said while he didn't have any exact figures yet, the market overall is trending up, which would be reflected in tax bills.

In Indiana, taxes for the first half of 2019 are due May 10.