Question

What is the allocated dollar amount deduction for senior citizens, veterans, and disabled people when the assessed value does not apply?

Answer 1

As per Indiana Property Tax relief-  allocated dollar amount deduction for senior citizens, veterans, and disabled people when the assessed value does not apply is $12,480.

Property taxes in Indiana are relatively low. The average annual property tax paid in Indiana is $1,263, which is less than half of the national average of $2,578. The statewide average effective property tax rate is 0.81%, compared to 1.07% nationally.

Property taxes vary depending on where you live and the value of your home, but the statewide average effective property tax rate is 0.81%. However, homeowners in Indiana who live in their primary residence are eligible for a number of deductions that can lower rates below the national average. Local tax authorities in Indiana, such as schools, counties, townships, and libraries, recalculate tax rates each year. The rates are determined by the total amount of revenue that the tax authority is permitted to collect (the levy) and the total tax base (the total value of net assessed value in the district).

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