As a homeowner, you'll always have to deal with property taxes. But your tax rate can be difficult to calculate because of the wide range of prices across the country and the market's volatility.

To help you understand, home and

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Jerry

is going through everything you need to know about property taxes in your area. Continue reading to learn more about property tax in

Indiana’s

Monroe County.

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Property tax 101

If you haven't paid property taxes before, here's what you should know:

Local governments levy property taxes to pay for public works projects and community engagement programs (such as public parks and law enforcement)

The bulk of property taxes are imposed on real estate like homes, buildings, and land

A tax assessor in your region will establish your property tax rate based on market value and local tax rates.

Property taxes are altered on a regular basis to reflect shifts in the economy and local budgets.

Property taxes are the primary method through which local governments generate revenue from citizens to support their community.

MORE:

How to deduct a car accident from your taxes

What is the property tax rate in Monroe County?

The average tax rate in Monroe County is 0.78% of the assessed dwelling value, which is just below the state average of 0.85%. Based on average housing prices, you can expect to pay $1,142 in property taxes per year.

Here's

a thorough breakdown of Monroe County's current proposed tax rates.

How Monroe County property taxes are determined

Property taxes in Monroe County are established on a property-by-property basis by the

Monroe County Assessor's office

The valuation of your property is determined by the local tax assessor based on its fair market value. If you believe the valuation set by the assessor's office is incorrect, you have the right to contest the amount of property tax you are charged and request a reassessment.

A homestead exemption may also be available for properties that are the taxpayer's primary residence.

The

Monroe County Homestead Exemption

can reduce the value of a home's worth before property taxes are determined—meaning that owner-occupied households pay less in taxes each year.

For more information and to obtain a copy of the Monroe County Homestead Exemption Application, contact the assessor's office.

What do Monroe County property taxes pay for?

Homeowners in Monroe County pay taxes on their homes to support a wide range of services, such as:

Road maintenance

Public transportation

Infrastructure

Public libraries

School districts

Public education

Health services

Municipal government projects

In the event that you don't like how your property taxes are spent, call your local representative or attend council meetings to get your voice heard!

MORE:

Is car insurance tax deductible?

How to pay property taxes in Monroe County

Monroe County property taxes are due in two installments, May 10 and November 10—if either of these days falls on a weekend or holiday, your taxes will be due the next business day. Homestead Tax Deferral applications are due April 1.

Monroe County property taxes can be paid in a number of ways. You can choose to pay online, via mail, in person, through a bank, or over the phone. Those options work as follows:

Online: You can use an e-check, credit card, or debit card to pay your taxes

online

. There are small service fees for each of these payment types, though—$1.50 for e-checks, $3.95 for Visa debit cards, and 2.45% for all other cards.

By mail: Mail any checks to Monroe County Treasurer, PO Box 2028, Bloomington, IN, 47402. Be sure to include the A/B coupon from your bill, or enter your duplicate number in the check’s memo line.

In-person: You can pay your taxes in person at either the Courthouse (using check) or the Treasurer’s Office (using cash, check, or card), both located in Bloomington.

Through your bank: This service is offered for a period of 30 days before the taxes’ due dates at the locations seen

here

. Make sure to have the spring and fall remittance coupons on hand!

By phone: You can pay over the phone, using card or e-check, by calling 1-877-690-3729. Be sure to know the Monroe County Jurisdiction Code—2410—and the duplicate number from your bill.

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