Indiana vs Virginia
Indiana vs. Virginia – Property‑Tax Comparison
Intro
Both Indiana and Virginia have an effective property‑tax rate of 0.74 %, according to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates). However, the two states differ considerably in median home values, median household incomes, and the resulting median annual property‑tax payments. The table below presents the key metrics side by side.
Side‑by‑side comparison
| Metric | Indiana | Virginia |
|---|---|---|
| Effective property‑tax rate | 0.74 % | 0.74 % |
| Median home value | $201,600 | $360,700 |
| Median annual property tax | $1,496 | $2,686 |
| Property tax on a $250,000 home | $1,855 | $1,862 |
| Property tax on a $500,000 home | $3,711 | $3,724 |
| Median household income | $70,051 | $90,974 |
| Internal link | Indiana property tax | Virginia property tax |
All figures are drawn from the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates).
Who “wins” on property tax?
- Winner (lower tax rate): Indiana
- Tax‑rate difference: 0.00 % (both states report an effective rate of 0.74 %).
- Annual tax difference on a $250 k home: $7 less in Indiana.
- Annual tax difference on a $500 k home: $13 less in Indiana.
Both states share the same statutory effective rate, so the slight dollar‑amount advantage for Indiana comes from the lower median home values in the state. Consequently, the median homeowner in Indiana pays $1,190 less per year in property tax than the median homeowner in Virginia.
Which audiences benefit most from this comparison?
| Audience | Relevance of the data |
|---|---|
| Current or prospective homeowners | The median home‑value and tax‑payment figures show how much property tax will likely cost in each state relative to typical home prices. |
| Retirees and fixed‑income households | Because property taxes are a recurring expense, the lower median tax bill in Indiana may be more manageable for those on a fixed income. |
| Real‑estate investors | The tax on $250 k and $500 k homes provides a benchmark for evaluating investment‑property costs across the two markets. |
| Policy analysts | Identical effective rates but differing median tax amounts illustrate how valuation levels influence overall tax burdens. |
Summary
Based on the most recent ACS estimates, Indiana and Virginia impose the same effective property‑tax rate of 0.74 %. Indiana’s lower median home values translate into lower median annual tax payments, giving it a modest dollar‑amount advantage for homeowners and other taxpayers. All figures referenced are from U.S. Census Bureau data and are presented without interpretive commentary.
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Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.