A county staff member presented a continuing-education summary to the Vigo County Budget Committee on Oct. 9 titled “50 years of Indiana property tax policy,” reviewing comparative statistics and the way farmland is assessed.

The presenter said the statistics quoted came from studies covering roughly 2020–2023. The presentation listed median property tax paid by a homeowner with a mortgage as $1,550 in Indiana, $5,300 in Illinois, $1,600 in Kentucky, $2,900 in Michigan and $2,800 in Ohio; the U.S. median was shown as $3,200. The presenter said Indiana ranked lowest among the listed neighboring states on median tax paid and on tax as a percent of home value.

On farmland, the presenter explained that Indiana uses a six‑year rolling average (based on yield and price data provided to counties by Purdue and the Department of Local Government Finance) to determine agricultural land value for assessment. The presenter said recent farm-land values rose through 2022–2024, peaking around $10,000 per acre in some areas, and that the six‑year averaging method means those higher values will influence assessments for several years and not fall immediately.

Why it matters: The presenter said the data are useful background for residents who compare local tax burdens with other states and for property owners concerned about farmland valuation trends.

No committee action resulted from the presentation; staff said the slides and handouts could be made available to committee members.