Property Tax in Hancock County, Indiana

How the bill is built

Indiana calculates property tax in a very different way from most states. Start with your home's gross assessed value (AV), subtract the $48,000 Homestead Standard Deduction, then subtract 40% of what's left as the Supplemental Homestead Deduction. What remains is your net AV, and that is multiplied by your tax district's combined rate (per $100 AV). The result is then capped at 1% of your gross AV under Indiana's circuit breaker — meaning most homesteads in high-rate districts effectively pay 1% flat.

Important for 2026: Under Senate Enrolled Act 1 (2025), every homestead also receives a new Supplemental Homestead Credit equal to 10% of your tax liability, up to $300 per year. This is applied automatically — no form required — starting with bills due in 2026.

Hancock County rate breakdown (per $100 AV, Greenfield district)

Taxing entity	Rate
City of Greenfield combined rate (per $100 AV)	2.5141
Combined total	2.5141

Data record updated April 25, 2026. This is an editorial update date, not a tax year or a guarantee that every figure has been independently verified.

Sources and scope: Check rates and parcel details with Hancock County Assessor. Figures may refer to different source years; a county-seat rate does not apply to every address. How we use data and estimates.

Note: Hancock County, immediately east of Indianapolis along I-70, has been one of the fastest-growing Indianapolis suburban counties — population grew 13.5% between 2010 and 2020. McCordsville and Fortville (both within commuter distance of Hamilton County) have led the growth, with McCordsville growing from 5,200 in 2010 to 8,300 in 2020.

Note: Despite suburban growth, Hancock County maintains a relatively low effective rate (0.66%) due to a strong agricultural and commercial-industrial tax base around the I-70 / SR-9 interchange. Greenfield, the county seat, has long been an Indianapolis-area exurb.

Note: The county's economic anchor is the Eli Lilly & Company manufacturing campus in Greenfield, one of the largest pharmaceutical manufacturing sites in the world. Lilly's Greenfield site produces insulin and other injectable medications and is the county's largest single employer with approximately 4,000 jobs.

Deductions and credits for 2026

Homestead Standard + Supplemental Deductions

Indiana's two-part homestead deduction is the single most valuable tax reduction available to homeowners. For 2026, the Standard Deduction is $48,000 off your gross AV, and the Supplemental Deduction is 40% of what remains after the Standard is applied. Together these typically shield about 65% of a typical home's AV from taxation before any rate is even applied.

File Form HC10 (Homestead Property Tax Deduction) with the Hancock County Assessor by December 31 of the year preceding the tax year. Many closings handle this automatically — verify on your next tax bill that "Homestead Standard Deduction" appears as a line item.

Phase-in schedule: Under SEA 1, the Standard Deduction drops to $40,000 in 2027 and phases out entirely by 2030, while the Supplemental percentage rises from 40% (2026) to 66.7% by 2031. The net effect is roughly revenue-neutral for most homeowners — just a different calculation path.

The 1% Circuit Breaker Cap

Indiana's constitution caps homestead property tax at 1% of gross assessed value. If your calculated tax would exceed that amount (which is common in high-rate districts like Hammond, Gary, and South Bend), the bill is reduced to the cap. Non-homestead residential property is capped at 2%, and commercial at 3%.

Supplemental Homestead Credit (new in 2026)

Under SEA 1, qualifying homesteads receive a credit equal to the lesser of 10% of your tax liability or $300. This is applied automatically to your bill — no application needed.

Over 65 Credit

Replacing the old Over 65 Deduction, this new credit provides up to $150 directly off your tax bill. Income limit is $60,000 single / $70,000 joint. File Form 43708 with your county auditor by January 15 of the tax year.

100% Disabled Veteran Exemption

Veterans with a 100% service-connected disability qualify for a full exemption on their primary residence. Partial disability deductions vary by rating.

Appealing your assessment

If you believe Greenfield-area assessed values on your property are too high, you can file Form 130 (Taxpayer's Notice to Initiate an Appeal) with your township assessor within 45 days of receiving your Form 11 assessment notice, which typically arrives in the spring. Most appeals are resolved informally with the assessor; unresolved disputes go to the county Property Tax Assessment Board of Appeals (PTABOA).

Cities and towns in Hancock County

This guide lists 7 selected communities in or associated with Hancock County. It is not a complete municipal directory. Local taxing districts can differ between communities and individual addresses.

Data: US Census Bureau, 2020 Decennial Census. Populations rounded. Cities marked as "split" straddle a county border — the portion inside Hancock County is subject to Hancock County's tax rolls, while the portion outside is subject to the adjacent county's.

City or town	Type	Population (2020)
Greenfield County seat	city	23,200
McCordsville	town	8,300
Cumberland Split	town	6,100
Fortville	town	4,400
New Palestine	town	2,400
Shirley	town	760
Wilkinson	town	380

About city-level property tax rates: The rate breakdown and calculator on this page use a representative district around Greenfield. Other cities in Hancock County may pay into different school districts, city rates, and special districts — so their combined rates can differ, sometimes substantially. Always verify the specific rates for your address with the Hancock County Assessor before relying on any estimate.

Frequently asked questions

How does the Indiana 1% circuit breaker cap actually work?

Indiana's constitution caps homestead property tax at 1% of your gross assessed value. If your calculated tax (after deductions) would exceed 1% of gross AV, the excess is automatically "forgiven" — you never pay more than 1%. In Lake, Marion, and St. Joseph counties, a large share of homesteads hit this cap.

Do I have to apply for the Supplemental Homestead Credit?

No. If your property already has the Homestead Standard Deduction on file, the Supplemental Homestead Credit is applied automatically starting with your 2026 bill. Check that it appears on your bill under "Credits."

When does my homestead deduction need to be filed by?

File Form HC10 with your county auditor by December 31 of the assessment year. Many real-estate closings handle this paperwork — verify on your first full-year tax bill that the deduction appears.

About Hancock County

Beyond the property tax — a few things you might not know about the place.

Weird fact

The James Whitcomb Riley Old Home in Greenfield is one of the most-visited literary landmarks in Indiana — the Hoosier Poet (1849-1916) was born and raised in this house, and "When the Frost is on the Punkin," "Little Orphant Annie," and "The Raggedy Man" were all written there. The original Riley furniture and personal effects remain on display.

Hometown hero

James Whitcomb Riley

The "Hoosier Poet" (1849-1916), one of the most popular American poets of the late 19th century, was born and raised in Greenfield and remained closely associated with Hancock County throughout his life. His dialect poems written in rural Indiana vernacular sold millions of copies; "Little Orphant Annie" inspired both the comic strip "Little Orphan Annie" and the Broadway musical and film "Annie." Riley Hospital for Children in Indianapolis is named for him.

Biggest annual event

Riley Festival (Greenfield)

Held annually the first weekend of October since 1911, the Riley Festival commemorates poet James Whitcomb Riley's birthday and draws 75,000+ visitors over four days to a town of just 23,000. Features include poetry readings at Riley's old home, a parade through downtown Greenfield, and one of Indiana's largest small-town craft fairs with 400+ vendors.

Property Tax in Hancock County