Indiana county treasurers soon will mail property tax bills to owners of homes, rental housing, farmland, and businesses. Most will see big increases in the assessed value of their property. This will mean big increases in tax payments.

The increase is a legacy of the pandemic. Property values rose a lot in 2021. Home prices increased as mortgage interest rates fell and people demanded more space to work at home.  Farmland prices increased because corn and soybean prices spiked, making land ownership more profitable. Construction costs increased due to shortages of building materials.