Indianapolis, IN real estate: buy or sell with a local AXEN agent
Parts of Indianapolis, like Irvington, Fountain Square and Lockerbie Square, are city historic districts. If your home is in one, you must get a Certificate of Appropriateness before you start many outside changes. Landlords inside the city must also register their rentals with the city.
What are the popular neighborhoods in Indianapolis?
Popular Indianapolis neighborhoods include Broad Ripple, Fountain Square, Irvington, Meridian-Kessler, Mass Ave and Lockerbie Square. Each one prices differently, so ask your agent for recent sales in the ones you like.
Also near Indianapolis:
What should you know before buying a home in Indianapolis?
File your homestead deduction by January 15 to see it on that year's tax bill. If the home is in a historic district, get a Certificate of Appropriateness before you start work. If you plan to rent it out, register it with the city, and get a yearly permit for short-term stays.
The rules that apply everywhere in Indiana are on the Indiana page. These are the Indianapolis details that trip people up.
Get pre-approved →- Check for a historic district first. The Indianapolis Historic Preservation Commission reviews outside work, new building and tear-downs in its districts. Irvington, Fountain Square, Lockerbie Square and Herron-Morton Place are some of them. Apply for a Certificate of Appropriateness before you start any work.
- File the homestead deduction by January 15. If the home is your main home, the house and up to one acre can get the standard and supplemental homestead deductions. You must apply. Applications done by January 15 show up on that year's tax bill.
- Re-file when the title changes. Adding or removing an owner, or moving the home into a trust, means you must file for the homestead deduction again. You can only get the same deduction on one home.
- Rentals must be registered. Owners of rental homes inside the City of Indianapolis must register them with the city. Homes in the excluded cities are exempt. Check which city the home is in before you plan to rent it.
- Short stays need a yearly permit. Since January 1, 2025, each short-term rental unit needs its own yearly permit. The first permit has a one-time $150 fee, and renewals are free. The unit must be a legally built home that meets building code.
What should you do before selling a home in Indianapolis?
Give the buyer the Indiana Seller's Residential Real Estate Sales Disclosure before you accept an offer. When you move out, tell the Marion County Auditor's Office to take off your homestead deduction. The buyer must file their own.
Give the disclosure before you accept an offer.
Indiana law makes most sellers of 1 to 4 unit homes fill out State Form 46234. You must sign it and give it to the buyer before an offer is accepted. It is not a warranty.
Take off your homestead deduction.
Tell the Marion County Auditor's Office when you no longer live in the home so it can remove your deductions. The buyer must apply for their own homestead deduction.
Some sales do not need the form.
The state form lists sales that skip the disclosure. These include estate sales by a court, foreclosure sales, sales between co-owners and transfers to a living trust.
Indianapolis real estate questions
When do I file the homestead deduction in Indianapolis?
File by January 15. The county says an application done by January 15 shows up on the tax bill sent that spring. Apply through the Marion County Auditor's Office.
How do I appeal my assessed value?
File with the Marion County Assessor by June 15 if your notice came before May 1. First you meet with assessor staff. If you do not agree, a hearing officer hears your case and the county appeals board decides.
Do I have to pay the full tax bill while I appeal?
No. Once you file an appeal, state rules let you pay based on last year's value until your appeal is done. If you do not pay that amount on time, late penalties still apply.
Can I Airbnb my Indianapolis home?
Only with a short-term rental permit. You need a permit for each unit, every year. The rules are in Chapter 852 of the city code.
What if I disagree with the county appeals board?
You can appeal to the Indiana Board of Tax Review. You must file within 45 days of getting the county board's decision.
Buying or selling in Indianapolis? Talk to a local agent.
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