A Favorable Tax Environment Favors Growth in Wabash County!
An incredible advantage of working and living in Wabash County is the inherent tax environment present in both the county and the state. A fabulous starting point is a 3.23% state income tax, third-lowest in the country among states that have an income tax. Other notable statistics, according to the Tax Foundation, include:
- Indiana’s state and local tax burden of 9.5% ranks the state as the 22nd lowest in the country!
- Indiana’s top corporate income tax rate of 5.5%, placing in the top ten of state business tax climate index.
- Indiana has the 2nd lowest property tax rate in the country!
Wabash County’s favorable tax standing is present across a number of categories, including:
Property tax is levied on both real and personal property with Wabash County residents paying $0.4117 per $100 of assessed value. The total tax rates for cities within Wabash County range from $1.3212 - $4.3787 $ per $100 of assessed value. Residents in Wabash County pay a total sales tax of 7%.
The latest state tax rates and information for Wabash County businesses can be found at the Indiana Department of Revenue, which has also created INtax, a free online tool to manage business tax obligations in Indiana.