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Property taxes in Indiana are administered at the local level. More than 99 percent of the revenue generated by property taxes remains in the community in which they are collected.  In Bloomington and Monroe County, you'll find some of the lowest property taxes in the United States. Locate your business here and reap the benefits of award-winning public services and a business friendly tax structure.

Property Taxes

Real and personal property tax is asessed at market value. Tax rates and exemptions vary among local jurisdictions, but are effectively capped at 3% for business property pursuant to state law.

 
Township Personal/Real Property
Net Rate
Bean Blossom 1.6267%
Stinesville 1.7598%
Benton 1.3141%
Bloomington 1.4872%
Bloomington, Bloomington Twp. 2.0762%
Clear Creek 1.3642%
Indian Creek 1.2535%
Perry 1.3328%
Bloomington, Perry Twp. 2.0754%
Polk 1.4173%
Richland 1.6455%
Bloomington, Richland Twp. 2.4191%
Ellettsville, Richland Twp. 2.4241%
Salt Creek 1.3602%
Van Buren 1.5064%
Bloomington, Van Buren Twp. 2.1105%
Washington 1.1996%
Ellettsville, Bean Blossom Twp. 2.4220%

Individual Income Taxes

City of Bloomington: NA
Monroe County: 1.095 percent
State of Indiana: 3.4 percent

Corporate Adjusted Gross Income Tax

Indiana's Corporate Adjusted Gross Income Tax is calculated at a flat percentage of the company's adjusted gross income attributable to the company's Indiana sales. The applied Corporate Income Tax rate beginning July 1, 2012 is 8.0% and will be reduced to 6.5% by 2015 through 0.5% per year reductions.

Sales and Use Tax

Indiana's Sales and Use Tax is calculated at a rate of 7%. 

Gross Receipts and Inventory Tax

Indiana has no gross receipts tax and no inventory tax.

Establishing a life in Bloomington is as easy as living it. Take a step away from the stress of escalating housing costs and discover a variety of affordable housing options in Bloomington. Whether you're a first-time homebuyer or a seasoned homeowner, Bloomington's strong and active housing market has homes for people of nearly all income levels.

Come home to Bloomington! Visit the following resources for assistance with your move to Bloomington:

Homefinder.org

Homefinder.org — from the Bloomington Board of Realtors is the most complete source for real estate listings for Bloomington, Monroe County, Owen County, and South Central Indiana. The Homefinder MLS is your online guide for buying, selling, investing in real estate, or relocating to Bloomington, Indiana.

To learn more about housing and neighborhoods within the City of Bloomington, visit the City's Housing & Neighborhoods portal.

Get the support of private and public partnerships that work together with leaders in government, community and business to secure local, state and federal assistance to help you succeed in Bloomington.

Grow your business in Bloomington with:

To learn about incentives available for your project, please contact the BEDC.

State Assistance

Tax Credits

Economic Development for a Growing Economy (EDGE): a refundable tax credit program that rewards companies creating jobs and contributing to the growth of Indiana's economy. EDGE credits are calculated as a percentage of payroll tax withholding for net new Indiana jobs. EDGE credits may be awarded for a period of up to 10 years. Learn more

Hoosier Business Investment Tax Credit (HBI): This program encourages capital investment in Indiana by providing a credit against a company's Indiana tax liability. The credit amount is based on a company's qualified capital investment with the final credit amount determined by the Indiana Economic Development Corporation, based on an analysis of the economic benefits of the proposed investment. Learn more

Headquarters Relocation Tax Credit: When a business relocates its corporate headquarters (defined as the location of the principal office of the principal executives) to Indiana, it is entitled to a credit against its state tax liability equal to half of the costs incurred in relocating the headquarters. A company must have worldwide annual revenue of at least $100 million to qualify. Learn more

Venture Capital Investment Tax Credit: The Venture Capital Investment Tax Credit was established to improve access to capital to fast-growing Indiana companies by providing individual and corporate investors an additional incentive to invest in early stage firms. Investors who provide qualified debt or equity capital to Indiana companies receive a credit against their Indiana income tax liability. Learn more

Industrial Recovery Tax Credit: The Industrial Recovery tax credit provides an incentive for companies to invest in facilities requiring significant rehabilitation or remodeling expense. After a building has been designated as an industrial recovery site, companies may be eligible for a tax credit calculated as a percentage of qualified rehabilitation expense. Learn more

R&D Tax Credit: The R&D tax credit provides a credit against state tax liability for qualified company research expenses. Learn more

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Tax Exemptions

Patent Income Exemption: Certain income dervied and earned from qualified patents by a taxpayer are exempt from taxation. Qualified patents include utility patents and plant patents.  Eligible taxpayers must be domiciled in Indiana and be an individual or corporation with not more than 500 employees. Learn more

R&D Sales Tax Exemption: There is a 100 percent sales tax exemption for qualified research and development equipment and property purchased. Learn more

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Workforce Training

Skills Enhancement Fund: The Skills Enhancement Fund (SEF) provides financial assistance to businesses committed to training their workforce. Trainees must be Indiana residents. SEF reimburses eligible training expenses over a two-year term. Companies may reapply for additional SEF funds after their initial two-year term. Companies can receive reimbursement ? up to $200,000 ? for retraining existing workers. Supplemental grant awards may be available for training new employees. Learn more

Technology Enhancement Certification for Hoosiers (TECH): The Technology Enhancement Certification for Hoosiers (TECH) Fund is a reimbursement grant program designed to help companies meet the demands of the new IT economy by increasing the number of certified information technology workers in Indiana. Learn more

Training Acceleration Grant (TAG): TAG provides financial assistance to companies and organizations committed to expanding the skills of their existing workforce through training that result in a transferable and industry-recognized credential. The TAG may be awarded in amounts up to $200,000 for terms of two years or less. Learn more

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Grants

21st Century Research and Technology Fund: The Indiana 21st Century Research and Technology Fund was created to stimulate the process of diversifying the State's economy by developing and commercializing advanced technologies in Indiana. Learn more

Industrial Development Grant Fund: This grant provides money to local governments for off-site infrastructure projects associated with an expansion of an existing Indiana company or the location of a new facility in Indiana. State funding through the IDGF program must be matched by a combination of local government and company financial support. Learn more

Small Business Innovation Research Initiative: The Small Business Innovation Research (SBIR) and its sister program, the Small Business Technology Transfer program (STTR), are highly competitive and encourage small businesses to explore their technological potential. SBIR/STTR funding is available from 11 participating agencies throughout the United States and focuses on various technological areas. Learn more

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Loans

Tax-exempt Bonds: These debt instruments, often called Private Activity Bonds, Industrial Revenue Bonds or Industrial Development Bonds, are issued by state or local governmental entities for the benefit of a private company, usually manufacturers. Interest on the bonds is generally exempt from federal income taxes for investors, which typically results in lower long-term interest rates to the borrower. Learn more

Capital Access Program: The Capital Access Program (CAP) is a small business credit enhancement program that creates a specific cash reserve fund for the lender to use as additional collateral for loans enrolled in the Program. CAP allows lenders to consider loans that might not meet conventional lending requirements. Learn more

 Foreign Trade Zone

The FTZ program helps American companies improve their competitive position versus their counterparts abroad. The FTZ program allows U.S.-based companies to defer, reduce or even eliminate Customs duties on products admitted to the zone. Learn more

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Local Assistance

Community Revitalization Enhancement District (CRED): This program encourages capital investment and jobs creation within a Community Revitalization Enhancement District (CRED). The CRED allows the City of Bloomington to capture increased sales and income tax dollars, generated by new investment within the CRED, to use for economic development purposes. These revenues have been used for infrastructure improvements or to reimburse capital investments made by businesses developing within the CRED. A taxpayer who makes an qualified investment within the CRED is eligiable for a tax credit toward a taxpayer's state and local income tax liability. The credit is equal to 25 percent of the qualified investment made by the taxpayer. The City of Bloomington operates two of these districts, one in the downtown area and the other in a growing employment center. 

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Tax Abatement

The City of Bloomington and Monroe County have elected to provide tax abatement for both new and existing companies that are creating jobs, retaining jobs and making a new investment in real and/or personal property. Under state law, local governments have the option of granting tax abatement for up to 10 years. On average, tax abatement can provide nearly 50 percent savings from property taxes over the life of the abatement.

Incentives within the Urban Enterprise Zone: View an enterprise zone map

  • Enterprise Zone Investment Deduction (EZID): The EZID is a 79 percent, 10-year deduction on the increased property taxes resulting from the increased property value within the Bloomington Urban Enterprise Zone (BUEZ) following a qualified investment.
  • Investment Cost Credit: An individual purchasing an ownership interest in a Zone business may be eligible to receive a tax credit of up to 30 percent of the purchase price.
  • Loan Interest Credit: A taxpayer may take a credit of 5 percent of the interest income received from a qualified loan made to a Zone business or resident. The loan must apply to purposes directly related to the business or increase the assessed value of real property in the Zone.

Tax Increment Financing: Monroe County is home to some of the most successful Tax Increment Financing (TIF) districts in Indiana. The City of Bloomington and Monroe County have invested millions on infrastructure improvements to help companies grow and create jobs. Exciting opportunities are on the horizon of Monroe County's newest TIF located at the corner of Highway 37 and Highway 46.

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Resources


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Working in Bloomington

Regions

The City of Bloomington resides in Monroe County. The Bloomington, Indiana Metropolitan Statistical Area (Bloomington MSA) is defined by the United States Census Bureau as an area consisting of two Indiana counties—Monroe and Owen.

As of the 2010 Census, Monroe County had a population of 137,974 and the City of Bloomington had a population of 80,405. Population estimates for 2013 for Monroe County are 141,888 and for the City of Bloomington are 82,575.

Stats Indiana provides a detailed profile of the Bloomington MSA and of Monroe County:

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Labor Force

  Labor Force Employment Unemployment Unemployment Rate
Bloomington MSA 93,809 88,508 5,301 5.7%
Economic Region 8 153,256 144,435 8,821 5.8%
Monroe County 69,227 65,627 3,600 5.2%

Data Source: Hoosiers By the Numbers (May 2014)

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Population Characteristics

Population
  Yesterday (2000) Today (2010) Tomorrow (2015)
Bloomington MSA 175,506 192,714 202,830
Monroe County 120,563 137,974 148,420

Data Source: Hoosiers By the Numbers

Age Distribution
  Bloomington MSA Monroe County
Under 5 9,619 6,430
5 to 17 25,472 15,790
18 to 24 45,178 41,044
25 to 44 46,462 33,530
45 to 64 43,872 27,555
65 and older 22,643 14,129

Data Source: Hoosiers By the Numbers; U.S. Census Bureau; Stats Indiana

Race and Ethnicity

Race/Ethnicity Percent
White 91.2%
Asian 4.1%
Black 2.5%
Hispanic or Latino 2.0%
Two or more races 1.99%
American Indian/Alaskan Native 0.3%

Data Source: Hoosiers By the Numbers; U.S. Census Bureau (2010)

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Education Characteristics

Education Attainment

  High School + Bachelor's Degree +
Bloomington MSA 91% 54.8%

Data Source: Stats Indiana

Higher Education Enrollment

Institution Enrollment
Indiana University-Bloomington 42,000
Ivy Tech Community College-Bloomington 6,500

Data Source: Stats Indiana

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Employment By Industry

Employment By Industry

Industry Bloomington MSA* Monroe County
Government 26,111 23,081
Health Care and Social Assistance 9,156* 9,156
Retail Trade 10,244 8,145
Accommodation and Food Services 7,942* 7,231
Manufacturing 9,362 6,990
Other Services 18,004* 4,409
Professional, Scientific, Technical Services 5,184 3,832
Construction 4,884 3,599
Wholesale Trade 1,883* 1,731
Information 1,646* 1,574
Arts, Entertainment, and Recreation 1,654* 1,545
Transportation and Warehousing 1,680 1,014

* These totals do not include county data which are not available due to BEA non-disclosure requirements.
Data Source:  Indiana Business Research Center, May 2011, U.S. Bureau of Economic Analysis

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Income & Wages

2011 Bloomington MSA Average Yearly Salary = $38,110
2010 Bloomington MSA Per Capita Personal Income = $30,022
2010 Monroe County Median Family Income = $38,348

Data Source: Hoosiers By the Numbers

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Annual Unemployment Average

  2005 2006 2007 2009 2011
Bloomington MSA 5.2% 4.6% 4.1% 7.0% 6.9%
Monroe County 4.7% 4.3% 4.0% 6.3% 6.4%

Data Source: Stats Indiana; Bureau of Labor Statistics (*2007 rate in August)

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Building Permits Issued

  Single-Family Multi-Family
Bloomington MSA 196 67
Monroe County 194 67

Data Source: Stats Indiana (2010)

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City of Bloomington Economic Development Areas

Bloomington Economic Development Areas

Bloomington Economic Development Areas

Downtown Economic Development Areas

Bloomington Entertainment and Arts District (BEAD)

Bloomington Urban Enterprise Zone (BUEZ)

Certified Technology Park (CTP)

Community Revitalization and Enhancement Districts (CRED)

Downtown CRED:

Thomson CRED:

Bloomington Tax Increment Financing (TIF) Districts

Monroe County Tax Increment Financing (TIF) Districts

Interactive Maps

Additional Map Resources

Monroe County Shovel Ready Sites

The BEDC has successfully secured Shovel Ready certification for four sites in Monroe County.         
The Indiana Economic Development Corporation's (IEDC) Shovel Ready Program lowers the cost of site development, improves efficiency of state permitting, and reduces much of the uncertainty associated with site selection. Because site information is available before development, potential risks of investing and improving new land are reduced for businesses. The goals of the Shovel Ready Program include:
  • Certifying sites and existing buildings to expedite the location and permitting processes for business development
  • Identifying and fast tracking the state and local permits necessary for a specific site (dependent on the end user)
The BEDC has also identified a Data Center Ready site in Monroe County.
Assisted by a grant from Duke Energy, the BEDC was able to perform environmental and hydrological studies, as well as professional surveys, maps and marketing materials, making the site more attractive to businesses that house computer data centers. The standards, established by the Telecommunications Industry of America, include the price of power, secure location, networking infrastructure, accessability, talent pool and local incentives.

Airports

Indianapolis International Airport

Bloomington is only 47 miles (less than a one hour drive) from the Indianapolis International Airport (Airport Code: IND), which serves approximately 8.5 million passengers on 11 major airlines each year. Indianapolis International Airport is also one of the world's largest cargo airports (eighth in the United States, 21st worldwide).

As of the first quarter of 2012, there were 135 daily departures to 34 nonstop destinations from Indianapolis International Airport (IND).
For more information, visit www.indianapolisairport.com

Nonstop destinations to/from Indianapolis:

Atlanta (ATL)
Baltimore (BWI)
Boston (BOS)
Cancun (CUN) * 
Charlotte (CLT) 
Chicago Midway (MDW) 
Chicago O'Hare (ORD) 
Cleveland (CLE)
Dallas/Fort Worth (DFW)
Denver (DEN) 
Detroit (DTW) 
Ft. Lauderdale/Hollywood (FLL) 
Ft. Myers (RSW) 
Houston Intercontinental (IAH) 
Kansas City (MCI)
Las Vegas (LAS)
Los Angeles (LAX)

Memphis (MEM) 
Miami (MIA) 
Minneapolis (MSP)
New York (JFK)
New York La Guardia (LGA)
New York/Newark (EWR)
Orlando (MCO)
Philadelphia (PHL)
Phoenix (PHX)
Raleigh/Durham (RDU)
Salt Lake City (SLC)
Sarasota (SRQ) *
Tampa (TPA)
Toronto (YYZ)
Washington Dulles (IAD)
Washington National (DCA)

For more information, visit www.indianapolisairport.com.

Monroe County Airport

Monroe County Airport (Airport Code: BMG) is a county-owned public-use airport located three miles southwest of Bloomington's central business district. Our community’s aviation facility provides convenient access for private, corporate, and chartered commercial aircraft operations.

The airport’s 6,500 foot runway will easily accommodate your business needs, and with nearly 50,000 annual operations, local and transient businesses utilize the air traffic control services, precision instrument landing systems, automated weather services, and full service Fixed Base Operators. For more information, visit www.airnav.com/airport/BMG. For the 2012 AAI Economic Impact Study on Indiana airports, visit here.

Rail

The Indiana Rail Road Company is a Class 2 regional freight railroad operating on a 500-mile route structure of former Milwaukee Road and Illinois Central lines in Indiana and Illinois, including terminals at Chicago, Indianapolis, Terre Haute and Louisville.

Annual car loadings approach 170,000 and include coal, petroleum products, plastics, ethanol, grain, aggregates, lumber, appliances and other mixed freight. For more information, visit www.inrd.com.

Interstate Access

Designated as one of six Corridors of the Future, I-69 will ultimately extend from Mexico to Canada-- making it the primary north-south artery for the movement of goods and services in the US. 

I-69 is rapidly moving through construction. Sections 1 through 3 from Evansville to Crane Naval Surface Warfare Center are now open to traffic and Section 4 from Crane to Bloomington is slated to open by early 2015. At the peak of construction in 2011, I-69 was the longest contiguous new terrain interstate construction project in the U.S., putting Indiana in an enviable position to attract new jobs in a competitive global market place. 

For more information on the I-69 Evansville to Indianapolis project, visit here.

Navigable Inland Ports

Indiana ranks 6th in U.S. waterborne shipping and 13th for foreign and domestic shipping with about 70 million tons of cargo per year. More than half of Indiana's border is water, which includes 400 miles of direct access to two major freight transportation arteries - the Great Lakes/St. Lawrence Seaway and the Inland Waterway System. The Ports of Indiana is self-funded enterprise that operates a system of three ports on the Ohio River and Lake Michigan for the state of Indiana.

Access to Indiana ports:

  • Port of Indiana-Jeffersonville: 100m

  • Port of Indiana-Mount Vernon: 168m

  • Port of Indiana-Burns Harbor: 210m

For more information, visit www.portsofindiana.com.