Taxes

2023 Wells County Property Tax Rates (Varies by Township and City)

 
Township Tax Rate

Chester  1.0431
Poneto-Chester  1.7781
Harrison  1.3832
Bluffton-Harrison  1.8039
Ponteo-Harrison  2.0485
Vera-Cruz  1.4891
Jackson 1.0159
Jefferson  1.3075
Ossian 1.5818
Lancaster  1.3469
Bluffton Lancaster-Norwell 1.7676
Bluffton Lancaster-Bluffton Harrison 1.8150
Liberty 1.0899
Poneto-Liberty 1.7844
Nottingham 1.0567
Rockcreek 1.2897
Markle-Rockcreek 2.2704
Uniondale-Rockcreek 1.5974
Union 1.2789
Markle-Union  2.2609
Uniondale-Union  1.5879
Zanesville-Union 1.5017

Indiana Tax Information

Indiana ranks 1st in the Midwest and 5th nationally in the Chief Executive's "2018 Best and Worst State's for Business" (May 2018).

Indiana Ranks 2nd as the "Most Affordable State" according to U.S. News (May 2018)

Corporate Income Tax

The Corporate Adjusted Gross Income Tax is calculated at a flat 6.25 percent of adjusted gross income. Adjusted gross income is a company’s federal adjusted gross income with certain adjustments. This method of determination simplifies tax calculations for corporations and does not apply to S corporations and not-for-profit organizations.
* Indiana's corporate income tax rate is decreasing from the current 6.25% to 4.9% by 2021.

Gasoline and Diesel Fuel Taxes

The combined federal, state and local tax on gasoline in Indiana is $0.483 per gallon. The combined
federal, state and local tax on diesel fuel in Indiana is $0.632 per gallon.

Gross receipts and Inventory Tax

Indiana has no gross receipts tax and no inventory tax.

Individual Income Tax

Indiana’s personal income tax is 3.23 percent of federal adjusted gross income (with certain exemptions and deductions).
**Personal income tax rate decreased from 3.3% for 2015-2016 to 3.23% for 2017 and beyond.

Wells County personal income tax rate is 2.1 percent, including County Economic Development Income Tax (CEDIT) .45% of Individual Adjusted Gross Income.

Sales and Use Tax

Indiana’s Sales and Use Tax is tax is calculated at a rate of 7%. In manufacturing, the following are exempt from the sales tax: raw materials, equipment, power, electricity, and utilities. Wholesale sales, items used directly in production, and sales made in interstate commerce are exempt. In addition, the purchase of research and development equipment is exempt from the tax.

Business Property Tax

There is a 3% cap on Indiana's business property tax.