Logansport, Indiana Property Taxes
The median property tax rate in Logansport, IN is 0.48%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Logansport at $176,800, the typical annual property tax bill amounts to $839, well below the national median of $2,690. Property taxes in Logansport are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Logansport's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Logansport or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Logansport, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$849
Ownwell’s Logansport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Logansport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Logansport to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Logansport, Indiana
Property taxes in Logansport, Indiana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Logansport is 0.48%, which is significantly lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Logansport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Logansport estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Logansport's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46947 zip code has the highest median property tax rate of 0.48%, while the same zip code also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Logansport provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Logansport Tax Rate
0.48%
Average Carroll County Tax Rate
0.65%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Logansport, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46947 | 0.32% | 0.37% | 0.48% | 0.82% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Logansport, Indiana
In Logansport, Indiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by local appraisal authorities for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Logansport, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Logansport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 46947, with a median tax bill of $839.
Average Logansport Assessed Value
$176,800
Average Carroll County Assessed Value
$127,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Logansport, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46947 | $65,400 | $104,900 | $176,800 | $235,950 | $337,500 |
Source: Ownwell
Property Tax Bills Across Logansport, Indiana
In Logansport, located in Carroll County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. Homeowners in this region can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $440, while those in the 75th percentile pay approximately $1,569. At the higher end, the 90th percentile tax bill reaches $2,796. The median home price in Logansport is $176,800, and the median tax bill stands at $839, which is below the national median property tax rate of 0.99%. Factors influencing these tax bills include the property's assessed value, local tax rates, and applicable exemptions. For homeowners, understanding these elements is crucial as they impact annual financial planning and the overall cost of homeownership. Lower property taxes compared to the national average can make Logansport an attractive place for potential buyers looking for affordable living costs.
Average Logansport Tax Bill
$839
Average Carroll County Tax Bill
$831
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Logansport, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46947 | $256 | $440 | $839 | $1,569 | $2,796 |
Source: Ownwell