La Fontaine, Indiana Property Taxes
The median property tax rate in LA FONTAINE, IN is 0.96%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $231,300 in LA FONTAINE, the typical annual property tax bill amounts to $2,226, which is lower than the national median of $2,690. Property taxes in LA FONTAINE are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding LA FONTAINE'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 LA FONTAINE 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
La Fontaine, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,220
Ownwell’s LA FONTAINE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA FONTAINE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA FONTAINE 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 La Fontaine, Indiana
Property taxes in LA FONTAINE, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA FONTAINE is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within LA FONTAINE set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA FONTAINE 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 LA FONTAINE's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46940 ZIP code has the highest median property tax rate of 0.96%, while the lowest median tax rate is also 0.96%. Understanding how these cities compare with LA FONTAINE provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Fontaine Tax Rate
0.96%
Average Grant County Tax Rate
0.87%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Fontaine, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46940 | 0.46% | 0.69% | 0.96% | 1.43% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across La Fontaine, Indiana
In LA FONTAINE, 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 the Grant County Appraisal District 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 LA FONTAINE, 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 LA FONTAINE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 46940, with a tax bill of $2,226.00, while the lowest median tax bill is also in zip code 46940, at $2,226.00.
Average La Fontaine Assessed Value
$231,300
Average Grant County Assessed Value
$99,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Fontaine, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46940 | $124,020 | $164,400 | $231,300 | $266,800 | $301,300 |
Source: Ownwell
Property Tax Bills Across La Fontaine, Indiana
In La Fontaine, located in Grant County, IN, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The median home price in La Fontaine is $231,300, and property taxes are applied to this assessed value. The tax bill is influenced by multiple factors, including the property's size, location, and any applicable exemptions or deductions. Homeowners in La Fontaine can expect their annual tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,016, while at the 75th percentile, it rises to $3,152. The tax bill at the 90th percentile reaches $4,192. Comparatively, the national median property tax rate is 0.99%, providing a benchmark for understanding local tax burdens. Higher property taxes can affect homeowners by increasing the overall cost of homeownership, potentially impacting decisions related to buying or selling property. Understanding how these taxes are calculated helps homeowners plan their finances more effectively and take advantage of any available tax relief options.
Average La Fontaine Tax Bill
$2,226
Average Grant County Tax Bill
$892
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across La Fontaine, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46940 | $623 | $1,016 | $2,226 | $3,152 | $4,192 |
Source: Ownwell