Lebanon, Indiana Property Taxes
The median property tax rate in Lebanon, IN is 1.14%, notably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Lebanon at $353,500, the typical annual property tax bill reaches $4,145, exceeding the national median of $2,690. Property taxes in Lebanon are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lebanon'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 Lebanon 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
Lebanon, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$4,030
Ownwell’s Lebanon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lebanon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lebanon 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 Lebanon, Indiana
Property taxes in Lebanon, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lebanon is 1.14%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Lebanon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lebanon 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 Lebanon's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46052 zip code has the highest median property tax rate of 1.14%, while the 46052 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Lebanon provides valuable insights into the varying tax landscape across Hendricks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lebanon Tax Rate
1.14%
Average Hendricks County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lebanon, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46052 | 1.09% | 1.11% | 1.14% | 1.17% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Indiana
In Lebanon, 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 Hendricks 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 Lebanon, 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 Lebanon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Lebanon is $4,145 in the 46052 zip code, whereas the lowest median tax bill is also $4,145 in the same zip code. The median home price in this area is $353,500, with tax bills ranging from $3,919 at the 25th percentile to $4,925 at the 90th percentile.
Average Lebanon Assessed Value
$353,500
Average Hendricks County Assessed Value
$256,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lebanon, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46052 | $310,260 | $326,000 | $353,500 | $363,850 | $422,470 |
Source: Ownwell
Property Tax Bills Across Lebanon, Indiana
In Lebanon, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the home. For instance, with a median home price of $353,500, the tax bill can vary significantly depending on the specific assessment and applicable tax rates. Several factors influence the final tax bill, including the property's location within the county, applicable exemptions, and local tax levies. In Lebanon, homeowners can expect their tax bills to fall within a range, with the 25th percentile at $3,919 and the 75th percentile at $4,613. For those at the 90th percentile, the tax bill can reach up to $4,925. This variability can affect homeowners differently, depending on their property's assessed value and eligibility for any exemptions. Compared to the national median property tax rate of 0.99%, Lebanon's tax rates and bills reflect the local economic conditions and funding needs, providing essential revenue for community services and infrastructure.
Average Lebanon Tax Bill
$4,145
Average Hendricks County Tax Bill
$2,647
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Lebanon, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46052 | $3,637 | $3,919 | $4,145 | $4,613 | $4,925 |
Source: Ownwell