Howe, Indiana Property Taxes
The median property tax rate in Howe, IN is 0.62%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Howe at $123,300, the typical annual property tax bill amounts to $537, well below the national median of $2,690. Property taxes in Howe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Howe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Howe or another part of LaGrange County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Howe, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$764
Ownwell’s Howe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Howe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Howe 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 Howe, Indiana
Property taxes in Howe, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Howe is 0.62%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Howe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Howe 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 Howe's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46746 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Howe provides valuable insights into the varying tax landscape across LaGrange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Howe Tax Rate
0.62%
Average Lagrange County Tax Rate
0.63%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Howe, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46746 | 0.27% | 0.36% | 0.62% | 0.98% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Howe, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Howe, Indiana. 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 LaGrange County Assessor 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. Assessment notices in Howe 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. Notably, Howe's median home price stands at $123,300, with the highest and lowest median tax bills both recorded at $537 in ZIP code 46746. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Howe Assessed Value
$123,300
Average Lagrange County Assessed Value
$195,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Howe, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46746 | $5,400 | $36,500 | $123,300 | $203,400 | $309,200 |
Source: Ownwell
Property Tax Bills Across Howe, Indiana
In Howe, located in LaGrange County, Indiana, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is a crucial factor, as it directly influences the tax bill. For instance, with a median home price of $123,300, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Tax bills in Howe range significantly, with the 25th percentile at $185 and the 75th percentile reaching $1,119. The 90th percentile sees bills as high as $1,767. This variability highlights the impact of property value assessments and local tax rates on homeowners' expenses. The highest and lowest median tax bills in Howe are both recorded at $537, indicating some consistency within the area. Compared to the national median property tax rate of 0.99%, Howe's property tax rates can vary widely, affecting how much homeowners ultimately pay. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets effectively.
Average Howe Tax Bill
$537
Average Lagrange County Tax Bill
$1,119
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Howe, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46746 | $53 | $185 | $537 | $1,119 | $1,767 |
Source: Ownwell