Union Mills, Indiana Property Taxes
The median property tax rate in Union Mills, IN is 1.00%, slightly higher than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Union Mills at $155,150, the typical annual property tax bill reaches $1,542, which is below the national median of $2,690. Property taxes in Union Mills are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Union Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Union Mills or another part of LaPorte County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Union Mills, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s UNION MILLS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UNION MILLS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UNION MILLS 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 Union Mills, Indiana
Property taxes in Union Mills, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union Mills is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Union Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union Mills 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 Union Mills' effective property tax rate to other counties in Indiana and the national median. For comparison, the 46382 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Union Mills provides valuable insights into the varying tax landscape across LaPorte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Union Mills Tax Rate
1.00%
Average Laporte County Tax Rate
1.00%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union Mills, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46382 | 0.61% | 0.82% | 1.00% | 1.09% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Union Mills, Indiana
In Union Mills, 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 LaPorte 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. In Union Mills, 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 Union Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 46382 has the highest median tax bill at $1542, while the lowest is also in the same zip code.
Average Union Mills Assessed Value
$155,150
Average Laporte County Assessed Value
$136,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Union Mills, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46382 | $68,000 | $105,700 | $155,150 | $203,775 | $259,300 |
Source: Ownwell
Property Tax Bills Across Union Mills, Indiana
In Union Mills, LaPorte County, IN, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value set by local assessors, taking into account factors like location, property size, and condition. Homeowners in Union Mills can expect varying tax bills depending on their property's assessed value. For instance, the median home price is $155,150, and tax bills can range significantly. The 25th percentile tax bill is around $888, while the 75th percentile tax bill reaches approximately $2,258. At the 90th percentile, homeowners might see tax bills as high as $2,913. Comparatively, the national median property tax rate is 0.99%, making Union Mills' tax landscape relatively moderate. These tax bills directly impact homeowners by influencing their annual financial planning and overall cost of homeownership. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Union Mills Tax Bill
$1,542
Average Laporte County Tax Bill
$1,442
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Union Mills, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46382 | $451 | $888 | $1,542 | $2,258 | $2,913 |
Source: Ownwell