Losantville, Indiana Property Taxes
The median property tax rate in Losantville, IN is 0.80%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Losantville being $108,300, the typical annual property tax bill amounts to $888, significantly less than the national median of $2,690. Property taxes in Losantville 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 Losantville'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 Losantville 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
Losantville, 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 LOSANTVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LOSANTVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LOSANTVILLE 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 Losantville, Indiana
Property taxes in Losantville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Losantville is 0.80%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Losantville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Losantville 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 Losantville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47354 zip code has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Losantville provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Losantville Tax Rate
0.80%
Average Randolph County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Losantville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47354 | 0.44% | 0.63% | 0.80% | 1.33% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Losantville, Indiana
In Losantville, 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 Randolph 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 Losantville, 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 Losantville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 47354 has the highest and lowest median tax bill at $888.
Average Losantville Assessed Value
$108,300
Average Randolph County Assessed Value
$87,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Losantville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47354 | $37,600 | $57,625 | $108,300 | $159,650 | $224,920 |
Source: Ownwell
Property Tax Bills Across Losantville, Indiana
In Losantville, located in Randolph County, IN, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. For homeowners, several factors influence the final tax bill, including the assessed value of their property and applicable exemptions. The median home price in Losantville is $108,300, which provides a baseline for understanding property tax obligations. Homeowners in Losantville can expect their tax bills to vary significantly. The tax bill at the 25th percentile is around $504, while at the 75th percentile, it reaches approximately $1,342. For those at the 90th percentile, the tax bill can be as high as $2,070. The highest median tax bill in the area is $888, which aligns with the lowest median tax bill, both found in the zip code 47354. These property taxes directly impact homeowners by influencing their annual housing costs and overall financial planning. Compared to the national median property tax rate of 0.99%, Losantville's rates reflect the local economic conditions and property values.
Average Losantville Tax Bill
$888
Average Randolph County Tax Bill
$890
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Losantville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47354 | $238 | $504 | $888 | $1,342 | $2,070 |
Source: Ownwell