Lawrenceburg, Indiana Property Taxes
The median property tax rate in Lawrenceburg, IN is 0.90%, which is slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Lawrenceburg, the typical annual property tax bill reaches $1,872, which is lower than the national median of $2,690. Property taxes in Lawrenceburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lawrenceburg'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 Lawrenceburg 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
Lawrenceburg, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$1,840
Ownwell’s Lawrenceburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lawrenceburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lawrenceburg 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 Lawrenceburg, Indiana
Property taxes in Lawrenceburg, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lawrenceburg is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Lawrenceburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lawrenceburg 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 Lawrenceburg's effective property tax rate to other areas in Indiana and the national median. For comparison, the 47025 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Lawrenceburg provides valuable insights into the varying tax landscape across Dearborn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lawrenceburg Tax Rate
0.90%
Average Dearborn County Tax Rate
0.95%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lawrenceburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47025 | 0.70% | 0.81% | 0.90% | 1.02% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Lawrenceburg, Indiana
In Lawrenceburg, 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 Dearborn 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 Lawrenceburg, 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 Lawrenceburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Lawrenceburg, the median home price is $204,400, with tax bills ranging from $1,369 at the 25th percentile to $3,401 at the 90th percentile. The zip code 47025 has both the highest and lowest median tax bill, at $1,872.
Average Lawrenceburg Assessed Value
$204,400
Average Dearborn County Assessed Value
$174,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lawrenceburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47025 | $99,670 | $154,300 | $204,400 | $255,225 | $311,030 |
Source: Ownwell
Property Tax Bills Across Lawrenceburg, Indiana
In Lawrenceburg, located in Dearborn County, IN, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local assessor's office, which evaluates the property's market value and then applies a standard assessment ratio. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Lawrenceburg, the median home price is $204,400. The property tax rate in the area results in a median tax bill of $1,872. This amount can vary significantly, with the 25th percentile tax bill at $1,369 and the 75th percentile at $2,480. At the higher end, the 90th percentile tax bill reaches $3,401. These figures illustrate how property taxes can impact homeowners differently based on their property's assessed value and location within the city. Comparing these values to the national median property tax rate of 0.99%, it's evident that tax bills in Lawrenceburg can be both a manageable expense and a significant financial consideration for residents.
Average Lawrenceburg Tax Bill
$1,872
Average Dearborn County Tax Bill
$1,720
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Lawrenceburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47025 | $902 | $1,369 | $1,872 | $2,480 | $3,401 |
Source: Ownwell