Leavenworth, Indiana Property Taxes
The median property tax rate in Leavenworth, Indiana is 0.84%, 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 Leavenworth at $178,400, the typical annual property tax bill amounts to $2,226, falling below the national median of $2,690. Property taxes in Leavenworth are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Leavenworth'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 Leavenworth 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
Leavenworth, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,499
Ownwell’s Leavenworth Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Leavenworth. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in Leavenworth to provide an estimate of your property tax bill. This insightful tool helps you understand your potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Harrison County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Leavenworth, Indiana
Property taxes in Leavenworth, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leavenworth is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Leavenworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leavenworth 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 Leavenworth's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47137 has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Leavenworth provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leavenworth Tax Rate
0.84%
Average Harrison County Tax Rate
0.61%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leavenworth, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47137 | 0.44% | 0.59% | 0.84% | 1.09% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Leavenworth, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Leavenworth, 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 Harrison 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 Leavenworth, 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. For instance, the median home price in Leavenworth is $178,400, with tax bills ranging from $1,167 at the 25th percentile to $3,284 at the 75th percentile, and $3,919 at the 90th percentile. Notably, the zip code 47137 has both the highest and lowest median tax bill at $2,226. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leavenworth Assessed Value
$178,400
Average Harrison County Assessed Value
$175,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leavenworth, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47137 | $61,440 | $105,300 | $178,400 | $251,500 | $295,360 |
Source: Ownwell
Property Tax Bills Across Leavenworth, Indiana
In Leavenworth, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by Harrison County. The median home price in Leavenworth is $178,400, and the property tax rate in the region influences how much homeowners will pay annually. Several factors are considered in determining the tax bill, including the home's market value, any applicable exemptions, and the specific tax rate for the area. For example, the 25th percentile tax bill in Leavenworth is $1,167, while the 75th percentile tax bill is $3,284. This variation reflects differences in home values and any exemptions homeowners might qualify for. The property tax burden can significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, homeowners in Leavenworth experience a range of tax bills depending on their property's assessed value and applicable exemptions.
Average Leavenworth Tax Bill
$2,226
Average Harrison County Tax Bill
$1,112
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Leavenworth, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47137 | $532 | $1,167 | $2,226 | $3,284 | $3,919 |
Source: Ownwell