Lizton, Indiana Property Taxes
The median property tax rate in Lizton, IN is 0.99%, aligning perfectly with both the national median and the Indiana state median. With a median home value of $236,000 in Lizton, the typical annual property tax bill amounts to $2,458, just below the national median of $2,690. Property taxes in Lizton are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Lizton'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 Lizton or another part of Hendricks County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lizton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,336
Ownwell’s Lizton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lizton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lizton 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 Lizton, Indiana
Property taxes in Lizton, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lizton is 0.99%, aligning with both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Lizton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lizton 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 Lizton's effective property tax rate to other areas in Hendricks County and the national median. For comparison, the zip code 46149 has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Lizton provides valuable insights into the varying tax landscape across Hendricks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lizton Tax Rate
0.99%
Average Hendricks County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lizton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46149 | 0.77% | 0.88% | 0.99% | 1.16% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Lizton, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lizton, 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 Hendricks 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 Lizton, 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 Lizton is $236,000, with tax bills ranging from $1,623 at the 25th percentile to $5,194 at the 90th percentile. The zip code 46149 has the highest and lowest median tax bill of $2,458. 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 Lizton Assessed Value
$236,000
Average Hendricks County Assessed Value
$256,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lizton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46149 | $120,620 | $169,500 | $236,000 | $329,500 | $461,620 |
Source: Ownwell
Property Tax Bills Across Lizton, Indiana
In Lizton, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Lizton, the median home price is $236,000, and the property tax rates can vary widely within the region. For instance, the 25th percentile tax bill is approximately $1,623, while at the 75th percentile, it rises to about $3,588. At the 90th percentile, homeowners might see tax bills as high as $5,194. The highest and lowest median tax bills in the area are both recorded at $2,458 in the 46149 zip code, reflecting a consistent property tax rate within that specific region. These property taxes have a significant impact on homeowners, influencing their overall cost of living and potentially affecting their decisions on buying or selling property. Compared to the national median property tax rate of 0.99%, Lizton's tax rates can represent a considerable expense for property owners.
Average Lizton Tax Bill
$2,458
Average Hendricks County Tax Bill
$2,647
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Lizton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46149 | $1,061 | $1,623 | $2,458 | $3,588 | $5,194 |
Source: Ownwell