Lewisville, Indiana Property Taxes
The median property tax rate in Lewisville, IN is 0.90%, slightly below the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Lewisville at $93,000, the typical annual property tax bill comes to $806, which is lower than the national median of $2,690. Property taxes in Lewisville are calculated based on the tax assessed value, often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lewisville'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 Lewisville 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
Lewisville, 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 Lewisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lewisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewisville 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 Lewisville, Indiana
Property taxes in Lewisville, Indiana, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewisville is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Lewisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewisville 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 Lewisville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47352 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Lewisville provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewisville Tax Rate
0.90%
Average Henry County Tax Rate
0.91%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewisville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47352 | 0.44% | 0.65% | 0.90% | 1.83% | 2.50% |
Source: Ownwell
Property Tax Assessment Values Across Lewisville, Indiana
In Lewisville, 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 Henry 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 Lewisville, 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 Lewisville is $93,000, with tax bills ranging from $453 at the 25th percentile to $2,510 at the 90th percentile. The highest and lowest median tax bills are both $806, found in the 47352 zip code. 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 Lewisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lewisville Assessed Value
$93,000
Average Henry County Assessed Value
$106,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewisville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47352 | $29,060 | $52,550 | $93,000 | $143,825 | $216,020 |
Source: Ownwell
Property Tax Bills Across Lewisville, Indiana
In Lewisville, Henry County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Lewisville, the median home price is $93,000. The local property tax rate can significantly impact the tax bill, with the national median property tax rate being 0.99%. Factors such as location, property size, and any applicable exemptions or deductions also play a role in determining the final tax bill. For instance, the 25th percentile tax bill in Lewisville is $453, while the 75th percentile tax bill is $1,431, and the 90th percentile tax bill can reach up to $2,510. These variations illustrate how different factors can influence the amount homeowners need to pay. Understanding these elements is crucial for homeowners to anticipate their property tax obligations and manage their finances effectively.
Average Lewisville Tax Bill
$806
Average Henry County Tax Bill
$960
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewisville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47352 | $273 | $453 | $806 | $1,431 | $2,510 |
Source: Ownwell