Losantville, Indiana Property Taxes
The median property tax rate in Losantville, IN is 0.75%, 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 at $93,600, the typical annual property tax bill amounts to $723, falling below the national median of $2,690. Property taxes in Losantville are calculated based on the tax assessed value, typically lower than 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 is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Losantville using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Losantville to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed information, scroll down to explore trends at a neighborhood level. Your property’s assessed value, determined by Henry County, is used for property tax calculations and takes into account any applicable exemptions.
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 0.75%, which is lower than 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 zip code 47354 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Losantville 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 Losantville Tax Rate
0.75%
Average Henry County Tax Rate
0.91%
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 | 0.24% | 0.50% | 0.75% | 1.62% | 2.08% |
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 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 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. For instance, the median home price in Losantville is $93,600, with annual tax bills ranging from $342 at the 25th percentile to $2,024 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Losantville Assessed Value
$93,600
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 Losantville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47354 | $21,300 | $54,150 | $93,600 | $149,100 | $207,600 |
Source: Ownwell
Property Tax Bills Across Losantville, Indiana
In Losantville, property tax bills are calculated based on the assessed value of a property, which is a percentage of the market value determined by local assessors. For homeowners, the median home price stands at $93,600. Property taxes are influenced by various factors, including the assessed value of the home, local tax rates, and any applicable exemptions or deductions. In Henry County, the median property tax bill is $723, which aligns with the national median property tax rate of 0.99%. However, individual tax bills can vary significantly. For example, the 25th percentile tax bill is $342, while the 75th percentile reaches $1,287, and the 90th percentile goes up to $2,024. These variations indicate that higher-valued properties or those in areas with higher tax rates will incur steeper taxes. For homeowners, understanding these factors is crucial as property taxes directly impact annual housing costs and can influence decisions on buying or selling property in Losantville.
Average Losantville Tax Bill
$723
Average Henry County Tax Bill
$960
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 | $153 | $342 | $723 | $1,287 | $2,024 |
Source: Ownwell