La Fontaine, Indiana Property Taxes
The median property tax rate in La Fontaine, IN is 0.79%, notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $147,950 in La Fontaine, the typical annual property tax bill is approximately $863, well below the national median of $2,690. Property taxes in La Fontaine are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding La Fontaine'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 La Fontaine 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
La Fontaine, 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 LA FONTAINE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA FONTAINE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA FONTAINE 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 La Fontaine, Indiana
Property taxes in LA FONTAINE, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA FONTAINE is 0.79%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within LA FONTAINE set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA FONTAINE 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 LA FONTAINE's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46940 has both the highest and lowest median property tax rate of 0.79%. Understanding how these areas compare with LA FONTAINE provides valuable insights into the varying tax landscape across Huntington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Fontaine Tax Rate
0.79%
Average Huntington County Tax Rate
0.90%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Fontaine, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46940 | 0.39% | 0.53% | 0.79% | 1.23% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across La Fontaine, Indiana
In LA FONTAINE, 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 Huntington 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 LA FONTAINE, 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 LA FONTAINE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in LA FONTAINE is $147,950, with annual tax bills ranging from $420 at the 25th percentile to $3,199 at the 90th percentile. The zip code with the highest median tax bill is 46940, which also represents the lowest median tax bill at $863.
Average La Fontaine Assessed Value
$147,950
Average Huntington County Assessed Value
$130,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Fontaine, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46940 | $19,790 | $75,150 | $147,950 | $223,850 | $311,460 |
Source: Ownwell
Property Tax Bills Across La Fontaine, Indiana
In La Fontaine, Huntington County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $147,950, homeowners can expect varying tax bills. The 25th percentile tax bill is around $420, while the 75th percentile tax bill reaches $1,926. At the higher end, the 90th percentile tax bill can be as much as $3,199. Several factors influence these calculations, including property size, location, and any applicable exemptions. Homeowners in La Fontaine benefit from relatively moderate property tax rates compared to the national median of 0.99%. For example, the highest median tax bill in the area is $863, which is significantly lower than many other regions. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average La Fontaine Tax Bill
$863
Average Huntington County Tax Bill
$1,172
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across La Fontaine, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46940 | $202 | $420 | $863 | $1,926 | $3,199 |
Source: Ownwell