Ligonier, Indiana Property Taxes
The median property tax rate in Ligonier, IN is 0.60%, which is significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Ligonier at $344,850, the typical annual property tax bill reaches $2,094, falling below the national median of $2,690. Property taxes in Ligonier are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ligonier'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 Ligonier 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
Ligonier, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$2,069
Ownwell’s Ligonier Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Ligonier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ligonier to provide an estimate of your property tax bill. This valuable tool offers insights into your potential tax obligations. For those interested in more detailed information, including neighborhood-level trends, additional localized data is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Ligonier, Indiana
Property taxes in Ligonier, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ligonier is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Ligonier set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ligonier 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 Ligonier's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46767 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Ligonier provides valuable insights into the varying tax landscape across LaGrange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ligonier Tax Rate
0.60%
Average Lagrange County Tax Rate
0.63%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ligonier, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46767 | 0.44% | 0.53% | 0.60% | 0.82% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Ligonier, Indiana
In Ligonier, 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 LaGrange 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 Ligonier, 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 example, the median home price is $344,850. Property tax bills can range significantly, with the 25th percentile at $944 and the 75th percentile at $2,712. The highest and lowest median tax bills are both $2,094, found in the 46767 zip code. 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 Ligonier Assessed Value
$344,850
Average Lagrange County Assessed Value
$195,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ligonier, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46767 | $42,510 | $197,250 | $344,850 | $444,125 | $584,630 |
Source: Ownwell
Property Tax Bills Across Ligonier, Indiana
In Ligonier, property tax bills are calculated based on the assessed value of a home, which is determined by the LaGrange County Assessor's Office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Ligonier is $344,850, and property tax bills can vary significantly. For instance, homeowners at the 25th percentile pay around $944 annually, while those at the 75th percentile face bills of about $2,712. At the 90th percentile, the tax bill can reach $4,031. Factors influencing these amounts include the home's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. Compared to the national median property tax rate of 0.99%, Ligonier's rates can seem relatively high or low depending on the home's value and exemptions. For homeowners, this means property taxes can significantly impact annual expenses, making it crucial to understand how these taxes are calculated and what exemptions might be available.
Average Ligonier Tax Bill
$2,094
Average Lagrange County Tax Bill
$1,119
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Ligonier, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46767 | $319 | $944 | $2,094 | $2,712 | $4,031 |
Source: Ownwell