Lake County Property Taxes
The median property tax rate in Lake County is 1.07%, which is higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Lake County at $187,400, the typical annual property tax bill is $2,011, slightly below the national median of $2,690. Property taxes in Lake County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Lake County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Crown Point or another part of Lake County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lake County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,005
-$21,014
Ownwell’s Lake County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Lake County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lake County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property's assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Lake County, Indiana
Property taxes in Lake County, Indiana, are vital for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake County is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Lake County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lake County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of New Chicago has one of the higher property tax rates in Indiana at 1.41%, while the city of Shelby boasts one of the lowest at 0.75%. Analyzing how Lake County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lake County Tax Rate
1.07%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cedar Lake | 0.75% | 0.95% | 1.09% | 1.17% | 2.11% |
| Crown Point | 0.73% | 0.90% | 1.03% | 1.07% | 1.14% |
| Dyer | 0.75% | 0.95% | 1.14% | 1.19% | 1.22% |
| East Chicago | 0.67% | 0.89% | 1.00% | 1.76% | 1.91% |
| Fishers | 1.39% | 1.39% | 1.39% | 1.39% | 1.39% |
| Gary | 0.45% | 1.00% | 1.31% | 2.33% | 2.51% |
| Griffith | 0.87% | 1.03% | 1.07% | 1.11% | 1.60% |
| Hammond | 0.98% | 1.16% | 1.22% | 2.51% | 2.54% |
| Hebron | 0.64% | 0.75% | 0.90% | 1.05% | 1.32% |
| Highland | 0.74% | 0.84% | 0.91% | 0.96% | 1.65% |
| Hobart | 0.88% | 1.05% | 1.12% | 1.19% | 2.22% |
| Lake Station | 0.80% | 1.05% | 1.16% | 2.27% | 2.83% |
| Leroy | 0.31% | 0.60% | 0.85% | 1.71% | 1.73% |
| Lowell | 0.73% | 0.84% | 0.93% | 0.97% | 1.32% |
| Merrillville | 0.60% | 0.75% | 0.85% | 0.90% | 1.72% |
| Munster | 1.12% | 1.22% | 1.25% | 1.27% | 1.36% |
| New Chicago | 0.78% | 1.11% | 1.41% | 2.88% | 3.04% |
| Saint John | 0.82% | 0.93% | 1.00% | 1.10% | 1.16% |
| Schererville | 0.72% | 0.82% | 0.90% | 0.99% | 1.10% |
| Schneider | 0.48% | 0.70% | 0.93% | 1.62% | 1.89% |
| Shelby | 0.41% | 0.53% | 0.75% | 1.60% | 1.62% |
| Whiting | 0.80% | 0.94% | 1.24% | 1.30% | 2.56% |
| Winfield | 1.05% | 1.11% | 1.30% | 1.53% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Lake County, Indiana
In Lake County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Lake County Appraisal District. The assessed value, however, 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. Assessment notices in Lake County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Winfield has the highest median tax bill at $4,517, while Gary has the lowest at $733. Being aware of these valuation processes in Lake County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Lake County Assessed Value
$187,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cedar Lake | $108,120 | $171,000 | $249,600 | $322,300 | $399,840 |
| Crown Point | $173,600 | $217,500 | $280,000 | $367,500 | $470,800 |
| Dyer | $196,930 | $239,700 | $299,200 | $380,225 | $468,770 |
| East Chicago | $50,930 | $67,025 | $85,400 | $112,100 | $145,800 |
| Fishers | $131,200 | $131,200 | $131,200 | $131,200 | $131,200 |
| Gary | $18,200 | $34,300 | $46,700 | $71,700 | $122,600 |
| Griffith | $137,500 | $173,300 | $203,800 | $239,500 | $289,000 |
| Hammond | $82,200 | $101,000 | $124,300 | $152,700 | $184,400 |
| Hebron | $175,000 | $254,100 | $326,700 | $418,250 | $520,500 |
| Highland | $160,700 | $191,100 | $225,750 | $259,500 | $301,990 |
| Hobart | $104,500 | $135,300 | $175,100 | $223,950 | $281,400 |
| Lake Station | $60,600 | $74,500 | $97,500 | $129,700 | $160,600 |
| Leroy | $54,080 | $93,850 | $147,700 | $203,300 | $253,800 |
| Lowell | $168,940 | $200,700 | $257,000 | $335,000 | $415,820 |
| Merrillville | $118,300 | $148,500 | $181,500 | $225,100 | $279,000 |
| Munster | $173,700 | $229,600 | $288,100 | $379,750 | $524,400 |
| New Chicago | $60,140 | $82,350 | $106,100 | $132,500 | $161,540 |
| Saint John | $262,100 | $311,700 | $377,900 | $464,800 | $593,800 |
| Schererville | $190,840 | $228,600 | $291,500 | $362,500 | $440,800 |
| Schneider | $20,860 | $71,075 | $113,000 | $147,975 | $190,670 |
| Shelby | $30,250 | $66,750 | $99,400 | $148,650 | $186,100 |
| Whiting | $110,660 | $131,300 | $158,300 | $189,400 | $223,900 |
| Winfield | $133,030 | $212,725 | $411,300 | $682,275 | $892,290 |
Source: Ownwell
Property Tax Bills Across Lake County, Indiana
In Lake County, Indiana, 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 arrive at the annual tax bill. Homeowners in Lake County see a range of tax bills due to variations in property values and local tax rates. For instance, the median home price in the county is $187,400. Tax bills can vary significantly, with the 25th percentile at $1,195 and the 75th percentile at $3,042. At the higher end, the 90th percentile tax bill reaches $4,274. The highest median tax bill in the county is found in Winfield at $4,517, while Gary has the lowest median tax bill at $733. These variations can have a substantial impact on homeowners, influencing their monthly budgets and overall financial planning. Compared to the national median property tax rate of 0.99%, Lake County's rates and assessed values offer a diverse range of tax obligations for its residents.
Average Lake County Tax Bill
$2,011
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cedar Lake | $942 | $1,734 | $2,688 | $3,621 | $4,665 |
| Crown Point | $1,519 | $2,049 | $2,761 | $3,910 | $5,140 |
| Dyer | $1,769 | $2,453 | $3,268 | $4,336 | $5,482 |
| East Chicago | $409 | $681 | $1,017 | $1,422 | $1,820 |
| Fishers | $1,820 | $1,820 | $1,820 | $1,820 | $1,820 |
| Gary | $141 | $395 | $733 | $1,122 | $1,661 |
| Griffith | $1,293 | $1,837 | $2,219 | $2,733 | $3,476 |
| Hammond | $911 | $1,315 | $1,760 | $2,405 | $3,125 |
| Hebron | $1,293 | $1,918 | $2,845 | $4,189 | $5,426 |
| Highland | $1,322 | $1,711 | $2,099 | $2,554 | $3,264 |
| Hobart | $1,126 | $1,567 | $2,081 | $2,666 | $3,359 |
| Lake Station | $591 | $911 | $1,375 | $1,873 | $2,443 |
| Leroy | $211 | $584 | $1,343 | $1,956 | $3,117 |
| Lowell | $1,336 | $1,807 | $2,415 | $3,223 | $4,082 |
| Merrillville | $821 | $1,173 | $1,610 | $2,151 | $2,840 |
| Munster | $2,149 | $2,960 | $3,697 | $5,048 | $6,847 |
| New Chicago | $473 | $900 | $1,569 | $2,506 | $3,140 |
| Saint John | $2,181 | $2,922 | $3,785 | $4,829 | $6,288 |
| Schererville | $1,418 | $1,938 | $2,683 | $3,548 | $4,573 |
| Schneider | $216 | $523 | $1,023 | $1,490 | $2,177 |
| Shelby | $227 | $422 | $823 | $1,348 | $2,048 |
| Whiting | $1,131 | $1,489 | $1,901 | $2,526 | $3,462 |
| Winfield | $1,767 | $2,317 | $4,517 | $8,575 | $12,471 |
Source: Ownwell