Lagrange, Lagrange County, Indiana Property Taxes
The median property tax rate in LaGrange, IN is 0.57%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in LaGrange at $179,000, the typical annual property tax bill is $1,047, well below the national median of $2,690. Property taxes in LaGrange are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding LaGrange's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of LaGrange 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
Lagrange, Lagrange County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,020
$947
Ownwell’s LaGrange Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in LaGrange with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LaGrange 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 Lagrange, Lagrange County, Indiana
Property taxes in LaGrange, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LaGrange stands at 0.57%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within LaGrange set these rates annually, and they can vary across different neighborhoods. Each year, LaGrange 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 LaGrange's effective property tax rate to other counties and the national median. For comparison, the 46761 zip code has both the highest and lowest median property tax rate in LaGrange, at 0.57%. Understanding how these rates compare with LaGrange 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 Lagrange Tax Rate
0.57%
Average Lagrange County Tax Rate
0.63%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lagrange, Lagrange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46761 | 0.30% | 0.39% | 0.57% | 0.86% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Lagrange, Lagrange County, Indiana
In LaGrange, 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 LaGrange, 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 LaGrange helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 46761 has the highest median tax bill of $1,047.
Property Tax Assessment Values Across Lagrange, Lagrange County, Indiana
Source: Ownwell
$100,300
$261,850
$423,400
Average Lagrange Assessed Value
$179,000
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 Lagrange, Lagrange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46761 | $53,600 | $113,925 | $179,000 | $297,825 | $454,120 |
Source: Ownwell
Property Tax Bills Across Lagrange, Lagrange County, Indiana
Property tax bills in LaGrange, IN, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $179,000, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. The tax bill can range significantly: the 25th percentile tax bill is $554, while the 75th percentile reaches $1,810, and the 90th percentile climbs to $2,911. These figures highlight the variability in property taxes within the area. The highest and lowest median tax bills in LaGrange are both $1,047, indicating a relatively consistent tax rate across different zip codes. Understanding these factors can help homeowners budget accordingly and anticipate their annual property tax obligations. Compared to the national median property tax rate of 0.99%, LaGrange's tax rates offer a perspective on local tax burdens relative to national averages.
Average Lagrange Tax Bill
$1,047
Average Lagrange County Tax Bill
$1,119
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Lagrange, Lagrange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46761 | $257 | $554 | $1,047 | $1,810 | $2,911 |
Source: Ownwell