Kingsbury, Indiana Property Taxes
The median property tax rate in Kingsbury, IN is 0.93%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Kingsbury at $98,400, the typical annual property tax bill amounts to $785, which is significantly lower than the national median of $2,690. Property taxes in Kingsbury are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Kingsbury'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 Kingsbury or another part of LaPorte County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kingsbury, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$915
Ownwell’s Kingsbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingsbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingsbury 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 Kingsbury, Indiana
Property taxes in Kingsbury, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingsbury is 0.93%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Kingsbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingsbury 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 Kingsbury's effective property tax rate to other areas in Indiana and the national median. For comparison, the ZIP code 46345 has the highest median property tax rate of 0.93%, which is the same as the lowest median tax rate in the same ZIP code. Understanding how these areas compare with Kingsbury provides valuable insights into the varying tax landscape across LaPorte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kingsbury Tax Rate
0.93%
Average Laporte County Tax Rate
1.00%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingsbury, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46345 | 0.51% | 0.65% | 0.93% | 1.36% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Kingsbury, Indiana
In Kingsbury, 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 LaPorte 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 Kingsbury, 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. The median home price in Kingsbury is $98,400, with tax bills ranging from $506 at the 25th percentile to $1,603 at the 90th percentile. The highest median tax bill in the area is $785, found in zip code 46345, which also has the lowest median tax bill. 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 Kingsbury Assessed Value
$98,400
Average Laporte County Assessed Value
$136,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kingsbury, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46345 | $28,900 | $70,775 | $98,400 | $128,650 | $148,350 |
Source: Ownwell
Property Tax Bills Across Kingsbury, Indiana
In Kingsbury, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This value is influenced by factors such as the home's market value, location, and any improvements made to the property. Once the assessed value is established, the tax rate set by LaPorte County is applied. Homeowners in Kingsbury can expect a range of property tax bills, with the 25th percentile at $506 and the 75th percentile reaching $1,283. For those at the 90th percentile, the tax bill can go up to $1,603. The median home price in Kingsbury is $98,400, which provides context for these figures. Compared to the national median property tax rate of 0.99%, Kingsbury's tax rates reflect the local economic conditions and funding needs for public services. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Kingsbury Tax Bill
$785
Average Laporte County Tax Bill
$1,442
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingsbury, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46345 | $371 | $506 | $785 | $1,283 | $1,603 |
Source: Ownwell