Huron, Indiana Property Taxes
The median property tax rate in Huron, IN is 0.77%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Huron at $47,000, the typical annual property tax bill is $366, significantly below the national median of $2,690. Property taxes in Huron 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 Huron'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 Huron or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Huron, 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 Huron Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with an easy way to estimate their annual property taxes in Huron. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Huron to give you a clear picture of your potential property tax bill. This valuable tool helps you understand your tax liabilities and plan accordingly. For those interested in more granular insights, scrolling down reveals neighborhood-level trends. Your property’s assessed value, determined by Lawrence County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Huron, Indiana
Property taxes in Huron, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huron is 0.77%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Huron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huron 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 Huron's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47437 zip code has the highest median property tax rate of 0.77%, while the same 47437 zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Huron provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huron Tax Rate
0.77%
Average Lawrence County Tax Rate
0.81%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huron, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47437 | 0.38% | 0.45% | 0.77% | 1.47% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Huron, Indiana
In Huron, 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 Lawrence 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 Huron, 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 Huron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Huron, the median home price is $47,000, with the highest median tax bill being $366.00 in zip code 47437. The lowest median tax bill is also $366.00 in the same zip code.
Average Huron Assessed Value
$47,000
Average Lawrence County Assessed Value
$124,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Huron, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47437 | $5,500 | $23,550 | $47,000 | $86,650 | $113,900 |
Source: Ownwell
Property Tax Bills Across Huron, Indiana
In Huron, Lawrence County, IN, property tax bills are determined based on the assessed value of a home, which is influenced by the median home price of $47,000. The local tax rate is applied to this assessed value to calculate the annual tax bill. Several factors contribute to the final tax amount, including property size, location, and any applicable exemptions. Homeowners in Huron experience a range of property tax bills. For example, the tax bill at the 25th percentile is $122, while at the 75th percentile, it rises to $679. Those at the 90th percentile see tax bills as high as $1,240. The highest median tax bill in the area is $366, found in the zip code 47437. These property tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, the tax rates in Huron are relatively modest, providing some relief to local homeowners.
Average Huron Tax Bill
$366
Average Lawrence County Tax Bill
$1,042
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Huron, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47437 | $66 | $122 | $366 | $679 | $1,240 |
Source: Ownwell