Lake Village, Newton County, Indiana Property Taxes
Median LAKE VILLAGE, IN effective property tax rate: 0.99%, slightly lower than the national median of 1.02%, but matches the Indiana state median of 0.99%.
Median LAKE VILLAGE, IN home value: $190,000
Median annual LAKE VILLAGE, IN tax bill: $1,914, $486 lower than the national median property tax bill of $2,400.
How are property taxes in Newton calculated?
Property taxes in LAKE VILLAGE, IN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding LAKE VILLAGE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in LAKE VILLAGE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake Village, Newton County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$1,881
$1,746
Property Tax Rates Across Lake Village, Newton County, Indiana
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Lake Village, located in Newton County, Indiana, the effective property tax rate is a reflection of this process. The median property tax rate in Indiana is 0.99%, slightly below the national median of 1.02%. Lake Village's rate aligns with this state median, offering a competitive landscape for property owners.
When comparing Lake Village to other cities in Indiana, it's evident that the property tax rate is consistent with the state's overall trend. This consistency provides stability for property owners, ensuring predictable tax obligations. Additionally, understanding how local rates compare to the national median can help property owners make informed decisions about their investments.
By choosing Lake Village, property owners benefit from a tax rate that is competitive both within the state and nationally, making it an attractive option for those looking to optimize their property investments.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lake Village Tax Rate
0.99%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Newton County Tax Rate
0.94%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Village, Newton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46349 | 0.57% | 0.81% | 0.99% | 1.18% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Lake Village, Newton County, Indiana
When examining property taxes in LAKE VILLAGE, IN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Newton County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Newton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in LAKE VILLAGE. For example, the median home price in LAKE VILLAGE is $190,000, with tax bills ranging significantly across the county. 46349 has the highest median home price at $190,000.
Property Tax Assessment Values Across Lake Village, Newton County, Indiana
Source: Ownwell
$51,450
$148,925
$246,400
Median Lake Village Market Value
$190,000
Median Newton County Market Value
$139,700
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Village, Newton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46349 | $82,600 | $139,900 | $190,000 | $272,900 | $357,680 |
Source: Ownwell
Property Tax Bills Across Lake Village, Newton County, Indiana
In Lake Village, Newton County, Indiana, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local assessor, who evaluates factors such as the property's market value, size, and location. Homeowners in Lake Village typically face a property tax rate that results in a median tax bill of approximately $1,914, which is below the national median of $2,400. However, tax bills can vary significantly, with some homeowners paying as little as $1,186 or as much as $4,204, depending on their property's assessed value and applicable exemptions.
For homeowners looking to reduce their property tax bills, Ownwell offers expert property tax appeal and exemption services. By leveraging local knowledge and specialized expertise, Ownwell identifies opportunities to challenge assessments and secure exemptions, potentially saving homeowners hundreds or even thousands of dollars annually. With Ownwell's assistance, homeowners can ensure they are not overpaying on their property taxes and can better manage their financial obligations.
Median Lake Village Tax Bill
$1,914
Median Newton County Tax Bill
$1,323
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Village, Newton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46349 | $614 | $1,186 | $1,914 | $2,973 | $4,204 |
Source: Ownwell