French Lick, Orange County, Indiana Property Taxes
The median property tax rate in French Lick, IN is 0.75%, 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 French Lick at $108,100, the typical annual property tax bill is $840, well below the national median of $2,690. Property taxes in French Lick 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 French Lick'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 French Lick 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
French Lick, Orange County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$811
$752
Ownwell’s French Lick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in French Lick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in French Lick 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 French Lick, Orange County, Indiana
Property taxes in French Lick, Indiana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in French Lick is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within French Lick set these rates annually, and they can vary significantly across different neighborhoods. Each year, French Lick 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 French Lick's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47432 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with French Lick provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average French Lick Tax Rate
0.75%
Average Orange County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across French Lick, Orange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47432 | 0.36% | 0.56% | 0.75% | 1.37% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across French Lick, Orange County, Indiana
In French Lick, 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 Orange County Assessor's office 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 French Lick, 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 French Lick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 47432 has both the highest and lowest median tax bill, valued at $840.
Property Tax Assessment Values Across French Lick, Orange County, Indiana
Source: Ownwell
$75,900
$107,350
$138,800
Average French Lick Assessed Value
$108,100
Average Orange County Assessed Value
$102,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across French Lick, Orange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47432 | $21,500 | $60,225 | $108,100 | $164,325 | $231,840 |
Source: Ownwell
Property Tax Bills Across French Lick, Orange County, Indiana
In French Lick, property tax bills are determined by assessing the property's market value and applying the local tax rate set by Orange County. The median home price in French Lick is $108,100, which serves as the basis for calculating the tax bill. Various factors influence the final tax amount, including the property's assessed value, applicable exemptions, and the specific tax rate for the area. Homeowners in French Lick generally experience a range of property tax bills, with the 25th percentile at $392 and the 75th percentile reaching $1,507. At the 90th percentile, tax bills can be as high as $2,259. The median tax bill in French Lick, regardless of the neighborhood, stands at $840, which is significantly below the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable, but it also means that local services funded by property taxes might have different levels of support compared to areas with higher tax rates.
Average French Lick Tax Bill
$840
Average Orange County Tax Bill
$783
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across French Lick, Orange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47432 | $165 | $392 | $840 | $1,507 | $2,259 |
Source: Ownwell