Mishawaka, Indiana Property Taxes
The median property tax rate in Mishawaka, IN is 1.13%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $137,300 in Mishawaka, the typical annual property tax bill is $1,611, which is lower than the national median of $2,690. Property taxes in Mishawaka are calculated based on the assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mishawaka'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 Mishawaka or another part of St. Joseph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mishawaka, 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 Mishawaka Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mishawaka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mishawaka 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 Mishawaka, Indiana
Property taxes in Mishawaka, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mishawaka is 1.13%, which is higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Mishawaka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mishawaka 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 Mishawaka's effective property tax rate to other areas in St. Joseph County and the national median. For comparison, the 46544 zip code has the highest median property tax rate of 1.14%, while the 46545 zip code has the lowest median tax rate of 1.04%. Understanding how these areas compare with Mishawaka provides valuable insights into the varying tax landscape across St. Joseph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mishawaka Tax Rate
1.13%
Average St. Joseph County Tax Rate
1.09%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mishawaka, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46544 | 0.82% | 1.01% | 1.14% | 1.24% | 2.35% |
| 46545 | 0.72% | 0.90% | 1.04% | 1.21% | 2.35% |
| 46546 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Mishawaka, Indiana
In Mishawaka, 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 St. Joseph 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 Mishawaka, 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 Mishawaka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,888 in zip code 46546, while the lowest is $1,575 in zip code 46545.
Average Mishawaka Assessed Value
$137,300
Average St. Joseph County Assessed Value
$157,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mishawaka, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46544 | $66,300 | $99,500 | $135,600 | $190,200 | $248,500 |
| 46545 | $64,600 | $103,075 | $140,000 | $211,400 | $288,550 |
| 46546 | $277,500 | $277,500 | $277,500 | $277,500 | $277,500 |
Source: Ownwell
Property Tax Bills Across Mishawaka, Indiana
In Mishawaka, located in St. Joseph County, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors, such as property size, location, and market conditions, influence the assessed value. Homeowners in Mishawaka experience a range of property tax bills. At the 25th percentile, the tax bill is approximately $1,165, while at the 75th percentile, it rises to around $2,269. For those in the 90th percentile, the tax bill can reach up to $3,018. The highest median tax bill in the area is $2,888 in the 46546 zip code, whereas the lowest median tax bill is $1,575 in the 46545 zip code. Compared to the national median property tax rate of 0.99%, Mishawaka's property taxes can significantly impact homeowners, influencing their financial planning and housing affordability.
Average Mishawaka Tax Bill
$1,611
Average St. Joseph County Tax Bill
$1,785
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Mishawaka, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46544 | $789 | $1,186 | $1,630 | $2,250 | $2,950 |
| 46545 | $655 | $1,132 | $1,575 | $2,304 | $3,105 |
| 46546 | $2,888 | $2,888 | $2,888 | $2,888 | $2,888 |
Source: Ownwell