North Liberty, Indiana Property Taxes
The median property tax rate in North Liberty, IN is 1.02%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in North Liberty at $163,500, the typical annual property tax bill reaches $1,762, which is below the national median of $2,690. Property taxes in North Liberty are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding North Liberty'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 North Liberty 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
North Liberty, 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 North Liberty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Liberty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Liberty 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 North Liberty, Indiana
Property taxes in North Liberty, Indiana, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in North Liberty is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within North Liberty set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Liberty 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 North Liberty's effective property tax rate to other areas in Indiana and the national median. For comparison, the 46554 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these areas compare with North Liberty 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 North Liberty Tax Rate
1.02%
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 North Liberty, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46554 | 0.79% | 0.97% | 1.02% | 1.25% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across North Liberty, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in North Liberty, Indiana. 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 Assessment 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 North Liberty, 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. The highest and lowest median tax bills in North Liberty are both $1,762, found in the 46554 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average North Liberty Assessed Value
$163,500
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 North Liberty, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46554 | $80,750 | $124,725 | $163,500 | $215,400 | $267,800 |
Source: Ownwell
Property Tax Bills Across North Liberty, Indiana
In North Liberty, located in St. Joseph County, IN, property tax bills are calculated based on the assessed value of the property, which is derived from the market value. Homeowners in this region face a median property tax rate of 0.99%, aligning with the national median. The tax bill is influenced by several factors, including the property's assessed value, local tax rates, and applicable exemptions. For instance, the median home price in North Liberty stands at $163,500, leading to varying tax bills across different percentiles. At the 25th percentile, homeowners might pay around $1,290, while those in the 75th percentile could see bills as high as $2,436. The 90th percentile tax bill can reach up to $3,289. These variations significantly impact homeowners, as higher assessed values translate to higher tax obligations. The highest and lowest median tax bills in the area are both recorded at $1,762, highlighting some consistency in tax assessments within the specific zip code 46554. Understanding these factors helps homeowners anticipate their annual property tax expenses.
Average North Liberty Tax Bill
$1,762
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 North Liberty, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46554 | $880 | $1,290 | $1,762 | $2,436 | $3,289 |
Source: Ownwell