Lafayette, Tippecanoe County, Indiana Property Taxes

Name: Property Tax Bills Across Lafayette, Tippecanoe County, Indiana
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lafayette, IN effective property tax rate: 0.90%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Lafayette, IN home value: $151,000
Median annual Lafayette, IN tax bill: $1,512, $888 lower than the national median property tax bill of $2,400.

How are property taxes in Tippecanoe calculated?

Property taxes in Lafayette, 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 Lafayette’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lafayette, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lafayette, Tippecanoe County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.9%

Estimate Property Tax Bill

$1,359

$1,261

Ownwell’s Lafayette Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lafayette with just two data points. By entering your property's estimated assessed value, our calculator applies Lafayette’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Tippecanoe County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lafayette, Tippecanoe County, Indiana

Local government entities determine tax rates, which can significantly differ within a state. This variation occurs because each county annually assesses its budgetary requirements to fund services and divides this by the total assessed value of all taxable properties within its area. The result of this calculation is the property tax rate. Though votes and legislation play roles in establishing these rates and budgets, this is essentially the annual process.

Lafayette in Tippecanoe County, Indiana, serves as an example. The city's effective property tax rate can be compared to other cities in Indiana, as well as state and national medians. The median property tax rate in Indiana is 0.90%, which is below the national median of 1.02%. Lafayette's rate is influenced by its county's specific budgetary needs and the total assessed value of properties. By comparing Lafayette's rate to the highest rate in the state, which is 2.00% in the 47901 zip code, and the lowest at 0.80% in the 47905 zip code, residents can gauge where their city stands in terms of property tax obligations.

Property Tax Rates Across Lafayette, Tippecanoe County, Indiana

Source: Ownwell

0.52%

1.26%

2.00%

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 Lafayette Tax Rate

0.90%

Median Effective Tippecanoe County Tax Rate

0.90%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lafayette, Tippecanoe County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
47901	0.91%	1.00%	2.00%	2.00%	2.00%
47904	0.60%	0.78%	1.00%	2.00%	2.00%
47905	0.60%	0.68%	0.80%	1.00%	2.00%
47909	0.62%	0.72%	0.92%	1.00%	2.00%
47930	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Lafayette, Tippecanoe County, Indiana

When examining property taxes in Lafayette, 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 Tippecanoe County Assessor's Office 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 Tippecanoe 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 Lafayette.

For example, the median home price in Lafayette is $151,000, with tax bills ranging significantly across the county. Zip code 47905 has the highest median home price at $169,500.

Property Tax Assessment Values Across Lafayette, Tippecanoe County, Indiana

Source: Ownwell

$52,000

$144,800

$237,600

Median Lafayette Market Value

$151,000

Median Tippecanoe County Market Value

$169,300

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lafayette, Tippecanoe County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
47901	$58,410	$84,950	$119,550	$194,725	$273,320
47904	$61,700	$76,000	$95,350	$118,000	$143,400
47905	$80,930	$116,400	$169,500	$229,800	$325,470
47909	$93,770	$125,300	$161,300	$213,425	$296,400
47930	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Lafayette, Tippecanoe County, Indiana

In Lafayette, Tippecanoe County, IN, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the home's market value, which is determined by the county assessor. For homeowners in Lafayette, the median home price is $151,000, with property tax bills ranging from $1,022 at the 25th percentile to $2,819 at the 90th percentile. The highest median tax bill in the area is $1,932 in the 47901 zip code, while the lowest is $1,189 in the 47904 zip code. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Lafayette's property taxes can be more manageable. However, they still represent a significant expense for homeowners. Ownwell offers valuable assistance by helping homeowners appeal their property assessments and secure exemptions, potentially reducing their tax burden. By leveraging expert knowledge and experience, Ownwell can help homeowners save on their property tax bills, ensuring they only pay what is fair.

Property Tax Bills Across Lafayette, Tippecanoe County, Indiana

Source: Ownwell

$466

$1,465

$2,464

Median Lafayette Tax Bill

$1,512

Median Tippecanoe County Tax Bill

$1,655

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Lafayette, Tippecanoe County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
47901	$655	$1,335	$1,932	$2,544	$3,840
47904	$446	$757	$1,189	$1,630	$2,107
47905	$675	$1,045	$1,535	$2,140	$2,965
47909	$729	$1,133	$1,591	$2,174	$2,884
47930	N/A	N/A	N/A	N/A	N/A

Source: Ownwell