Silver Lake, Fulton County, Indiana Property Taxes
Median Silver Lake, Indiana effective property tax rate: 0.79%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%. Median Silver Lake, Indiana home value: $114,100. Median annual Silver Lake, Indiana tax bill: $920, $1,480 lower than the national median property tax bill of $2,400.
How are property taxes in Fulton County calculated?
Property taxes in Silver Lake, Indiana 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 Silver Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Silver Lake, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Silver Lake, Fulton County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.79%
Estimate Property Tax Bill
$901
$836
Property Tax Rates Across Silver Lake, Fulton 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. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Silver Lake’s effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S. Silver Lake, nestled in Kosciusko County, offers a property tax rate that aligns with the county's needs while remaining competitive within the state. Indiana's median property tax rate is lower than the national median, making it an attractive option for property owners. This favorable tax landscape not only benefits residents but also appeals to potential investors seeking to maximize their returns. As you explore property opportunities in Silver Lake, consider how the local tax rate can impact your financial planning and long-term investment strategy. Understanding these nuances can empower you to make informed decisions, ensuring that your property investments align with your financial goals.
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 Silver Lake Tax Rate
0.79%
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 Fulton County Tax Rate
0.68%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Silver Lake, Fulton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46982 | 0.37% | 0.49% | 0.79% | 1.34% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Silver Lake, Fulton County, Indiana
When examining property taxes in Silver Lake, Indiana, 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 Fulton 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 Fulton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Silver Lake. For example, the median home price in Silver Lake is $114,100, with tax bills ranging significantly across the county. Zip code 46982 has the highest median home price at $114,100.
Property Tax Assessment Values Across Silver Lake, Fulton County, Indiana
Source: Ownwell
$46,900
$119,225
$191,550
Median Silver Lake Market Value
$114,100
Median Fulton County Market Value
$110,800
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Silver Lake, Fulton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46982 | $8,700 | $51,300 | $114,100 | $196,700 | $225,500 |
Source: Ownwell
Property Tax Bills Across Silver Lake, Fulton County, Indiana
Median Silver Lake Tax Bill
$920
Median Fulton County Tax Bill
$797
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Silver Lake, Fulton County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46982 | $92 | $198 | $920 | $1,536 | $2,169 |
Source: Ownwell