Silver Lake, Kosciusko County, Indiana Property Taxes
Median Silver Lake, IN effective property tax rate: 0.83%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Silver Lake, IN home value: $119,100
Median annual Silver Lake, IN tax bill: $998, $1,402 lower than the national median property tax bill of $2,400.
How are property taxes in Kosciusko calculated?
Property taxes in Silver Lake, 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 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, Kosciusko County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.83%
Estimate Property Tax Bill
$989
$917
Property Tax Rates Across Silver Lake, Kosciusko 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.
In Silver Lake, located in Kosciusko County, Indiana, the effective property tax rate stands at 0.83%. This rate is notably lower than the national median property tax rate of 1.02%. Silver Lake's rate is consistent with the highest and lowest median tax rates within the county, which both stand at 0.83%. This consistency indicates a relatively uniform approach to property taxation in the area, offering predictability for property owners.
Comparatively, Indiana's median property tax rate is lower than the national average, making it an attractive option for property owners looking to minimize their tax burden. Silver Lake's effective property tax rate reflects this trend, providing a favorable environment for residents and potential property investors.
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
0.83%
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 Kosciusko County Tax Rate
0.79%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Silver Lake, Kosciusko County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46982 | 0.37% | 0.59% | 0.83% | 1.24% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Silver Lake, Kosciusko 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 Kosciusko 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 Kosciusko 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 Silver Lake.
For example, the median home price in Silver Lake is $119,100, with tax bills ranging significantly across the county. Zip code 46982 has the highest median home price at $119,100.
Property Tax Assessment Values Across Silver Lake, Kosciusko County, Indiana
Source: Ownwell
$76,200
$210,000
$343,800
Median Silver Lake Market Value
$119,100
Median Kosciusko County Market Value
$191,600
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Silver Lake, Kosciusko County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46982 | $31,760 | $70,250 | $119,100 | $189,500 | $293,980 |
Source: Ownwell
Property Tax Bills Across Silver Lake, Kosciusko County, Indiana
Median Silver Lake Tax Bill
$998
Median Kosciusko County Tax Bill
$1,442
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Silver Lake, Kosciusko County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46982 | $231 | $513 | $998 | $1,722 | $2,599 |
Source: Ownwell