South Milford, Lagrange County, Indiana Property Taxes
Median South Milford, IN effective property tax rate: 0.30%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median South Milford, IN home value: $128,000
Median annual South Milford, IN tax bill: $398, $2,002 lower than the national median property tax bill of $2,400.
How are property taxes in LaGrange County calculated?
Property taxes in South Milford, 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 South Milford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in South Milford, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
South Milford, Lagrange County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.3%
Estimate Property Tax Bill
$384
$356
Property Tax Rates Across South Milford, Lagrange County, Indiana
Local government entities in South Milford, located in LaGrange County, Indiana, set property tax rates that can vary significantly across the state. Each year, the county estimates its required budget to provide essential services and divides that by the total assessed value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the essence of the annual process.
South Milford’s effective property tax rate can be compared to other cities in Indiana and the broader U.S. landscape. With a median property tax rate of 0.30% in LaGrange County, South Milford stands out as having a notably lower rate compared to the national median property tax rate of 1.02%. This difference highlights the potential for substantial savings for property owners in South Milford. When compared to the national median property tax bill of $2,400, residents in South Milford may enjoy a more favorable tax environment. This competitive edge in property tax rates makes South Milford an attractive location for homeowners seeking lower property tax burdens.
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 South Milford Tax Rate
0.30%
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 Lagrange County Tax Rate
0.63%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across South Milford, Lagrange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46786 | 0.19% | 0.24% | 0.30% | 0.82% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across South Milford, Lagrange County, Indiana
When examining property taxes in South Milford, 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 LaGrange 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 LaGrange 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 South Milford.
For example, the median home price in South Milford is $128,000, with tax bills ranging significantly across the county. Zip code 46786 has the highest median home price at $128,000.
Property Tax Assessment Values Across South Milford, Lagrange County, Indiana
Source: Ownwell
$100,300
$261,850
$423,400
Median South Milford Market Value
$128,000
Median Lagrange County Market Value
$195,100
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across South Milford, Lagrange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46786 | $56,900 | $102,650 | $128,000 | $150,000 | $192,880 |
Source: Ownwell
Property Tax Bills Across South Milford, Lagrange County, Indiana
Median South Milford Tax Bill
$398
Median Lagrange County Tax Bill
$1,119
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across South Milford, Lagrange County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46786 | $157 | $278 | $398 | $684 | $1,234 |
Source: Ownwell