Lake Station, Lake County, Indiana Property Taxes

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

Median Lake Station, IN effective property tax rate: 1.16%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Lake Station, IN home value: $97,500
Median annual Lake Station, IN tax bill: $1,375, $1,025 lower than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

Lake Station, Lake County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.16%

Estimate Property Tax Bill

$1,131

$1,050

Ownwell’s Lake Station Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake Station with just two data points. By entering your property's estimated assessed value, our calculator applies Lake Station’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 Lake County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lake Station, Lake County, Indiana

Local government entities in Indiana set property tax rates, resulting in significant variations across the state. Each year, counties like Lake estimate their budgetary needs to provide essential services and divide this by the total value of all taxable property within their jurisdiction, determining the property tax rate. While the process involves votes and laws, this is the annual routine. In Lake Station, located in Lake County, the effective property tax rate stands at 1.16%, which is notably higher than the national median of 1.02%. This means that residents in Lake Station may find themselves paying more in property taxes compared to the average American homeowner. The median property tax rate in Indiana aligns with Lake Station’s rate, making it one of the higher rates in the state. For property owners in Lake Station, understanding these rates and how they compare to both state and national averages can be crucial in managing their financial planning and exploring potential property tax appeal or exemption opportunities.

Property Tax Rates Across Lake Station, Lake County, Indiana

Source: Ownwell

0.75%

1.52%

2.29%

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 Lake Station Tax Rate

1.16%

Median Effective Lake County Tax Rate

1.07%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lake Station, Lake County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
46405	0.80%	1.05%	1.16%	2.27%	2.83%

Source: Ownwell

Property Tax Assessment Values Across Lake Station, Lake County, Indiana

When examining property taxes in Lake Station, 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 Lake 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 Lake 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 Lake Station. For example, the median home price in Lake Station is $97,500, with tax bills ranging significantly across the county. ZIP code 46405 has the highest median home price at $97,500.

Property Tax Assessment Values Across Lake Station, Lake County, Indiana

Source: Ownwell

$36,700

$207,300

$377,900

Median Lake Station Market Value

$97,500

Median Lake County Market Value

$187,400

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lake Station, Lake County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
46405	$60,600	$74,500	$97,500	$129,700	$160,600

Source: Ownwell

Property Tax Bills Across Lake Station, Lake County, Indiana

In Lake Station, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. For homeowners, the median home price is $97,500, with property tax bills ranging from $911 at the 25th percentile to $2,443 at the 90th percentile. The median tax bill in the area is $1,375, which is below the national median of $2,400. The property tax rate in Lake County plays a crucial role in determining these bills, impacting homeowners' financial planning and budgeting. Factors such as changes in assessed value and local tax rates can cause fluctuations in tax bills, affecting homeowners' expenses.

Ownwell offers valuable assistance to homeowners in Lake Station by providing property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners potentially reduce their tax liabilities. This service is particularly beneficial in ensuring that homeowners are not overpaying and are only paying their fair share, ultimately leading to significant savings on their property tax bills.

Property Tax Bills Across Lake Station, Lake County, Indiana

Source: Ownwell

$542

$2,164

$3,785

Median Lake Station Tax Bill

$1,375

Median Lake County Tax Bill

$2,011

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across Lake Station, Lake County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
46405	$591	$911	$1,375	$1,873	$2,443

Source: Ownwell