Bedford, Lawrence County, Indiana Property Taxes
Median Bedford, IN effective property tax rate: 0.87%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Bedford, IN home value: $128,100
Median annual Bedford, IN tax bill: $1,129, $1,271 lower than the national median property tax bill of $2,400.
How are property taxes in Lawrence calculated?
Property taxes in Bedford, 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 Bedford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bedford, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bedford, Lawrence County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.87%
Estimate Property Tax Bill
$1,114
$1,034
Property Tax Rates Across Bedford, Lawrence County, Indiana
Local government entities, like those in Bedford, Indiana, set tax rates that can vary significantly within the state. This variation occurs because each county, including Lawrence County, estimates its required budget annually to provide essential services. The county then divides this budget by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws influence the setting of tax rates and budgets, this is essentially the annual process.
Bedford's effective property tax rate offers an interesting comparison to other cities in Indiana and the broader U.S. While the national median property tax rate stands at 1.02%, Bedford's rate is notably different. This difference highlights the importance of understanding local tax rates, especially when they can significantly impact property owners. By comparing Bedford's property tax rate to the national median, property owners can better assess their tax obligations and explore potential savings through appeals or exemptions. Understanding these nuances is key to ensuring fair taxation and managing property-related expenses effectively.
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 Bedford Tax Rate
0.87%
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 Lawrence County Tax Rate
0.81%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bedford, Lawrence County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47421 | 0.41% | 0.64% | 0.87% | 1.11% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Bedford, Lawrence County, Indiana
When examining property taxes in Bedford, 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 Lawrence County Assessor 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.
Assessment notices in Lawrence County 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 Bedford. For example, the median home price in Bedford is $128,100, with tax bills ranging significantly across the county. ZIP code 47421 has the highest median home price at $128,100.
Property Tax Assessment Values Across Bedford, Lawrence County, Indiana
Source: Ownwell
$21,700
$89,450
$157,200
Median Bedford Market Value
$128,100
Median Lawrence County Market Value
$124,900
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bedford, Lawrence County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47421 | $46,720 | $84,300 | $128,100 | $190,400 | $276,380 |
Source: Ownwell
Property Tax Bills Across Bedford, Lawrence County, Indiana
Median Bedford Tax Bill
$1,129
Median Lawrence County Tax Bill
$1,042
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Bedford, Lawrence County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47421 | $284 | $594 | $1,129 | $1,791 | $2,738 |
Source: Ownwell