Mitchell, Lawrence County, Indiana Property Taxes
Median MITCHELL, IN effective property tax rate: 0.77%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median MITCHELL, IN home value: $112,950
Median annual MITCHELL, IN tax bill: $891, $1,509 lower than the national median property tax bill of $2,400.
How are property taxes in Lawrence calculated?
Property taxes in MITCHELL, 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 MITCHELL’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in MITCHELL, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mitchell, Lawrence County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.77%
Estimate Property Tax Bill
$870
$807
Property Tax Rates Across Mitchell, Lawrence County, Indiana
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its budgetary needs for providing services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although voting and legislation play roles in setting tax rates and budgets, this is the basic annual process.
In Mitchell, located in Lawrence County, Indiana, the effective property tax rate is 0.77%, which is notably lower than the national median property tax rate of 1.02%. This makes property ownership in Mitchell more affordable compared to other regions across the country. The property tax rate here is consistent throughout the county, ensuring uniformity in tax assessments. When compared to other cities in Indiana, Mitchell's tax rate is competitive, offering residents a financially appealing option for property investment. This favorable tax climate can be an attractive factor for those considering relocating or investing in property in the area.
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 Mitchell Tax Rate
0.77%
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 Mitchell, Lawrence County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47446 | 0.38% | 0.58% | 0.77% | 1.13% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Mitchell, Lawrence County, Indiana
When examining property taxes in Mitchell, 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 Lawrence 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 Lawrence County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Mitchell. For example, the median home price in Mitchell is $112,950, with tax bills ranging significantly across the county. 47446 has the highest median home price at $112,950.
Property Tax Assessment Values Across Mitchell, Lawrence County, Indiana
Source: Ownwell
$21,700
$89,450
$157,200
Median Mitchell Market Value
$112,950
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 Mitchell, Lawrence County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47446 | $34,300 | $73,175 | $112,950 | $166,250 | $232,900 |
Source: Ownwell
Property Tax Bills Across Mitchell, Lawrence County, Indiana
In Mitchell, located in Lawrence County, IN, property tax bills are determined based on the assessed value of a home, which reflects its market value. Homeowners in this area experience property tax bills with a median value of $891, which is significantly below the national median property tax bill of $2400. The tax rate and assessed value are pivotal in calculating the final bill. Factors influencing the tax bill include property size, location, and improvements. For homeowners, these taxes can represent a substantial annual expense, impacting financial planning and home affordability.
Ownwell offers invaluable assistance to homeowners by providing property tax appeal services, ensuring that the assessed value of their property is fair and accurate. By analyzing market trends and comparable property values, Ownwell can identify potential savings opportunities. This expert guidance can lead to significant reductions in tax bills, providing financial relief and enhancing overall property investment value. Partnering with Ownwell means homeowners can confidently navigate the complexities of property tax assessments and secure potential savings.
Median Mitchell Tax Bill
$891
Median Lawrence County Tax Bill
$1,042
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Mitchell, Lawrence County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47446 | $245 | $477 | $891 | $1,444 | $2,224 |
Source: Ownwell
