French Lick, Martin County, Indiana Property Taxes

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

Median French Lick, IN effective property tax rate: 0.58%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median French Lick, IN home value: $98,600
Median annual French Lick, IN tax bill: $591, $1,809 lower than the national median property tax bill of $2,400.

How are property taxes in Martin County calculated?

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

Last Updated March 1, 2025

French Lick, Martin County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.58%

Estimate Property Tax Bill

$572

$531

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

Property Tax Rates Across French Lick, Martin County, Indiana

Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate their budgets to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While setting these rates and budgets involves votes and legislation, this is the annual process in a nutshell.

In French Lick, located in Martin County, the effective property tax rate reflects this process. The city's tax rate is a key factor for homeowners and prospective buyers to consider when evaluating the cost of living. With a median property tax rate of 0.58%, French Lick's rate is notably lower than the national median of 1.02%. This can result in significant savings on annual property tax bills compared to the national median of $2400. Understanding these rates and how they compare within Indiana and across the U.S. is essential for making informed property decisions.

Property Tax Rates Across French Lick, Martin County, Indiana

Source: Ownwell

0.58%

1.25%

1.92%

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 French Lick Tax Rate

0.58%

Median Effective Martin County Tax Rate

0.65%

Median Effective Indiana Tax Rate

0.99%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across French Lick, Martin County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
47432	0.35%	0.45%	0.58%	1.30%	1.43%

Source: Ownwell

Property Tax Assessment Values Across French Lick, Martin County, Indiana

When examining property taxes in French Lick, 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 Martin County appraisal district 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 Martin 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 French Lick. For example, the median home price in French Lick is $98,600, with tax bills ranging significantly across the county. ZIP code 47432 has the highest median home price at $98,600.

Property Tax Assessment Values Across French Lick, Martin County, Indiana

Source: Ownwell

$33,800

$148,400

$263,000

Median French Lick Market Value

$98,600

Median Martin County Market Value

$107,600

Median Indiana Market Value

$170,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across French Lick, Martin County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
47432	$22,580	$54,350	$98,600	$146,600	$182,220

Source: Ownwell

Property Tax Bills Across French Lick, Martin County, Indiana

In French Lick, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in French Lick, the median home price is $98,600, and the median property tax bill is around $591. This is significantly lower than the national median property tax bill of $2,400, reflecting the relatively low property tax rates in the area. Factors influencing the tax bill include changes in assessed home value and local tax rate adjustments. Homeowners can find relief through property tax appeals and exemptions, potentially reducing their financial burden. Ownwell assists homeowners by identifying opportunities for tax savings, providing expert guidance on filing appeals, and ensuring that homeowners pay only their fair share. With Ownwell's support, French Lick homeowners can effectively navigate the complexities of property taxes and potentially save on their annual tax bills.

Property Tax Bills Across French Lick, Martin County, Indiana

Source: Ownwell

$482

$1,155

$1,828

Median French Lick Tax Bill

$591

Median Martin County Tax Bill

$728

Median Indiana Tax Bill

$1,691

Median United States Tax Bill

$2,400

Property Tax Bills Across French Lick, Martin County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
47432	$208	$367	$591	$985	$1,627

Source: Ownwell