Lynn, Wayne County, Indiana Property Taxes

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

Median Lynn, Indiana effective property tax rate: 1.79%, significantly higher than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Lynn, Indiana home value: $122,450
Median annual Lynn, Indiana tax bill: $1,638, $762 lower than the national median property tax bill of $2,400.

How are property taxes in Wayne calculated?

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

Last Updated March 1, 2025

Lynn, Wayne County, Indiana Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.29%

Estimate Property Tax Bill

$1,678

$1,557

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

Property Tax Rates Across Lynn, Wayne County, Indiana

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Lynn’s effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S. Lynn, located in Wayne County, has a property tax rate that aligns with the county's median rate of 1.79%. Compared to the national median property tax rate of 1.02%, Lynn's rate is significantly higher. This reflects the localized nature of property tax assessments and the specific budgetary needs of the area. While Lynn's rate matches the highest and lowest median tax rates within its zip code, it is important to consider how these rates impact the overall tax burden on property owners. Understanding these differences can help property owners make informed decisions about property tax appeals and exemptions.

Property Tax Rates Across Lynn, Wayne County, Indiana

Source: Ownwell

0.62%

0.95%

1.29%

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 Lynn Tax Rate

1.29%

Median Effective Wayne County Tax Rate

1.00%

Median Effective Indiana Tax Rate

1.01%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lynn, Wayne County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
47355	0.67%	0.84%	1.29%	2.01%	2.13%

Source: Ownwell

Property Tax Assessment Values Across Lynn, Wayne County, Indiana

When examining property taxes in Lynn, 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 Wayne 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: Wayne County sends assessment notices 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 Lynn. For example, the median home price in Lynn is $122,450, with tax bills ranging significantly across the county. 47355 has the highest median home price at $122,450.

Property Tax Assessment Values Across Lynn, Wayne County, Indiana

Source: Ownwell

$72,800

$167,000

$261,200

Median Lynn Market Value

$130,100

Median Wayne County Market Value

$103,200

Median Indiana Market Value

$186,200

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lynn, Wayne County, Indiana

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
47355	$72,910	$115,475	$130,100	$138,025	$232,130

Source: Ownwell

Property Tax Bills Across Lynn, Wayne County, Indiana

In Lynn, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in the area is $122,450, which influences the overall tax bill. The tax rate in this region is reflective of the services and infrastructure provided by the local government. Homeowners in Lynn face varying tax bills, with the 25th percentile at $1,224 and the 75th percentile reaching $2,642, indicating a range of potential financial obligations. The highest median tax bill recorded is $1,638 in the 47355 zip code. Compared to the national median property tax rate of 1.02% and a median tax bill of $2,400, Lynn residents may find their tax obligations relatively manageable, but still significant. Ownwell can assist homeowners in reducing their property tax bills by identifying potential errors in assessed values and ensuring all eligible exemptions are applied. By leveraging expert knowledge and experience, Ownwell helps clients achieve substantial savings on their property taxes, providing financial relief and peace of mind.

Property Tax Bills Across Lynn, Wayne County, Indiana

Source: Ownwell

$493

$1,735

$2,976

Median Lynn Tax Bill

$1,744

Median Wayne County Tax Bill

$1,139

Median Indiana Tax Bill

$1,964

Median United States Tax Bill

$2,400

Property Tax Bills Across Lynn, Wayne County, Indiana

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
47355	$851	$975	$1,744	$2,735	$4,371

Source: Ownwell