46063 Property Tax Rate

Property owners in ZIP code 46063 (Orestes, Indiana) pay a median of $459/year in property taxes on homes valued at $86,300. This translates to an effective tax rate of 0.53%, which is 23% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46063 is approximately $38, which factors into escrow payments on mortgages. This ZIP code is located within Madison County. This is $792 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46063 has higher property taxes. ZIP codes with similar effective rates include 46120 (0.53%) and 46785 (0.53%).

In Orestes, property taxes represent approximately 0.8% of the median household income of $56,250, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 46063, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Madison County's tax assessor directly.