46072 Property Tax Rate

Property owners in ZIP code 46072 (Tipton, Indiana) pay a median of $1,168/year in property taxes on homes valued at $169,900. This translates to an effective tax rate of 0.69%, which is near the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46072 is approximately $97, which factors into escrow payments on mortgages. This ZIP code is located within Tipton County.

Compared to similar ZIP codes in Indiana, 46072 has lower property taxes. ZIP codes with similar effective rates include 46788 (0.69%) and 46806 (0.69%).

In Tipton, property taxes represent approximately 1.6% of the median household income of $75,295, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses property at full market value when it transfers, with no state-mandated annual increase cap after purchase. Tipton County recognizes the Homestead Property Tax Deduction for owner-occupied homes — file Form 136 with the Tipton County Assessor to reduce your taxable assessed value. Submit your application to the Tipton County Assessor before the assessment deadline to ensure you receive the deduction in your first tax year.