46105 Property Tax Rate

Property owners in ZIP code 46105 (Bainbridge, Indiana) pay a median of $730/year in property taxes on homes valued at $224,200. This translates to an effective tax rate of 0.33%, which is 53% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46105 is approximately $61, which factors into escrow payments on mortgages. This ZIP code is located within Putnam County. This is $521 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46105 has lower property taxes. ZIP codes with similar effective rates include 47020 (0.33%) and 46799 (0.32%).

In Bainbridge, property taxes represent approximately 0.8% of the median household income of $92,946, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses property at full market value when purchased, with no state cap on future annual increases. Putnam County recognizes the Homestead Property Tax Deduction for owner-occupied homes — complete Form 136 and file it with the Putnam County Assessor to reduce your taxable assessed value. Contact the Putnam County Assessor's office to submit your Form 136 and confirm the deduction has been applied to your property.