46118 Property Tax Rate

Property owners in ZIP code 46118 (Clayton, Indiana) pay a median of $1,469/year in property taxes on homes valued at $248,300. This translates to an effective tax rate of 0.59%, which is 15% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46118 is approximately $122, which factors into escrow payments on mortgages. This ZIP code is located within Hendricks County. This is $218 more than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46118 has higher property taxes. ZIP codes with similar effective rates include 47577 (0.59%) and 47995 (0.59%).

In Clayton, property taxes represent approximately 1.9% of the median household income of $77,480, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses at market value upon purchase; there is no statewide annual increase cap for new owners. Hendricks County offers the Homestead Property Tax Deduction — apply to the Hendricks County Assessor using Form 136 to reduce assessed value for your primary residence. File your Form 136 claim with the Hendricks County Assessor within the first tax year of ownership and request a copy of your Notice of Assessment to verify accuracy.