46160 Property Tax Rate

Property owners in ZIP code 46160 (Morgantown, Indiana) pay a median of $1,078/year in property taxes on homes valued at $237,600. This translates to an effective tax rate of 0.45%, which is 35% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46160 is approximately $90, which factors into escrow payments on mortgages. This ZIP code is located within Brown County.

Compared to similar ZIP codes in Indiana, 46160 has lower property taxes. ZIP codes with similar effective rates include 46776 (0.45%) and 46392 (0.46%).

In Morgantown, property taxes represent approximately 1.5% of the median household income of $72,003, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses at full market value when property transfers, with no state cap on annual increases after purchase. Brown County offers the Homestead Property Tax Deduction to reduce assessed value for owner-occupied homes — file Form 136 with the Brown County Assessor. Submit your exemption application to the Brown County Assessor early in your first tax year as an owner and verify the reassessment in your initial Notice of Assessment.