46175 Property Tax Rate

Property owners in ZIP code 46175 (Russellville, Indiana) pay a median of $1,198/year in property taxes on homes valued at $160,700. This translates to an effective tax rate of 0.75%, which is 7% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46175 is approximately $100, which factors into escrow payments on mortgages. This ZIP code is located within Putnam County.

Compared to similar ZIP codes in Indiana, 46175 has higher property taxes. ZIP codes with similar effective rates include 47150 (0.74%) and 47335 (0.74%).

In Russellville, property taxes represent approximately 1.7% of the median household income of $72,143, 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.