46176 Property Tax Rate

Property owners in ZIP code 46176 (Shelbyville, Indiana) pay a median of $1,347/year in property taxes on homes valued at $172,400. This translates to an effective tax rate of 0.78%, which is 13% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46176 is approximately $112, which factors into escrow payments on mortgages. This ZIP code is located within Shelby County.

Compared to similar ZIP codes in Indiana, 46176 has higher property taxes. ZIP codes with similar effective rates include 47303 (0.78%) and 47441 (0.78%).

In Shelbyville, property taxes represent approximately 2.0% of the median household income of $66,045, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses residential property at market value upon purchase with no state-imposed annual growth cap thereafter. Shelby County homeowners may apply for the Homestead Property Tax Deduction to reduce assessed value — complete Form 136 and file it with the Shelby County Assessor. File your exemption claim with the Shelby County Assessor promptly after closing and verify your initial assessment against the purchase price.