46227 Property Tax Rate
Indianapolis, Indiana · Part of Marion County
Effective Tax Rate
1.04%
60% above state avgMedian Annual Tax
$2,002
$167/mo escrow
Estimate Your Tax
Annual Tax
$2,002
Monthly
$167
Eff. Rate
1.04%
Buyer decision brief
What ZIP 46227 means for your housing budget
Use this ZIP page to compare recurring tax burden before you compare listing prices. The numbers below are Census ZCTA estimates, so they are strongest for neighborhood comparison and weakest for parcel-specific tax planning.
Monthly escrow signal
$167/mo
Based on median annual tax paid
State context
0.35 percentage points above the Indiana average
Indiana average: 0.69%
Data confidence
High confidenceThe Census margin of error is $118, about 6% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Marion County assessor.
- Check homestead, senior, veteran, and disability exemptions.
- Ask whether purchase triggers reassessment or value-cap reset.
- Review school district and special assessment boundaries.
Lower-rate similar ZIPs
This is informational content, not tax, legal, or mortgage advice. Local assessor records remain the source of truth for a specific property.
Data confidence ledger
Can you trust ZIP 46227 for comparison?
ACS vintage
2019-2023 ACS 5-Year Estimates
Five-year Census ZCTA estimates.
ZCTA caveat
Census area, not parcel boundary
USPS ZIP routes and taxing districts can differ inside the same area.
Field completeness
3/3 required fields
Median tax, home value, and derived rate are present.
MOE status
Strong ACS confidence
$118 tax MOE, 6% of the median tax estimate.
Last site refresh
March 10, 2026
Dataset and page-quality audit run locally before publication.
County fallback
County advisory available
Marion County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 46227
Use the ZIP estimate to compare neighborhoods, then verify these parcel-level inputs before relying on a payment estimate.
Assessed value
The ZCTA median home value is $192,600, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 1.04%, derived from median tax paid divided by median home value.
Exemptions
Homestead, senior, veteran, disability, and local exemptions can reduce taxable value. Confirm eligibility before estimating escrow.
Reassessment
A purchase can change assessed value depending on Indiana and county rules. Ask how sale price affects the next assessment cycle.
Escrow impact
The median tax paid in this ZCTA equals about $167 per month before insurance, HOA dues, or special assessments.
Assessor verification
Marion County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 46227 Compares
Median Annual Property Tax
ZIP 46227
1.04%
Effective rate
Indiana Avg
0.69%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Indiana
Higher than 96% of ZIP codes in Indiana(96th percentile, 713 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 46227
Property owners in ZIP code 46227 (Indianapolis, Indiana) pay a median of $2,002/year in property taxes on homes valued at $192,600. This translates to an effective tax rate of 1.04%, which is 50% above the Indiana state average of 0.69%.
The monthly property tax burden for a median-valued home in 46227 is approximately $167, which factors into escrow payments on mortgages. This ZIP code is located within Marion County. This is $751 more than the Indiana average of $1,251/year.
Compared to similar ZIP codes in Indiana, 46227 has higher property taxes. ZIP codes with similar effective rates include 46240 (1.03%) and 46394 (1.03%).
In Indianapolis, property taxes represent approximately 3.9% of the median household income of $50,993, providing context for the relative tax burden on homeowners in this area.
Indiana reassesses property at market value at the time of purchase with no statewide annual increase cap. Marion County offers the Homestead Property Tax Deduction for owner-occupied homes — file Form 136 with the Marion County Assessor to reduce your taxable assessed value. Submit your Form 136 application to the Marion County Assessor in the first tax year following purchase and review your assessment notice to confirm accuracy.
Frequently Asked Questions
What is the property tax rate in ZIP code 46227?
How much are property taxes in Indianapolis, IN (46227)?
How does ZIP 46227 compare to the Indiana average?
What is the median home value in ZIP 46227?
What county is ZIP code 46227 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$118. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 46227 is part of Marion County, Indiana. View the full county profile for broader context and more data.
View Marion County on TaxByCounty →Explore Indianapolis, IN
View all 36 ZIP codes in Indianapolis with property tax comparisons.
View Indianapolis Property Tax Rates →Why compare these ZIPs?
Better comparison set for ZIP 46227
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
46231
Indianapolis, IN
$11,600 higher median home value than ZIP 46227.
Rate
1.07%
Tax
$2,186
Quality
94
46234
Indianapolis, IN
0.09 percentage points lower than ZIP 46227.
Rate
0.95%
Tax
$2,150
Quality
94
46280
Indianapolis, IN
0.24 percentage points lower than ZIP 46227.
Rate
0.80%
Tax
$2,321
Quality
94
46218
Indianapolis, IN
0.39 percentage points lower than ZIP 46227.
Rate
0.65%
Tax
$584
Quality
101
46222
Indianapolis, IN
0.34 percentage points lower than ZIP 46227.
Rate
0.70%
Tax
$730
Quality
101
46225
Indianapolis, IN
0.32 percentage points lower than ZIP 46227.
Rate
0.72%
Tax
$885
Quality
101
46216
Indianapolis, IN
0.32 percentage points lower than ZIP 46227.
Rate
0.72%
Tax
$1,833
Quality
96
46201
Indianapolis, IN
0.30 percentage points lower than ZIP 46227.
Rate
0.74%
Tax
$1,110
Quality
101
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.