46235 Property Tax Rate

Property owners in ZIP code 46235 (Indianapolis, Indiana) pay a median of $1,376/year in property taxes on homes valued at $169,300. This translates to an effective tax rate of 0.81%, which is 17% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46235 is approximately $115, which factors into escrow payments on mortgages. This ZIP code is located within Marion County.

Compared to similar ZIP codes in Indiana, 46235 has higher property taxes. ZIP codes with similar effective rates include 47330 (0.81%) and 46012 (0.81%).

In Indianapolis, property taxes represent approximately 2.5% of the median household income of $56,160, 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.