46349 Property Tax Rate

Property owners in ZIP code 46349 (Lake Village, Indiana) pay a median of $1,835/year in property taxes on homes valued at $198,300. This translates to an effective tax rate of 0.93%, which is 33% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46349 is approximately $153, which factors into escrow payments on mortgages. This ZIP code is located within Newton County. This is $584 more than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46349 has lower property taxes. ZIP codes with similar effective rates include 47304 (0.93%) and 47966 (0.93%).

In Lake Village, property taxes represent approximately 2.4% of the median household income of $75,057, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses property at sale to current market value, resetting your tax base to the purchase price. Newton County offers a Homestead Standard Deduction ($45,000 off assessed value for primary residences) — file with the Newton County Assessor within 60 days of purchase. Contact the Newton County Assessor to confirm receipt of your exemption application and review your first assessment notice for accuracy.