46537 Property Tax Rate

Property owners in ZIP code 46537 (Lapaz, Indiana) pay a median of $597/year in property taxes on homes valued at $125,400. This translates to an effective tax rate of 0.48%, which is 31% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46537 is approximately $50, which factors into escrow payments on mortgages. This ZIP code is located within Marshall County. This is $654 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46537 has lower property taxes. ZIP codes with similar effective rates include 47952 (0.48%) and 47557 (0.48%).

In Lapaz, property taxes represent approximately 1.0% of the median household income of $61,813, 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. Marshall County offers a Homestead Standard Deduction ($45,000 off assessed value for primary residences) — file with the Marshall County Assessor within 60 days of purchase. Contact the Marshall County Assessor's office to confirm your exemption filing and obtain a copy of your assessed value for your records.