46540 Property Tax Rate

Property owners in ZIP code 46540 (Middlebury, Indiana) pay a median of $2,663/year in property taxes on homes valued at $297,800. This translates to an effective tax rate of 0.89%, which is 29% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46540 is approximately $222, which factors into escrow payments on mortgages. This ZIP code is located within Elkhart County. This is $1,412 more than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46540 has higher property taxes. ZIP codes with similar effective rates include 46229 (0.89%) and 47884 (0.89%).

In Middlebury, property taxes represent approximately 2.7% of the median household income of $99,664, 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. Elkhart County offers a Homestead Standard Deduction ($45,000 off assessed value for primary residences) — file with the Elkhart County Assessor within 60 days of closing. Request a property card from the Elkhart County Assessor showing the homestead deduction applied before your first tax bill is due.