46788 Property Tax Rate

Property owners in ZIP code 46788 (Spencerville, Indiana) pay a median of $1,604/year in property taxes on homes valued at $233,600. This translates to an effective tax rate of 0.69%, which is near the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46788 is approximately $134, which factors into escrow payments on mortgages. This ZIP code is located within DeKalb County. This is $353 more than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46788 has lower property taxes. ZIP codes with similar effective rates include 46072 (0.69%) and 46806 (0.69%).

In Spencerville, property taxes represent approximately 1.6% of the median household income of $97,250, 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. DeKalb County offers a Homestead Standard Deduction ($45,000 off assessed value for primary residences) — file with the DeKalb County Assessor within 60 days of purchase. Request your property record from the DeKalb County Assessor to ensure the homestead deduction is reflected before your first tax bill is due.