46986 Property Tax Rate

Property owners in ZIP code 46986 (Swayzee, Indiana) pay a median of $974/year in property taxes on homes valued at $138,700. This translates to an effective tax rate of 0.70%, which is near the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46986 is approximately $81, which factors into escrow payments on mortgages. This ZIP code is located within Grant County. This is $277 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46986 has lower property taxes. ZIP codes with similar effective rates include 46064 (0.70%) and 47568 (0.70%).

In Swayzee, property taxes represent approximately 1.3% of the median household income of $76,510, providing context for the relative tax burden on homeowners in this area.

Indiana does not cap property tax assessment increases at the state level; the Grant County Assessor reassesses properties based on market value triennially, with potential significant jumps at sale. Grant County offers a Homestead Property Tax Deduction for primary residences (amount varies; check with the assessor) and a Supplemental Homestead Deduction for seniors 65+ and disabled owners. Contact the Grant County Assessor's office immediately after closing to file for available deductions and confirm your property's assessment cycle.