46987 Property Tax Rate

Property owners in ZIP code 46987 (Sweetser, Indiana) pay a median of $878/year in property taxes on homes valued at $135,700. This translates to an effective tax rate of 0.65%, which is 7% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46987 is approximately $73, which factors into escrow payments on mortgages. This ZIP code is located within Grant County. This is $373 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46987 has lower property taxes. ZIP codes with similar effective rates include 47122 (0.65%) and 46218 (0.65%).

In Sweetser, property taxes represent approximately 1.1% of the median household income of $77,813, 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.