46990 Property Tax Rate

Property owners in ZIP code 46990 (Urbana, Indiana) pay a median of $787/year in property taxes on homes valued at $140,400. This translates to an effective tax rate of 0.56%, which is 19% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 46990 is approximately $66, which factors into escrow payments on mortgages. This ZIP code is located within Wabash County. This is $464 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 46990 has higher property taxes. ZIP codes with similar effective rates include 47102 (0.56%) and 47324 (0.56%).

In Urbana, property taxes represent approximately 0.8% of the median household income of $93,409, providing context for the relative tax burden on homeowners in this area.

Indiana properties are revalued every three years with no statewide cap on assessment increases, meaning your tax bill could spike significantly if your home's value rises. Wabash County extends a Homestead Property Tax Deduction to primary residences and a Supplemental Homestead Deduction for seniors and disabled residents. Submit your homestead exemption claim to the Wabash County Assessor's office no later than 30 days after purchase to secure your deduction.