47359 Property Tax Rate

Property owners in ZIP code 47359 (Montpelier, Indiana) pay a median of $1,018/year in property taxes on homes valued at $112,400. This translates to an effective tax rate of 0.91%, which is 30% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47359 is approximately $85, which factors into escrow payments on mortgages. This ZIP code is located within Blackford County. This is $233 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47359 has higher property taxes. ZIP codes with similar effective rates include 46552 (0.91%) and 46410 (0.91%).

In Montpelier, property taxes represent approximately 1.5% of the median household income of $67,308, providing context for the relative tax burden on homeowners in this area.

Indiana's triennial reassessment will adjust Blackford County properties to market value at sale; your purchase price sets the baseline for the next three years. Blackford County offers a Homestead Exemption and Veteran's Exemption—file both applications with the Blackford County Assessor if you qualify. Complete your exemption filing within 60 days of purchase to ensure the reduction applies to your first tax bill.