47940 Property Tax Rate

Property owners in ZIP code 47940 (Darlington, Indiana) pay a median of $898/year in property taxes on homes valued at $149,100. This translates to an effective tax rate of 0.60%, which is 13% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47940 is approximately $75, which factors into escrow payments on mortgages. This ZIP code is located within Montgomery County. This is $353 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47940 has lower property taxes. ZIP codes with similar effective rates include 47615 (0.60%) and 47905 (0.60%).

In Darlington, property taxes represent approximately 1.3% of the median household income of $68,750, providing context for the relative tax burden on homeowners in this area.

Indiana does not impose a statewide property tax assessment cap, and the Montgomery County Assessor may adjust assessed values upward without statutory limitation. Montgomery County residents qualify for the Homestead Deduction and Senior Citizen Deduction — apply to the Montgomery County Assessor within 60 days of closing to reduce your assessed value. File a written Assessment Appeal with the Montgomery County Board of Tax Review if you receive an assessment notice that you believe overstates the property's fair market value.