47941 Property Tax Rate

Property owners in ZIP code 47941 (Dayton, Indiana) pay a median of $918/year in property taxes on homes valued at $169,300. This translates to an effective tax rate of 0.54%, which is 22% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47941 is approximately $77, which factors into escrow payments on mortgages. This ZIP code is located within Tippecanoe County. This is $333 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47941 has higher property taxes. ZIP codes with similar effective rates include 47868 (0.54%) and 47581 (0.54%).

In Dayton, property taxes represent approximately 1.2% of the median household income of $74,500, providing context for the relative tax burden on homeowners in this area.

Indiana has no statewide assessment cap, and the Tippecanoe County Assessor may increase assessed values based on market conditions without statutory restriction at any time. Tippecanoe County offers a Homestead Deduction and Senior Citizen Property Tax Deduction — file your application with the Tippecanoe County Assessor within 60 days of purchase to access these exemptions. Request your assessment details and file a Formal Assessment Appeal with the Tippecanoe County Board of Tax Review by the statutory deadline if the assessed value exceeds comparable market sales.