47958 Property Tax Rate

Property owners in ZIP code 47958 (Mellott, Indiana) pay a median of $508/year in property taxes on homes valued at $152,200. This translates to an effective tax rate of 0.33%, which is 52% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47958 is approximately $42, which factors into escrow payments on mortgages. This ZIP code is located within Fountain County. This is $743 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47958 has higher property taxes. ZIP codes with similar effective rates include 46764 (0.33%) and 47020 (0.33%).

In Mellott, property taxes represent approximately 0.6% of the median household income of $84,583, providing context for the relative tax burden on homeowners in this area.

Indiana imposes no statewide assessment growth cap, and the Fountain County Assessor may increase assessed values at any time based on market conditions without restriction. Apply for the Homestead Deduction and Senior Citizen Property Tax Deduction with the Fountain County Assessor within 60 days of closing to reduce your taxable assessed value. File a written Assessment Appeal with the Fountain County Board of Tax Review if your assessment notice reflects a value higher than recent comparable property sales.