47964 Property Tax Rate

Property owners in ZIP code 47964 (Mount Ayr, Indiana) pay a median of $740/year in property taxes on homes valued at $88,500. This translates to an effective tax rate of 0.84%, which is 20% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47964 is approximately $62, which factors into escrow payments on mortgages. This ZIP code is located within Newton County. This is $511 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47964 has higher property taxes. ZIP codes with similar effective rates include 47842 (0.84%) and 47384 (0.84%).

In Mount Ayr, property taxes represent approximately 1.6% of the median household income of $45,000, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 47964, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Newton County's tax assessor directly.