Updated · Property tax data: Census ACS 2024 5-year estimates · Transfer tax verified April 2026 · Methodology · Editorial policy
Monroe County's 0.71% effective property tax rate falls in the middle 50% of US counties, close to the national median of 0.81%. Within Indiana's 92 counties, it's the 31st highest. On the county's median home value of $285,200, the typical homeowner pays $2,036 annually in property tax, $407 more than the national median of $1,629. Indiana charges no state real estate transfer tax, which keeps closing costs here lower than high-transfer-tax states like New York, Pennsylvania, or Delaware. About 11.4% of the county lies within a FEMA flood hazard zone, worth checking msc.fema.gov for any specific address before buying.
Enter any purchase price to see the full cost breakdown for Monroe County.
Moderate flood risk. Some neighborhoods require flood insurance. Check your property at msc.fema.gov.
All figures are estimates for planning purposes only. Mortgage payment assumes a 30-year fixed rate of 7.28%, the Freddie Mac PMMS average for the week ending October 1, 2026. Your lender will confirm the actual rate. Closing costs vary by lender and transaction. Consult a licensed real estate attorney and lender before making any financial decisions.
Ways buyers in Monroe County may reduce their annual property tax. These programs apply statewide; verify county specifics with your local assessor.
For 2026 assessment date, $40,000 off assessed value of primary residence (reduced from $48,000 in 2025). Phases out fully by 2031 as supplemental deduction phases in.
View official source →2026: 40% reduction of remaining assessed value after the standard deduction (automatic, no separate application). Phases up to 66.7% by 2031.
View official source →New for 2026: additional credit of one-tenth of property tax liability, up to $300 annually, automatically applied to qualifying homestead parcels.
View official source →Indiana caps residential homestead property tax at 1% of gross assessed value; other residential at 2%; non-residential at 3%.
View official source →Last verified April 2026. Exemption amounts and eligibility change frequently. Always confirm with your county assessor before claiming.
Answers to common questions about buying a home in Monroe County.
The effective property tax rate in Monroe County is 0.71%, calculated as the median annual property tax paid ($2,036) divided by the median home value ($285,200), using 2024 US Census ACS 5-year estimates. Your actual bill depends on your purchase price, homestead or senior exemptions, and any special assessments applied in your taxing district.
No. Indiana does not impose a state real estate transfer tax, which keeps closing costs in Monroe County lower than in states like New York, Pennsylvania, or Delaware where transfer taxes can add thousands of dollars at closing.
Only in parts. About 11.4% of Monroe County's land area is within a FEMA Special Flood Hazard Area. Most homes are outside these zones, but worth verifying the specific address at msc.fema.gov.
Closing costs for a buyer in Monroe County typically run $5,704–$14,260 (2–5% of purchase price) on a median-priced home, including title insurance ($800–$2,000), appraisal ($400–$700), home inspection ($350–$600), recording fees ($100–$300), and loan origination (0.5–1.0% of the loan amount). Use the calculator above for a specific estimate at your purchase price.
Every county-specific figure on this page links to the exact public dataset it comes from. Verify the numbers yourself against the original source.
Source for the $2,036/yr median taxes paid (ACS 2024 5-year estimates, variable B25103_001E).
Source for the $285,200 median home value (variable B25077_001E). The 0.71% effective rate is median taxes paid divided by median home value.
Confirms Indiana has no state real estate transfer tax. Verified April 2026.
Source for the county's flood hazard exposure (coastal and inland flood exposure area as a share of county area).
The national dataset behind the county report, including its technical documentation and release notes.
Look up a specific property's flood zone and insurance rate map before making an offer on a home in Monroe County.
Closing cost line items are national ranges, not county data. The methodology lists each range's source and the calculator's assumptions (mortgage rate, insurance, PMI).
Indiana property tax exemptions: official sources
Verified April 2026.
What every buyer should read before making an offer.
An HOA capped rentals at 10 of 50 homes and grandfathered the existing landlords. How to find rental restrictions before closing, and what they cost you.
Read the guide →A buyer closed on a house and only then found out about ongoing HOA lawsuits. Six checks you can run yourself before your contingencies expire.
Read the guide →HOA special assessment not on the disclosure? One buyer got a $15,000 bill the day after closing. How to catch it before, and what to do after.
Read the guide →