47012 Property Tax Rate

Property owners in ZIP code 47012 (Brookville, Indiana) pay a median of $1,419/year in property taxes on homes valued at $242,100. This translates to an effective tax rate of 0.59%, which is 16% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47012 is approximately $118, which factors into escrow payments on mortgages. This ZIP code is located within Franklin County.

Compared to similar ZIP codes in Indiana, 47012 has higher property taxes. ZIP codes with similar effective rates include 47469 (0.59%) and 47352 (0.59%).

In Brookville, property taxes represent approximately 1.6% of the median household income of $86,369, providing context for the relative tax burden on homeowners in this area.

Indiana operates on a triennial reassessment cycle with no statewide cap on assessment increases; your property value may jump significantly when Franklin County updates its rolls. Franklin County offers a Homestead Property Tax Deduction and enhanced Supplemental Homestead Deductions for seniors 65+ and disabled residents. File your homestead exemption with the Franklin County Assessor within 30 days of closing to ensure timely enrollment in the deduction program.