47023 Property Tax Rate

Property owners in ZIP code 47023 (Holton, Indiana) pay a median of $1,137/year in property taxes on homes valued at $174,000. This translates to an effective tax rate of 0.65%, which is 6% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47023 is approximately $95, which factors into escrow payments on mortgages. This ZIP code is located within Ripley County.

Compared to similar ZIP codes in Indiana, 47023 has lower property taxes. ZIP codes with similar effective rates include 47018 (0.65%) and 46803 (0.65%).

In Holton, property taxes represent approximately 1.7% of the median household income of $68,438, providing context for the relative tax burden on homeowners in this area.

Indiana properties are revalued every three years without a state assessment cap, meaning substantial increases are possible when the county updates property values. Ripley County extends a Homestead Property Tax Deduction to owner-occupied homes and additional Supplemental Homestead Deductions for seniors and disabled homeowners. Submit your homestead deduction application to the Ripley County Assessor's office within 30 days of purchase to secure your tax benefit.