47030 Property Tax Rate

Property owners in ZIP code 47030 (Metamora, Indiana) pay a median of $1,012/year in property taxes on homes valued at $158,000. This translates to an effective tax rate of 0.64%, which is 8% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47030 is approximately $84, which factors into escrow payments on mortgages. This ZIP code is located within Franklin County. This is $239 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47030 has lower property taxes. ZIP codes with similar effective rates include 47631 (0.64%) and 47620 (0.64%).

In Metamora, property taxes represent approximately 1.7% of the median household income of $58,264, 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.