47036 Property Tax Rate

Property owners in ZIP code 47036 (Oldenburg, Indiana) pay a median of $1,827/year in property taxes on homes valued at $392,900. This translates to an effective tax rate of 0.47%, which is 33% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47036 is approximately $152, which factors into escrow payments on mortgages. This ZIP code is located within Franklin County. This is $576 more than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47036 has lower property taxes. ZIP codes with similar effective rates include 47840 (0.47%) and 47575 (0.46%).

In Oldenburg, property taxes represent approximately 2.1% of the median household income of $85,000, 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.