47038 Property Tax Rate

Property owners in ZIP code 47038 (Patriot, Indiana) pay a median of $677/year in property taxes on homes valued at $122,100. This translates to an effective tax rate of 0.55%, which is 20% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47038 is approximately $56, which factors into escrow payments on mortgages. This ZIP code is located within Switzerland County. This is $574 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47038 has higher property taxes. ZIP codes with similar effective rates include 47930 (0.55%) and 46737 (0.55%).

In Patriot, property taxes represent approximately 1.4% of the median household income of $47,941, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses properties every three years without a state cap on increases; Switzerland County will update your assessment at its next triennial revaluation, and you should expect potential value adjustments. Switzerland County provides a Homestead Property Tax Deduction for primary residences and Supplemental Homestead Deductions for seniors and disabled homeowners. Submit your homestead deduction claim to the Switzerland County Assessor's office immediately after purchase to activate your exemption.