47117 Property Tax Rate

Property owners in ZIP code 47117 (Elizabeth, Indiana) pay a median of $1,104/year in property taxes on homes valued at $203,400. This translates to an effective tax rate of 0.54%, which is 22% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47117 is approximately $92, which factors into escrow payments on mortgages. This ZIP code is located within Harrison County.

Compared to similar ZIP codes in Indiana, 47117 has higher property taxes. ZIP codes with similar effective rates include 47872 (0.54%) and 47868 (0.54%).

In Elizabeth, property taxes represent approximately 1.2% of the median household income of $88,648, providing context for the relative tax burden on homeowners in this area.

Indiana has no state property tax cap; Harrison County reassesses properties triennially, and new purchases are valued at market rate without a cap on increases. Harrison County offers a Homestead Property Tax Deduction for primary residences and enhanced Supplemental Homestead Deductions for seniors 65+ and disabled residents. Contact the Harrison County Assessor within 30 days of purchase to file for your homestead deduction and confirm your property's assessed value.