47120 Property Tax Rate

Property owners in ZIP code 47120 (Fredericksburg, Indiana) pay a median of $1,321/year in property taxes on homes valued at $223,800. This translates to an effective tax rate of 0.59%, which is 15% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47120 is approximately $110, which factors into escrow payments on mortgages. This ZIP code is located within Washington County.

Compared to similar ZIP codes in Indiana, 47120 has lower property taxes. ZIP codes with similar effective rates include 47950 (0.59%) and 46970 (0.59%).

In Fredericksburg, property taxes represent approximately 2.2% of the median household income of $58,906, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses all properties every three years without a statewide cap on assessment increases; Washington County will update your property value when its next triennial revaluation occurs. Washington County provides a Homestead Property Tax Deduction for owner-occupied primary residences and Supplemental Homestead Deductions for seniors and disabled homeowners. File your homestead exemption with the Washington County Assessor within 30 days of closing to ensure you receive your deduction.