47122 Property Tax Rate

Property owners in ZIP code 47122 (Georgetown, Indiana) pay a median of $1,735/year in property taxes on homes valued at $268,200. This translates to an effective tax rate of 0.65%, which is 7% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47122 is approximately $145, which factors into escrow payments on mortgages. This ZIP code is located within Floyd County. This is $484 more than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47122 has lower property taxes. ZIP codes with similar effective rates include 46987 (0.65%) and 47231 (0.65%).

In Georgetown, property taxes represent approximately 1.6% of the median household income of $106,034, providing context for the relative tax burden on homeowners in this area.

Indiana operates on a triennial reassessment schedule with no state cap limiting assessment increases; Floyd County will update your property value without restriction at its next revaluation. Floyd County offers a Homestead Property Tax Deduction and Supplemental Homestead Deductions for seniors 65+ and disabled residents. Submit your homestead deduction claim to the Floyd County Assessor within 30 days of your purchase to ensure you receive all available tax relief.