47143 Property Tax Rate

Property owners in ZIP code 47143 (Memphis, Indiana) pay a median of $1,330/year in property taxes on homes valued at $247,500. This translates to an effective tax rate of 0.54%, which is 23% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47143 is approximately $111, which factors into escrow payments on mortgages. This ZIP code is located within Clark County.

Compared to similar ZIP codes in Indiana, 47143 has higher property taxes. ZIP codes with similar effective rates include 47993 (0.54%) and 47042 (0.54%).

In Memphis, property taxes represent approximately 1.0% of the median household income of $133,147, providing context for the relative tax burden on homeowners in this area.

Indiana operates on a triennial reassessment cycle with no state cap limiting value increases; Clark County will update your assessment at its next scheduled revaluation. Clark County offers a Homestead Property Tax Deduction and additional Supplemental Homestead Deductions for seniors 65+ and disabled residents. Submit your homestead deduction claim to the Clark County Assessor's office within 30 days of purchase to activate your tax relief.