47150 Property Tax Rate

Property owners in ZIP code 47150 (New Albany, Indiana) pay a median of $1,428/year in property taxes on homes valued at $191,800. This translates to an effective tax rate of 0.74%, which is 7% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47150 is approximately $119, which factors into escrow payments on mortgages. This ZIP code is located within Floyd County.

Compared to similar ZIP codes in Indiana, 47150 has higher property taxes. ZIP codes with similar effective rates include 46175 (0.75%) and 47335 (0.74%).

In New Albany, property taxes represent approximately 2.3% of the median household income of $62,212, 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.