47161 Property Tax Rate

Property owners in ZIP code 47161 (New Salisbury, Indiana) pay a median of $1,039/year in property taxes on homes valued at $202,100. This translates to an effective tax rate of 0.51%, which is 26% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47161 is approximately $87, which factors into escrow payments on mortgages. This ZIP code is located within Harrison County. This is $212 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47161 has lower property taxes. ZIP codes with similar effective rates include 46975 (0.51%) and 46157 (0.51%).

In New Salisbury, property taxes represent approximately 1.2% of the median household income of $84,318, 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.