47162 Property Tax Rate

Property owners in ZIP code 47162 (New Washington, Indiana) pay a median of $1,018/year in property taxes on homes valued at $161,700. This translates to an effective tax rate of 0.63%, which is 9% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47162 is approximately $85, which factors into escrow payments on mortgages. This ZIP code is located within Clark County. This is $233 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47162 has higher property taxes. ZIP codes with similar effective rates include 46390 (0.63%) and 46133 (0.63%).

In New Washington, property taxes represent approximately 1.4% of the median household income of $73,839, 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.