47163 Property Tax Rate

Property owners in ZIP code 47163 (Otisco, Indiana) pay a median of $965/year in property taxes on homes valued at $182,800. This translates to an effective tax rate of 0.53%, which is 24% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47163 is approximately $80, which factors into escrow payments on mortgages. This ZIP code is located within Clark County. This is $286 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47163 has lower property taxes. ZIP codes with similar effective rates include 47955 (0.53%) and 47220 (0.53%).

In Otisco, property taxes represent approximately 1.5% of the median household income of $62,717, 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.