47177 Property Tax Rate

Property owners in ZIP code 47177 (Underwood, Indiana) pay a median of $1,133/year in property taxes on homes valued at $177,500. This translates to an effective tax rate of 0.64%, which is 8% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47177 is approximately $94, which factors into escrow payments on mortgages. This ZIP code is located within Scott County.

Compared to similar ZIP codes in Indiana, 47177 has lower property taxes. ZIP codes with similar effective rates include 47340 (0.64%) and 46051 (0.64%).

In Underwood, property taxes represent approximately 1.5% of the median household income of $75,993, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses properties triennially without a state-imposed cap on assessment growth; Scott County will update your property value at its next revaluation cycle. Scott County provides a Homestead Property Tax Deduction for primary residences and supplemental deductions for seniors and disabled homeowners. File your homestead exemption application with the Scott County Assessor immediately after closing to secure your deduction eligibility.