47223 Property Tax Rate

Property owners in ZIP code 47223 (Butlerville, Indiana) pay a median of $1,228/year in property taxes on homes valued at $189,000. This translates to an effective tax rate of 0.65%, which is 6% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47223 is approximately $102, which factors into escrow payments on mortgages. This ZIP code is located within Jennings County.

Compared to similar ZIP codes in Indiana, 47223 has lower property taxes. ZIP codes with similar effective rates include 47125 (0.65%) and 47665 (0.65%).

In Butlerville, property taxes represent approximately 1.4% of the median household income of $88,025, providing context for the relative tax burden on homeowners in this area.

Indiana operates on a triennial reassessment cycle with no statewide cap on value increases; Jennings County will update your property assessment without restriction at its next scheduled revaluation. Jennings County offers a Homestead Property Tax Deduction and Supplemental Homestead Deductions for seniors 65+ and disabled residents. Submit your homestead deduction application to the Jennings County Assessor within 30 days of purchase to activate your exemption and reduce your tax liability.