47265 Property Tax Rate

Property owners in ZIP code 47265 (North Vernon, Indiana) pay a median of $819/year in property taxes on homes valued at $143,700. This translates to an effective tax rate of 0.57%, which is 18% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47265 is approximately $68, which factors into escrow payments on mortgages. This ZIP code is located within Jennings County. This is $432 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47265 has higher property taxes. ZIP codes with similar effective rates include 46050 (0.57%) and 46510 (0.57%).

In North Vernon, property taxes represent approximately 1.2% of the median household income of $65,877, 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.