47281 Property Tax Rate

Property owners in ZIP code 47281 (Vallonia, Indiana) pay a median of $1,222/year in property taxes on homes valued at $170,300. This translates to an effective tax rate of 0.72%, which is 3% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47281 is approximately $102, which factors into escrow payments on mortgages. This ZIP code is located within Jackson County.

Compared to similar ZIP codes in Indiana, 47281 has lower property taxes. ZIP codes with similar effective rates include 46989 (0.72%) and 46055 (0.72%).

In Vallonia, property taxes represent approximately 1.5% of the median household income of $82,243, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses properties every three years without a state cap on assessment increases; Jackson County will update your property value when its next triennial revaluation occurs. Jackson County provides a Homestead Property Tax Deduction for owner-occupied primary residences and Supplemental Homestead Deductions for seniors and disabled homeowners. File your homestead exemption with the Jackson County Assessor immediately after closing to secure your tax deduction.