47282 Property Tax Rate

Property owners in ZIP code 47282 (Vernon, Indiana) pay a median of $420/year in property taxes on homes valued at $82,500. This translates to an effective tax rate of 0.51%, which is 27% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47282 is approximately $35, which factors into escrow payments on mortgages. This ZIP code is located within Jennings County. This is $831 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47282 has lower property taxes. ZIP codes with similar effective rates include 47920 (0.51%) and 46930 (0.51%).

In Vernon, property taxes represent approximately 0.6% of the median household income of $67,188, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 47282, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Jennings County's tax assessor directly.