47424 Property Tax Rate

Property owners in ZIP code 47424 (Bloomfield, Indiana) pay a median of $937/year in property taxes on homes valued at $163,600. 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 47424 is approximately $78, which factors into escrow payments on mortgages. This ZIP code is located within Greene County. This is $314 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47424 has lower property taxes. ZIP codes with similar effective rates include 46714 (0.57%) and 47981 (0.57%).

In Bloomfield, property taxes represent approximately 1.4% of the median household income of $69,022, providing context for the relative tax burden on homeowners in this area.

Greene County will reset your assessed value to market at purchase during Indiana's triennial reassessment; document your closing price for tax planning. Greene County offers a Homestead Exemption and Senior Exemption (65+) that both lower your taxable assessed value—apply with the Greene County Assessor immediately after purchase. File your exemption applications before the deadline (typically 45 days from assessment notice) to avoid losing one year of potential savings.