47427 Property Tax Rate

Property owners in ZIP code 47427 (Coal City, Indiana) pay a median of $795/year in property taxes on homes valued at $118,300. This translates to an effective tax rate of 0.67%, which is 3% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47427 is approximately $66, which factors into escrow payments on mortgages. This ZIP code is located within Owen County. This is $456 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47427 has lower property taxes. ZIP codes with similar effective rates include 47635 (0.67%) and 47974 (0.67%).

In Coal City, property taxes represent approximately 1.0% of the median household income of $77,857, providing context for the relative tax burden on homeowners in this area.

Owen County reassesses all properties every three years, and your purchase price will become the new assessed value once you close; plan for a potential tax increase. Owen County residents qualify for a Homestead Exemption and a Veteran's Exemption if applicable—submit both to the Owen County Assessor within 60 days of ownership transfer. Contact the Owen County Assessor's office before closing to confirm current exemption amounts and how they apply to your purchase.