47446 Property Tax Rate

Property owners in ZIP code 47446 (Mitchell, Indiana) pay a median of $1,056/year in property taxes on homes valued at $141,200. This translates to an effective tax rate of 0.75%, which is 8% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47446 is approximately $88, which factors into escrow payments on mortgages. This ZIP code is located within Lawrence County.

Compared to similar ZIP codes in Indiana, 47446 has lower property taxes. ZIP codes with similar effective rates include 46184 (0.75%) and 46561 (0.75%).

In Mitchell, property taxes represent approximately 2.0% of the median household income of $53,182, providing context for the relative tax burden on homeowners in this area.

Lawrence County reassesses properties triennially at market value, resetting your assessment to the purchase price you paid at closing. Lawrence County residents age 65+ and military veterans can claim exemptions that reduce assessed value—file with the Lawrence County Assessor within 60 days of closing. Request a copy of your preliminary assessment from the Lawrence County Assessor to verify the reassessment reflects your actual purchase price.