47535 Property Tax Rate

Property owners in ZIP code 47535 (Freelandville, Indiana) pay a median of $504/year in property taxes on homes valued at $74,000. This translates to an effective tax rate of 0.68%, which is near the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47535 is approximately $42, which factors into escrow payments on mortgages. This ZIP code is located within Knox County. This is $747 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47535 has lower property taxes. ZIP codes with similar effective rates include 47227 (0.68%) and 47114 (0.68%).

In Freelandville, property taxes represent approximately 0.9% of the median household income of $58,654, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 47535, 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 Knox County's tax assessor directly.