47551 Property Tax Rate

Property owners in ZIP code 47551 (Leopold, Indiana) pay a median of $1,163/year in property taxes on homes valued at $187,500. This translates to an effective tax rate of 0.62%, which is 11% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47551 is approximately $97, which factors into escrow payments on mortgages. This ZIP code is located within Perry County.

Compared to similar ZIP codes in Indiana, 47551 has higher property taxes. ZIP codes with similar effective rates include 46070 (0.62%) and 46731 (0.62%).

In Leopold, property taxes represent approximately 1.3% of the median household income of $88,047, providing context for the relative tax burden on homeowners in this area.

Perry County will reassess your home to market value during the next triennial cycle; your purchase price anchors the new assessment. Perry County offers a Homestead Exemption and Senior Exemption (65+) available through the Perry County Assessor—apply within 60 days of purchase to qualify. File your exemption applications before the 45-day deadline specified in your Notice of Assessment to ensure the reduction takes effect on your first tax bill.