47553 Property Tax Rate

Property owners in ZIP code 47553 (Loogootee, Indiana) pay a median of $1,086/year in property taxes on homes valued at $197,000. This translates to an effective tax rate of 0.55%, which is 21% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47553 is approximately $91, which factors into escrow payments on mortgages. This ZIP code is located within Martin County.

Compared to similar ZIP codes in Indiana, 47553 has lower property taxes. ZIP codes with similar effective rates include 46779 (0.55%) and 46737 (0.55%).

In Loogootee, property taxes represent approximately 1.5% of the median household income of $74,533, providing context for the relative tax burden on homeowners in this area.

Martin County reassesses all properties every three years, resetting your assessed value to market at purchase; keep your closing statement for reference. Martin County offers a Homestead Exemption and Senior Exemption (65+) that reduce assessed value—file with the Martin County Assessor within 60 days of closing. Submit your exemption applications before the 45-day deadline shown on your preliminary assessment notice to secure immediate relief on your property taxes.