47649 Property Tax Rate

Property owners in ZIP code 47649 (Francisco, Indiana) pay a median of $1,068/year in property taxes on homes valued at $163,400. This translates to an effective tax rate of 0.65%, which is 6% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47649 is approximately $89, which factors into escrow payments on mortgages. This ZIP code is located within Gibson County.

Compared to similar ZIP codes in Indiana, 47649 has higher property taxes. ZIP codes with similar effective rates include 46803 (0.65%) and 47023 (0.65%).

In Francisco, property taxes represent approximately 1.8% of the median household income of $60,362, providing context for the relative tax burden on homeowners in this area.

Indiana has no statewide property tax cap — assessments are based on the assessed value set by the Gibson County Assessor and can increase annually without limit. Gibson County offers a standard homestead exemption and senior citizen property tax deduction; contact the Gibson County Assessor's office to file for these programs and determine your eligibility. File any exemption application immediately upon purchase and request a formal assessment review if the appraised value exceeds comparable sales in your area.