47660 Property Tax Rate

Property owners in ZIP code 47660 (Oakland City, Indiana) pay a median of $943/year in property taxes on homes valued at $132,600. This translates to an effective tax rate of 0.71%, which is near the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47660 is approximately $79, which factors into escrow payments on mortgages. This ZIP code is located within Gibson County. This is $308 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47660 has lower property taxes. ZIP codes with similar effective rates include 47356 (0.71%) and 46808 (0.71%).

In Oakland City, property taxes represent approximately 1.8% of the median household income of $53,791, 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.