47834 Property Tax Rate

Property owners in ZIP code 47834 (Brazil, Indiana) pay a median of $638/year in property taxes on homes valued at $135,900. This translates to an effective tax rate of 0.47%, which is 32% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47834 is approximately $53, which factors into escrow payments on mortgages. This ZIP code is located within Clay County. This is $613 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47834 has lower property taxes. ZIP codes with similar effective rates include 46777 (0.47%) and 46171 (0.47%).

In Brazil, property taxes represent approximately 1.0% of the median household income of $66,677, providing context for the relative tax burden on homeowners in this area.

Indiana does not cap annual assessment increases, and the Clay County Assessor will reassess your property based on fair market value with no statutory growth limit. File for the Homestead Property Tax Deduction and Senior Citizen Deduction (if applicable) with the Clay County Assessor as soon as possible after closing to reduce your assessed value. Obtain a copy of the assessment notice within 45 days and file a Formal Assessment Appeal with the Clay County Board of Tax Review by the deadline (typically 60 days) if you dispute the value.