47842 Property Tax Rate

Property owners in ZIP code 47842 (Clinton, Indiana) pay a median of $954/year in property taxes on homes valued at $114,100. This translates to an effective tax rate of 0.84%, which is 20% above the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47842 is approximately $80, which factors into escrow payments on mortgages. This ZIP code is located within Vermillion County. This is $297 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47842 has lower property taxes. ZIP codes with similar effective rates include 47964 (0.84%) and 47384 (0.84%).

In Clinton, property taxes represent approximately 1.8% of the median household income of $54,181, providing context for the relative tax burden on homeowners in this area.

Indiana assessments carry no statewide growth cap, so the Vermillion County Assessor may reassess your property at market value with no annual increase limitation. Submit your application for the Homestead Deduction and (if eligible) Senior Citizen or Veteran Deduction to the Vermillion County Assessor within 60 days of closing to claim available relief. Review your assessment notice immediately and file a formal appeal with the Vermillion County Board of Tax Review if the assessed value appears inconsistent with arm's-length sales of comparable properties.