47874 Property Tax Rate

Property owners in ZIP code 47874 (Rosedale, Indiana) pay a median of $579/year in property taxes on homes valued at $130,600. This translates to an effective tax rate of 0.44%, which is 36% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47874 is approximately $48, which factors into escrow payments on mortgages. This ZIP code is located within Parke County. This is $672 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47874 has lower property taxes. ZIP codes with similar effective rates include 47110 (0.44%) and 47224 (0.45%).

In Rosedale, property taxes represent approximately 1.0% of the median household income of $58,125, providing context for the relative tax burden on homeowners in this area.

Indiana has no statewide property tax assessment cap, and the Parke County Assessor may increase assessed values based on market conditions without statutory restriction. Parke County provides a Homestead Deduction and Senior Citizen Deduction — submit your application to the Parke County Assessor within 60 days of closing to access available tax relief. Request a copy of your assessment worksheet within 30 days and file a formal appeal with the Parke County Board of Tax Review if the appraised value significantly exceeds similar properties.