47957 Property Tax Rate

Property owners in ZIP code 47957 (Medaryville, Indiana) pay a median of $641/year in property taxes on homes valued at $131,700. This translates to an effective tax rate of 0.49%, which is 30% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47957 is approximately $53, which factors into escrow payments on mortgages. This ZIP code is located within Pulaski County. This is $610 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47957 has higher property taxes. ZIP codes with similar effective rates include 47846 (0.49%) and 47994 (0.49%).

In Medaryville, property taxes represent approximately 1.1% of the median household income of $58,412, providing context for the relative tax burden on homeowners in this area.

Indiana does not limit annual assessment growth; Pulaski County assessors revalue properties on the standard triennial schedule, and your bill adjusts accordingly when values change. The county provides a Homestead Property Tax Deduction for owner-occupied primary residences and enhanced deductions for seniors 65+ and disabled owners. File your deduction application with the Pulaski County Assessor immediately after closing to ensure you receive the exemption in the next assessment cycle.