47997 Property Tax Rate

Property owners in ZIP code 47997 (Yeoman, Indiana) pay a median of $780/year in property taxes on homes valued at $121,500. This translates to an effective tax rate of 0.64%, which is 8% below the Indiana state average of 0.69%.

The monthly property tax burden for a median-valued home in 47997 is approximately $65, which factors into escrow payments on mortgages. This ZIP code is located within Carroll County. This is $471 less than the Indiana average of $1,251/year.

Compared to similar ZIP codes in Indiana, 47997 has lower property taxes. ZIP codes with similar effective rates include 46049 (0.64%) and 46763 (0.64%).

In Yeoman, property taxes represent approximately 1.2% of the median household income of $62,500, providing context for the relative tax burden on homeowners in this area.

Indiana reassesses property at sale to current market value, resetting your tax base to the purchase price. Carroll County offers a Homestead Standard Deduction ($45,000 off assessed value for primary residences) — file with the Carroll County Assessor within 60 days of purchase. Contact the Carroll County Assessor to confirm your exemption filing and request your property record to verify the deduction is applied.