Georgetown, Floyd County, Indiana Property Taxes
Median Georgetown, IN effective property tax rate: 0.81%, significantly lower than the national median of 1.02%, but lower than the Indiana state median of 0.99%.
Median Georgetown, IN home value: $228,400
Median annual Georgetown, IN tax bill: $1,904, $496 lower than the national median property tax bill of $2,400.
How are property taxes in Floyd County calculated?
Property taxes in Georgetown, IN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Georgetown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Georgetown, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Georgetown, Floyd County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.81%
Estimate Property Tax Bill
$1,850
$1,717
Property Tax Rates Across Georgetown, Floyd County, Indiana
Local government entities determine tax rates, which can vary significantly within a state. Each year, counties estimate their required budgets to provide services and divide this by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Although setting tax rates and budgets involves votes and laws, this is the annual process in summary.
In Georgetown, located in Floyd County, Indiana, the effective property tax rate stands at 0.81%. This rate is notably lower than the national median property tax rate of 1.02%. Comparatively, Indiana's median property tax rate aligns with Georgetown's rate, providing a consistent tax environment across the state. When contrasting Georgetown's rate with other cities in Indiana, it remains competitive, offering a favorable tax climate for property owners. With the national median property tax bill at $2,400, Georgetown's lower rate signifies potentially lower property tax bills for its residents. This advantageous positioning within Indiana highlights Georgetown as an attractive location for property investment, balancing necessary public services with manageable tax obligations.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Georgetown Tax Rate
0.81%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Floyd County Tax Rate
0.86%
Median Effective Indiana Tax Rate
0.99%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Georgetown, Floyd County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47122 | 0.58% | 0.70% | 0.81% | 0.90% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Georgetown, Floyd County, Indiana
When examining property taxes in Georgetown, Indiana, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Floyd County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Floyd County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Georgetown.
For example, the median home price in Georgetown is $228,400, with tax bills ranging significantly across the county. Zip code 47122 has the highest median home price at $228,400.
Property Tax Assessment Values Across Georgetown, Floyd County, Indiana
Source: Ownwell
$147,800
$231,250
$314,700
Median Georgetown Market Value
$228,400
Median Floyd County Market Value
$183,400
Median Indiana Market Value
$170,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Georgetown, Floyd County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47122 | $102,540 | $151,300 | $228,400 | $316,500 | $401,420 |
Source: Ownwell
Property Tax Bills Across Georgetown, Floyd County, Indiana
Median Georgetown Tax Bill
$1,904
Median Floyd County Tax Bill
$1,788
Median Indiana Tax Bill
$1,691
Median United States Tax Bill
$2,400
Property Tax Bills Across Georgetown, Floyd County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47122 | $677 | $1,158 | $1,904 | $2,730 | $3,656 |
Source: Ownwell