Bloomington, IN — income, home value, property tax, and sales tax.
In ZIP code 47405, which covers part of Bloomington, per-capita income stands at just $3,822 — a figure shaped heavily by the student population attending Indiana University. That low earning level makes property taxes especially consequential: the county-level effective rate of 0.71% means a home assessed at $200,000 would carry roughly $1,420 in annual taxes, a sum that dwarfs what the average resident here brings in each year. Combined with a 7.00% sales tax, housing costs and daily purchases both draw on very limited incomes, sharpening the tension between owning property and being able to pay for it.