Madison County Property Taxes
The median property tax rate in Madison County is 1.09%, which is notably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $92,550 in Madison County, homeowners typically face an annual property tax bill of $1,130, compared to the national median of $2,690. Property taxes in Madison County are determined based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding the specific property tax system in Madison County, exploring available exemptions, and identifying opportunities for property tax reductions can lead to substantial annual savings. Whether you reside in Anderson or another area within Madison County, gaining a comprehensive understanding of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Madison County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,009
Ownwell’s Madison County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Madison County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Madison County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Madison County, Indiana
Property taxes in Madison County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Madison County is 1.09%, which is higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Madison County set these rates annually, and they can vary significantly between different areas within the county. Each year, Madison County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Madison County's effective property tax rate with other counties in Indiana and the national median. For comparison, the city of Orestes has one of the higher property tax rates in Indiana at 1.40%, while the city of Fairmount boasts one of the lowest at 0.83%. Analyzing how Madison County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Madison County Tax Rate
1.09%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madison County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alexandria | 0.51% | 0.87% | 1.11% | 1.88% | 2.45% |
| Anderson | 0.74% | 1.02% | 1.12% | 2.23% | 2.53% |
| Chesterfield | 0.73% | 0.86% | 1.15% | 2.23% | 3.12% |
| Elwood | 0.62% | 0.98% | 1.03% | 1.98% | 2.83% |
| Fairmount | 0.72% | 0.73% | 0.83% | 0.91% | 1.32% |
| Fortville | 0.54% | 0.76% | 0.97% | 1.51% | 1.90% |
| Frankton | 0.70% | 0.89% | 1.01% | 1.95% | 2.61% |
| Gaston | 1.11% | 1.12% | 1.14% | 1.15% | 1.16% |
| Ingalls | 0.47% | 0.71% | 0.99% | 1.88% | 2.02% |
| Lapel | 0.62% | 0.85% | 0.97% | 1.45% | 2.00% |
| Markleville | 0.53% | 0.75% | 0.98% | 1.45% | 2.00% |
| Middletown | 0.57% | 0.86% | 1.03% | 1.14% | 1.98% |
| Noblesville | 0.75% | 0.83% | 1.01% | 1.08% | 1.10% |
| Orestes | 0.40% | 0.53% | 1.40% | 2.03% | 2.04% |
| Pendleton | 0.46% | 0.82% | 0.96% | 1.03% | 1.77% |
| Summitville | 0.47% | 0.68% | 0.92% | 1.70% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Madison County, Indiana
In Madison County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Madison County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Madison County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Noblesville has the highest median tax bill at $2,044, while Orestes has the lowest at $383. Being aware of these valuation processes in Madison County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Madison County Assessed Value
$92,550
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madison County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alexandria | $18,800 | $52,400 | $88,300 | $132,600 | $184,300 |
| Anderson | $29,800 | $49,700 | $83,800 | $126,500 | $173,100 |
| Chesterfield | $34,200 | $52,900 | $65,900 | $90,650 | $105,900 |
| Elwood | $19,500 | $43,500 | $68,300 | $98,400 | $152,070 |
| Fairmount | $89,720 | $122,300 | $144,150 | $172,725 | $203,220 |
| Fortville | $24,600 | $95,900 | $151,800 | $239,600 | $362,240 |
| Frankton | $15,630 | $59,800 | $93,500 | $136,800 | $214,010 |
| Gaston | $162,220 | $164,500 | $168,300 | $172,100 | $174,380 |
| Ingalls | $17,300 | $64,800 | $105,500 | $159,400 | $186,000 |
| Lapel | $50,860 | $81,800 | $114,300 | $173,600 | $278,480 |
| Markleville | $43,620 | $78,300 | $115,400 | $165,250 | $235,400 |
| Middletown | $66,010 | $113,050 | $149,150 | $205,525 | $256,520 |
| Noblesville | $108,500 | $139,600 | $187,000 | $200,600 | $210,600 |
| Orestes | $8,400 | $33,100 | $56,400 | $73,400 | $90,050 |
| Pendleton | $109,300 | $160,425 | $217,550 | $293,500 | $379,690 |
| Summitville | $17,260 | $56,025 | $87,850 | $127,075 | $197,680 |
Source: Ownwell
Property Tax Bills Across Madison County, Indiana
In Madison County, IN, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local government assessors who evaluate the property's market value and then apply an assessment ratio. Homeowners in Madison County can expect a median home price of $92,550. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local tax rates, property exemptions, and special assessments. For example, the tax bill for the 25th percentile is around $656, while the 75th percentile reaches up to $1,772. At the 90th percentile, homeowners might face tax bills as high as $2,671. Comparing these figures to the national median property tax rate of 0.99%, Madison County's tax rates can vary significantly. Homeowners in Noblesville encounter the highest median tax bill at $2,044, whereas those in Orestes see the lowest at $383. These variations directly impact homeowners' financial planning and budgeting.
Average Madison County Tax Bill
$1,130
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Madison County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alexandria | $210 | $523 | $988 | $1,607 | $2,421 |
| Anderson | $381 | $695 | $1,109 | $1,640 | $2,368 |
| Chesterfield | $373 | $527 | $778 | $1,167 | $1,855 |
| Elwood | $216 | $490 | $820 | $1,315 | $1,975 |
| Fairmount | $805 | $940 | $1,174 | $1,508 | $2,598 |
| Fortville | $187 | $713 | $1,484 | $2,751 | $4,219 |
| Frankton | $250 | $524 | $968 | $1,647 | $2,829 |
| Gaston | $1,809 | $1,849 | $1,915 | $1,981 | $2,021 |
| Ingalls | $157 | $402 | $1,095 | $1,772 | $2,770 |
| Lapel | $365 | $726 | $1,259 | $2,056 | $2,944 |
| Markleville | $304 | $605 | $1,229 | $1,964 | $3,003 |
| Middletown | $403 | $739 | $1,579 | $2,336 | $3,255 |
| Noblesville | $809 | $969 | $2,044 | $2,204 | $2,595 |
| Orestes | $93 | $212 | $383 | $849 | $1,245 |
| Pendleton | $307 | $1,261 | $1,997 | $2,872 | $3,993 |
| Summitville | $177 | $409 | $758 | $1,410 | $2,291 |
Source: Ownwell