Madison, California Property Taxes
The median property tax rate in Madison, CA is 1.03%, which is slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With the median home value in Madison at $125,592, the typical annual property tax bill is $1,312, falling below the national median of $2,690. Property taxes in Madison are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Madison's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Madison or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Madison, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
Ownwell’s Madison Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Madison. By simply entering your property's estimated assessed value, our calculator uses the median tax rate in Madison to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities, ensuring you are well-prepared for any financial obligations. For those interested in more detailed insights, including neighborhood-level trends, scroll down to explore localized information. Your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Madison, California
Property taxes in Madison, CA, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madison is 1.03%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Madison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madison estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Madison's effective property tax rate to other counties in California and the national median. For comparison, the 95653 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Madison provides valuable insights into the varying tax landscape across Yolo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madison Tax Rate
1.03%
Average Yolo County Tax Rate
1.24%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madison, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95653 | 0.98% | 1.00% | 1.03% | 1.07% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Madison, California
In Madison, California, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Yolo County Appraisal District for tax purposes. In contrast, the assessed value 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. In Madison, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Madison is $125,592, with tax bills ranging from $850 at the 25th percentile to $3,266 at the 90th percentile. The highest and lowest median tax bills are both $1,312, found in zip code 95653. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Madison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Madison Assessed Value
$125,592
Average Yolo County Assessed Value
$366,325
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madison, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95653 | $51,276 | $80,060 | $125,592 | $213,187 | $320,041 |
Source: Ownwell
Property Tax Bills Across Madison, California
In Madison, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the property's market value. The median home price in Madison is $125,592, and the property tax rate in this region is applied to this assessed value to determine the annual tax bill. Various factors influence the final tax bill, including local tax rates, any applicable exemptions, and special assessments. Homeowners in Madison can expect their property tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $850, while those at the 75th percentile reach approximately $2,226. The 90th percentile sees tax bills as high as $3,266. These variations highlight the impact of different property values and local assessments on homeowners. Compared to the national median property tax rate of 0.99%, Madison's rates reflect the unique economic and market conditions of the area, affecting how much residents pay annually.
Average Madison Tax Bill
$1,312
Average Yolo County Tax Bill
$4,610
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Madison, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95653 | $563 | $850 | $1,312 | $2,226 | $3,266 |
Source: Ownwell