Madison County, Louisiana Property Taxes
The median property tax rate in Madison County is 1.39%, which is significantly higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Madison County, the typical annual property tax bill reaches $491, which is well below the national median of $2,690. Property taxes in Madison County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Madison County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Tallulah or another part of Madison County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Madison County, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$528
$490
Ownwell’s Madison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Madison with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Madison 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’s 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, Louisiana
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 1.39%, which is higher than both the Louisiana 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 Louisiana and the national median. For comparison, the city of Tallulah has one of the higher property tax rates in Louisiana at 1.39%, while the city of Epps boasts one of the lowest at 1.10%. 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
1.39%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Madison County, Louisiana
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Madison. 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 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 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. Being aware of these valuation processes in Madison will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Madison, the city with the highest median tax bill is Delhi at $616, while Delta has the lowest at $269. This highlights the variability within the county and underscores the importance of understanding your specific property’s assessed value.
Average Madison County Assessed Value
$38,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Bills Across Madison County, Louisiana
In Madison County, LA, property tax bills are calculated based on the assessed value of your home, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Madison County experience a range of property tax bills, with the 25th percentile paying around $311 and the 75th percentile seeing bills up to $814. At the higher end, the 90th percentile of homeowners face tax bills as high as $1,434. The city of Delhi holds the highest median tax bill at $616, while Delta has the lowest at $269. These figures highlight the variability within the county, influenced by factors such as property location, size, and market conditions. Compared to the national median property tax rate of 0.99%, Madison County's rates can significantly impact homeowners, particularly those in higher-value properties or areas with higher local tax rates.
Average Madison County Tax Bill
$491
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690