Madison County, Texas Property Taxes
The median property tax rate in Madison County is 0.95%, which is slightly below the national median of 0.99% and considerably lower than Texas's state median of 1.67%. With a median home value of $154,920 in Madison County, the typical annual property tax bill amounts to $1,166, significantly less than the national median of $2,690. Property taxes in Madison County are based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural land. Understanding Madison County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you reside in Madisonville 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, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,472
$1,366
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, Texas
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 0.95%, which is lower than the Texas state median of 1.81% but still close to 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 Texas and the national median. For comparison, the city of Madisonville has one of the higher property tax rates in Texas at 1.13%, while the city of Normangee boasts one of the lowest at 0.57%. 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
0.95%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madison County, Texas
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bedias | 0.32% | 0.49% | 1.00% | 1.09% | 1.18% |
| Iola | N/A | N/A | N/A | N/A | N/A |
| Madisonville | 0.29% | 0.62% | 1.13% | 1.97% | 2.26% |
| Midway | 0.13% | 0.34% | 0.71% | 1.41% | 1.56% |
| Normangee | 0.12% | 0.33% | 0.57% | 1.15% | 1.79% |
| North Zulch | 0.15% | 0.36% | 0.72% | 1.24% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Madison County, Texas
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. In Madison County, the highest median tax bill is in Iola, at $1,682, while the lowest is in Midway, at $961. The median home price stands at $154,920, with tax bills ranging from $413 at the 25th percentile to $4,399 at the 90th percentile. 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
$154,920
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madison County, Texas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bedias | $97,560 | $124,218 | $145,105 | $172,532 | $212,406 |
| Iola | N/A | N/A | N/A | N/A | N/A |
| Madisonville | $13,742 | $52,330 | $138,820 | $261,345 | $475,496 |
| Midway | $20,358 | $53,995 | $159,660 | $390,680 | $745,940 |
| Normangee | $33,990 | $106,800 | $258,760 | $508,880 | $891,506 |
| North Zulch | $22,630 | $62,825 | $174,720 | $347,975 | $642,300 |
Source: Ownwell
Property Tax Bills Across Madison County, Texas
In Madison County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's appraisal district, which evaluates the market value of the property. Homeowners in Madison County face a range of property tax bills. For instance, the 25th percentile tax bill is $413, while the 75th percentile reaches up to $2,540, and the 90th percentile can go as high as $4,399. This variation highlights how different factors, such as property location and size, influence the final tax bill. Comparatively, Madison County's property tax rates can result in a higher financial burden than the national median property tax rate of 0.99%. For example, the highest median tax bill in the county is $1,682 in Iola, while the lowest is $961 in Midway. Understanding these factors is crucial for homeowners as it directly impacts their annual expenses and overall financial planning.
Average Madison County Tax Bill
$1,166
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Madison County, Texas
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bedias | $481 | $808 | $1,225 | $1,527 | $1,890 |
| Iola | N/A | N/A | N/A | N/A | N/A |
| Madisonville | $168 | $445 | $1,242 | $2,633 | $4,443 |
| Midway | $156 | $338 | $961 | $2,169 | $4,024 |
| Normangee | $199 | $530 | $1,373 | $2,886 | $5,260 |
| North Zulch | $119 | $338 | $1,018 | $2,440 | $4,304 |
Source: Ownwell