Madisonville, Madison County, Texas Property Taxes
The median property tax rate in Madisonville, TX is 1.13%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $138,820, the typical annual property tax bill in Madisonville amounts to $1,242, which is below the national median of $2,690. Property taxes in Madisonville are determined based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural use. Gaining a thorough understanding of Madisonville's property tax system, exploring potential exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you reside in the bustling center of Madisonville or its quieter outskirts, being well-informed about the local property tax system can greatly benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Madisonville, Madison County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,569
$1,456
Ownwell’s Madisonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Madisonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Madisonville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Madisonville, Madison County, Texas
Property taxes in Madisonville, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madisonville is 1.13%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Madisonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madisonville 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 Madisonville's effective property tax rate to other counties in Texas and the national median. For comparison, the 77864 zip code has the highest median property tax rate of 1.13%, while the lowest median tax rate is also 1.13%. Understanding how these cities compare with Madisonville provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madisonville Tax Rate
1.13%
Average Madison County Tax Rate
0.95%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madisonville, Madison County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77864 | 0.29% | 0.62% | 1.13% | 1.97% | 2.26% |
Source: Ownwell
Property Tax Assessment Values Across Madisonville, Madison County, Texas
In Madisonville, Texas, 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 Madison 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 Madisonville, 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. 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 Madisonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Madisonville is $138,820, with median tax bills ranging from $445 at the 25th percentile to $4,443 at the 90th percentile. Notably, the highest and lowest median tax bills are both found in the 77864 zip code, each amounting to $1,242.
Property Tax Assessment Values Across Madisonville, Madison County, Texas
Source: Ownwell
$138,820
$198,790
$258,760
Average Madisonville Assessed Value
$138,820
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 Madisonville, Madison County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77864 | $13,742 | $52,330 | $138,820 | $261,345 | $475,496 |
Source: Ownwell
Property Tax Bills Across Madisonville, Madison County, Texas
In Madisonville, 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 assessor and reflects the market value of the property. Homeowners in Madison County can expect a wide range of tax bills, with the 25th percentile at $445 and the 75th percentile at $2,633. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, homes in the zip code 77864 have a median tax bill of $1,242, which is the highest and lowest median tax bill in the area. Compared to the national median property tax rate of 0.99%, Madisonville's tax rates may vary but generally reflect the region's economic conditions and public service needs. High property taxes can impact homeowners by increasing the cost of owning a home, while lower taxes can make homeownership more affordable. Understanding these factors helps homeowners anticipate their financial responsibilities.
Average Madisonville Tax Bill
$1,242
Average Madison County Tax Bill
$1,166
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Madisonville, Madison County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77864 | $168 | $445 | $1,242 | $2,633 | $4,443 |
Source: Ownwell