Average Tax Assessment in Madison County
Real Estate Values and Property Tax Valuation in Madison County, Florida
Madison County has a total of 6,571 properties with a cumulative value of $666.1M. This accounts for 0.03% of all real estate value in Florida. Property taxes in Madison County totaled $6.1M, with an average homeowner paying $943 in property taxes compared to the state average of $3,597. The average property tax rate in Madison County is 0.91%, while the state average is 1.34%. Properties are valued for tax purposes based on their assessed value, which is typically lower than the market value.
In Florida, property values are assessed on January 1st. Property value notices are issued in August and property tax appeal deadlines are typically 25 days from the date of the value notices, which is usually in September. Property tax bills are issued on November 1st.
Updated November 01, 2023
| Important Links | |
|---|---|
| Madison Register of Deeds | (828) 649-3131 |
| Madison Clerk | (936) 348-2638 |
| Madison Appraisal District | (936) 348-2783 |
| TexasFile Clerk Records | - |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | August |
| Property Tax Appeal Deadline: | September or 25 days from date of value notices |
| Property Tax Bills Issued: | November 1st |
| Real Property Tax Bill Due (1st of #): | March 31st |
| Available Exemptions | |
|---|---|
| Early Payment Discount | Available |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
Don't Miss Your Property Tax Appeal Deadline
Real Estate Statistics in Madison County
Residential Property Taxes by Cities in Madison County
Madison County has an average property tax rate of 0.91%, which is slightly lower than the national average of 1.07%. Property taxes in Madison County are collected by the county government and are used to fund public services such as schools, roads, and public safety. The city of Madison has the highest effective property tax rate in the county at 0.98%, while the city of Greenville has the lowest effective property tax rate at 0.8%. This means that property owners in Madison will pay a higher rate than those in Greenville. However, the difference in rates is not significant and property owners in Madison County can expect to pay an average of $943 in property taxes each year.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Madison County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | $18,461 | $34,058 | $65,700 | $125,700 | $223,248 |
| Lee | $26,039 | $45,411 | $76,345 | $126,954 | $194,900 |
| Madison | $22,761 | $39,603 | $68,417 | $125,139 | $196,379 |
| Pinetta | $26,169 | $48,667 | $82,940 | $145,856 | $226,742 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Madison County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | $78 | $271 | $558 | $1,012 | $1,883 |
| Lee | $219 | $326 | $617 | $1,110 | $1,863 |
| Madison | $168 | $334 | $624 | $1,225 | $2,113 |
| Pinetta | $149 | $298 | $592 | $1,219 | $2,272 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | 0.42% | 0.80% | 0.85% | 0.81% | 0.84% |
| Lee | 0.84% | 0.72% | 0.81% | 0.87% | 0.96% |
| Madison | 0.74% | 0.84% | 0.91% | 0.98% | 1.08% |
| Pinetta | 0.57% | 0.61% | 0.71% | 0.84% | 1.00% |
Reduce your property tax bill with Ownwell!
Real Estate Values in Madison County
The median home price in Madison County, Florida has seen a dramatic increase of 494.41% from October 2022 to October 2023, rising from $85.0K to $425.0K. This is likely due to the decrease in home inventory in the area, which has dropped from 47 homes in October 2022 to 43 homes in October 2023. This indicates that demand for homes in Madison County is high and that prices are likely to continue to rise in the future.
Average Home Value in Madison County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Madison County
Last updated: November 2023
Percent Change in New Home Listings in Madison County
Last updated: November 2023
Reduce your property tax bill with Ownwell
Mortgage Rates in Madison County
Mortgages in Madison County are a major part of the local economy, with a total of $112.1M in outstanding loans across the county. This represents a significant portion of the total home value in the area, with an average of 952 outstanding loans in Madison County. The median mortgage rate in Madison County varies significantly across cities, with Greenville having the highest median rate of 4.4%, while Pinetta has the lowest median rate of 4.03%. This variation in rates can make a significant difference in the amount of money that homeowners in Madison County pay for their mortgages. As such, it is important for homeowners to research the rates in their area to ensure they are getting the best deal possible.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Madison County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | $21,203 | $40,352 | $86,994 | $135,467 | $229,877 |
| Lee | $16,344 | $37,508 | $80,162 | $133,250 | $193,849 |
| Madison | $16,505 | $45,271 | $82,229 | $141,824 | $222,175 |
| Pinetta | $18,339 | $43,773 | $94,137 | $166,697 | $274,526 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Madison County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | 2.99% | 3.62% | 4.40% | 5.71% | 6.44% |
| Lee | 3.00% | 3.60% | 4.30% | 5.50% | 6.21% |
| Madison | 2.90% | 3.52% | 4.20% | 5.50% | 6.36% |
| Pinetta | 2.90% | 3.55% | 4.03% | 4.92% | 6.55% |
Housing Expenses in Madison County, Florida
Reduce your property tax bill with Ownwell
With Ownwell's property tax monitoring service ensures you'll never overpay on property taxes again.
How Ownwell works?
- Enter your property address and get an instant estimate of your potential tax savings based on local market data and our historical tax savings in your area.
- Sign up online and authorize Ownwell to fight your tax bill in less than 5 minutes.
- Sit back and let us get to work. Ownwell handles everything start to finish with no up-front costs. It’s all backed by our industry-leading Savings-or-Free Guarantee.
- When we save you money our fee is just 25% of your savings. If you don't save, you don't pay. We will continue to monitor your property taxes every year to ensure that you never overpay or have to worry about your property taxes again.