Average Tax Assessment in Madison County
Real Estate Values and Property Tax Valuation in Madison County, Texas
Madison County has a total of 5,190 properties with a cumulative value of $963.4M. This represents 0.05% of all real estate value in Texas. Property taxes in Madison County totaled $8.5M, with an average homeowner paying $1,671 in property taxes compared to the state average of $4,015. The average property tax rate in Madison County is 0.88%, while the state average is 1.69%. Property values for tax purposes are determined by the local appraisal district and are based on the market value of the property.
The property tax timeline in Texas begins on January 1st, when the property valuation date is set. Property value notices are issued between April and May, and the property tax appeal deadline is May 15th or 30 days after the notices are issued. The real property tax bill is due on January 31st for the preceding year's gross tax bills.
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 | |
|---|---|
| Real Property Tax Bill Due (1st of #): | January 31st, Gross tax bills for preceding year |
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | April - May |
| Property Tax Appeal Deadline: | May 15th or 30 days after notices are issued |
| Property Tax Bills Issued: | October 1st |
| Available Exemptions | |
|---|---|
| Early Payment Discount | |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Madison County
Residential Property Taxes by Cities in Madison County
Madison County has an average property tax rate of 0.88%, which is slightly lower than the national average of 1.07%. This rate is applied to all properties in the county, regardless of the city. However, the effective property tax rate can vary significantly from city to city. Madisonville has the highest effective property tax rate in the county at 1.07%, while Midway has the lowest effective property tax rate at 0.65%. This means that property owners in Madisonville will pay more in property taxes than those in Midway. In 2023, Madison County is expected to collect $8.5M in property taxes, which is a significant amount of revenue for the county.
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 |
|---|---|---|---|---|---|
| Madisonville | $10,000 | $33,270 | $85,690 | $177,595 | $338,260 |
| Midway | $11,440 | $31,650 | $94,050 | $260,770 | $510,546 |
| Normangee | $26,750 | $75,370 | $176,470 | $381,230 | $684,500 |
| North Zulch | $14,228 | $37,650 | $107,360 | $251,700 | $456,554 |
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 |
|---|---|---|---|---|---|
| Madisonville | $173 | $437 | $1,121 | $2,349 | $3,937 |
| Midway | $146 | $281 | $812 | $1,910 | $3,711 |
| Normangee | $215 | $551 | $1,354 | $2,701 | $4,881 |
| North Zulch | $125 | $349 | $963 | $2,237 | $3,919 |
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 |
|---|---|---|---|---|---|
| Madisonville | 1.73% | 1.31% | 1.31% | 1.32% | 1.16% |
| Midway | 1.28% | 0.89% | 0.86% | 0.73% | 0.73% |
| Normangee | 0.80% | 0.73% | 0.77% | 0.71% | 0.71% |
| North Zulch | 0.88% | 0.93% | 0.90% | 0.89% | 0.86% |
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Real Estate Values in Madison County
The data from Redfin shows that the median home price in Madison County, Texas has increased by 30.03% from October 2022 to October 2023. This indicates that the housing market in Madison County is becoming increasingly competitive, as the number of homes available for sale has decreased from 42 in October 2022 to 28 in October 2023. This suggests that demand for housing in Madison County is increasing, leading to higher prices.
Average Home Value in Madison County, Texas
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
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Mortgage Rates in Madison County
Mortgages in Madison County are a major source of financing for homeowners. According to recent statistics, there is a total of $213.5 million in outstanding loan amounts across home mortgages in the county. This amount represents nearly one thousand loans, with 993 outstanding. The median mortgage rate in Madisonville is 4.13%, while the median mortgage rate in Normangee is also 4.13%. This indicates that there is little variation in mortgage rates across the county.
Overall, the total outstanding loan amount in Madison County is a significant portion of the total home value in the area. This amount is equivalent to approximately 5.2% of the total home value in the county. This indicates that mortgages are a major source of financing for homeowners in Madison County. The relatively low variation in mortgage rates across the county also suggests that the market is stable and competitive.
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 |
|---|---|---|---|---|---|
| Madisonville | $21,640 | $44,224 | $86,689 | $160,456 | $244,029 |
| Midway | $24,152 | $58,976 | $129,107 | $227,652 | $353,348 |
| Normangee | $28,390 | $65,146 | $111,385 | $223,619 | $416,912 |
| North Zulch | $27,873 | $60,221 | $136,005 | $211,182 | $296,691 |
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 |
|---|---|---|---|---|---|
| Madisonville | 2.90% | 3.50% | 4.13% | 4.92% | 6.11% |
| Midway | 2.90% | 3.46% | 3.99% | 4.61% | 5.94% |
| Normangee | 2.90% | 3.60% | 4.13% | 4.85% | 5.78% |
| North Zulch | 2.80% | 3.40% | 3.89% | 4.68% | 5.73% |
Housing Expenses in Madison County, Texas
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