Madison County Property Tax Rate 2024 [Go To Different County]

Madison County, Iowa Property Tax
[Go To Different County]

$1,917.00

Avg. 1.32% of home value

Yearly median tax in Madison County

The median property tax in Madison County, Iowa is $1,917 per year for a home worth the median value of $145,400. Madison County collects, on average, 1.32% of a property's assessed fair market value as property tax.

Madison County has one of the highest median property taxes in the United States, and is ranked 499th of the 3143 counties in order of median property taxes.

The average yearly property tax paid by Madison County residents amounts to about 3.12% of their yearly income. Madison County is ranked 535th of the 3143 counties for property taxes as a percentage of median income.

You can use the Iowa property tax map to the left to compare Madison County's property tax to other counties in Iowa. Johnson County collects the highest property tax in Iowa, levying an average of $2,526.00 (1.43% of median home value) yearly in property taxes, while Pocahontas County has the lowest property tax in the state, collecting an average tax of $561.00 (1% of median home value) per year.

To compare Madison County with property tax rates in other states, see our map of property taxes by state.

Madison County Property Tax Rate

Because Madison County uses a complicated formula to determine the property tax owed on any individual property, it's not possible to condense it to a simple tax rate, like you could with an income or sales tax.

Instead, we provide property tax information based on the statistical median of all taxable properties in Madison County. The median property tax amount is based on the median Madison County property value of $145,400. You can use these numbers as a reliable benchmark for comparing Madison County's property taxes with property taxes in other areas.

Our data allows you to compare Madison County's property taxes by median property tax in dollars, median property tax as a percentage of home value, and median property tax as a percentage of the Madison County median household income.

Note: This page provides general information about property taxes in Madison County. If you need specific tax information or property records about a property in Madison County, contact the Madison County Tax Assessor's Office.

Madison County Property Tax Calculator

Madison County Property Tax Appeal

Madison County calculates the property tax due based on the fair market value of the home or property in question, as determined by the Madison County Property Tax Assessor. Each property is individually t each year, and any improvements or additions made to your property may increase its appraised value.

As a property owner, you have the right to appeal the property tax amount you are charged and request a reassessment if you believe that the value determined by the Madison County Tax Assessor's office is incorrect. To appeal the Madison County property tax, you must contact the Madison County Tax Assessor's Office.

You will be provided with a property tax appeal form, on which you will provide the tax assessor's current appraisal of your property as well as your proposed appraisal and a description of why you believe your appraisal is more accurate.

Previous appraisals, expert opinions, and appraisals for similar properties may be attached to the appeal as supporting documentation. If your appeal is successful, your property will be reassessed at a lower valuation and your Madison County property taxes will be lowered accordingly.

If your appeal is denied, you still have the option to re-appeal the decision. If no further administrative appeals can be made, you can appeal your Madison County tax assessment in court.

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Madison County Property Tax Assessor

The Madison County Tax Assessor is responsible for assessing the fair market value of properties within Madison County and determining the property tax rate that will apply. The Tax Assessor's office can also provide property tax history or property tax records for a property. These property tax records are excellent sources of information when buying a new property or appealing a recent appraisal.

Most county assessors' offices are located in or near the county courthouse or the local county administration building. You can look up the Madison County Assessor's contact information here (opens in external website).

What is the Madison County Property Tax?

Proceeds from the Madison County Personal Property Tax are used locally to fund school districts, public transport, infrastructure, and other municipal government projects. Property tax income is almost always used for local projects and services, and does not go to the federal or state budget.

Unlike other taxes which are restricted to an individual, the Madison County Property Tax is levied directly on the property. Unpaid property tax can lead to a property tax lien, which remains attached to the property's title and is the responsibility of the current owner of the property. Tax liens are not affected by transferring or selling the property, or even filing for bankruptcy. Property tax delinquency can result in additional fees and interest, which are also attached to the property title.

In cases of extreme property tax delinquency, the Madison County Tax Board may seize the delinquent property and offer it for sale at a public tax foreclosure auction, often at a price well under market value. Proceeds of the sale first go to pay the property's tax lien, and additional proceeds may be remitted to the original owner.

Madison County Homestead Exemption

For properties considered the primary residence of the taxpayer, a homestead exemption may exist. The Madison County Homestead Exemption can reduce the appraised valuation of a primary residence before calculating the property tax owed, resulting in a lower annual property tax rate for owner-occupied homes.

Getting a Homestead Exemption may also help protect your home from being repossessed in the case of a property tax lien due to unpaid Madison County property taxes or other types of other debt.

In most counties, you must specifically submit a homestead exemption application to your county tax assessor in order to enjoy the tax reduction and other benefits available. To get a copy of the Madison County Homestead Exemption Application, call the Madison County Assessor's Office and ask for details on the homestead exemption program. You can also ask about other exemptions that may exist for veterans, seniors, low-income families, or property used for certain purposes such as farmland or open space.

Madison County Property Tax Deduction

You can usually deduct 100% of your Madison County property taxes from your taxable income on your Federal Income Tax Return as an itemized deduction. Iowa may also let you deduct some or all of your Madison County property taxes on your Iowa income tax return.

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