Madison County, IA Property Tax Search
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In-depth Madison County, IA Property Tax Information
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See detailed property tax information from the sample report for 551 long St, Madison County, IA
Property Tax Calculation
The Iowa property tax is primarily a tax on "real property", which is mostly land, buildings, structures, and other improvements that are constructed on or in the land, attached to the land, or placed upon a foundation.
Market Value
Market value is the amount for which a property would sell in a competitive and open market, presuming that both buyer and seller are knowledgeable about the sale, allow sufficient time for it, and are not affected by undue pressures (e.g. foreclosures and bankruptcy).
Assessed Value
The assessor (or the Iowa Department of Revenue) estimates the value of each property. This is called the gross assessed value. The gross assessed value is to be at actual or market value for most property taxes.
Net Assessed Value
The assessed value is multiplied by a rollback factor resulting in the Net Assessed Value. The rollback factor varies for each parcel, consequently it is not possible to display a single rollback percentage.
Exemptions and Taxable Value
Taxable value represents the assessed value less any tax exemptions that apply. Madison County provides several property exemptions like Homestead Tax Credit that may lower the property's tax bill.
We have no information about whether any exemptions currently apply to this property. Therefore, the taxable value will be equal to the assessed value.
Property Tax
Property tax is calculated by multiplying the property's assessed value by the millage rates applicable to it and is an estimate of what an owner not benefiting from any exemptions would pay. The rates are expressed as millages (i.e the actual rates multiplied by 1000).
Notice that we used 2025-2026 millage rates since 2026-2027 values are not available yet.
Actual taxes might differ from the figures displayed here due to various abatements and financial assistance programs or other exemptions not included in our calculations. For more information please visit the web pages of Madison County's Assessor and Treasurer or look up this property's current valuation and tax situation. Also, for a general overview of the Iowa property taxation you can access the State of Iowa's Department of Revenue.
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Frequently Asked Questions on Property Taxes
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