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Madison County, IN Property Tax Search

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In-depth Madison County, IN Property Tax Information

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See detailed property tax information from the sample report for 9720 oak Grv, Madison County, IN

Property Tax Calculation

Property taxes in Indiana are overseen by the Indiana's Department of Local Government Finance and administered and collected by local government officials and represent a primary source of funding for local government units, including counties, cities and towns, townships, libraries and other special districts like fire districts and solid waste districts.

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

Assessed value is the basis for calculating property tax and, generally, represent 100% of a property's market value. Local assessing officials assess the value of real property annually on March 1.

Exemptions and Taxable Value

Exemptions and deductions are available in State of Indiana, which may lower the property's tax bill. These are deducted from the assessed value to give the property's taxable value.

Notice that we used 2023 Exemption / Deduction Values since 2024 values are not available yet.

Property Tax

Base tax is calculated by multiplying the property's assessed value by all the tax rates applicable to it and is an estimate of what an owner not benefiting from any exemptions would pay. The tax rates are expressed as dollars per 100 of assessed value, therefore the tax amount is already divided by 100 in order to obtain the correct value.

Tax description	Assessed value		Tax rate		Tax amount
Base tax	$311,900	x	2.0566	=	$6,415

Taxes with exemptions represents the amount the present owner pays including exemptions / deductions.

Tax description	Taxable value		Tax rate		Tax amount
Taxes with exemptions	$168,620	x	2.0566	=	$3,468

Current tax represents the amount the present owner pays including exemptions / deductions and credit values.

Notice that we used 2023 Credit Values since 2024 values are not available yet.

Taxes with exemptions					$3,468
Credit value				-	$630
Current tax				=	$2,838

Actual taxes might differ from the figures displayed here due to various abatement and financial assistance programs. For more information please visit Madison County's Assessor, Auditor or look up this property's current valuation and tax situation.

Assessment History

Year	Property class	Market value	Assessment value	Total tax rate	Property tax
2024	One Family Dwelling on a Platted Lot	$311,900	$311,900	2.0566	$6,415
2023	One Family Dwelling on a Platted Lot	$286,200	$286,200	2.4433	$6,993
2022	Residential Vacant Platted Lot	$900	$900	2.4668	$22
2021	Residential Vacant Platted Lot	$900	$900	2.7371	$25
2020	Residential Vacant Platted Lot	$800	$800	3.0091	$24

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Madison County Stats for Property Taxes

Explore the charts below for quick facts on Madison County effective tax rates, median real estate taxes paid, home values, income levels and homeownership rates, and compare them to state and nationwide trends.

Effective tax rate (%)

Madison County

0.78% of Assessed Home Value

Indiana

0.77% of Assessed Home Value

National

1.02% of Assessed Home Value

Median real estate taxes paid

Madison County

$1,051

Indiana

$1,415

National

$2,869

Median home value

Madison County

$135,100

Indiana

$183,600

National

$281,900

Median income

Madison County

$60,060

Indiana

$67,173

National

$75,149

Owner occupied housing (%)

Madison County

70.2%

Indiana

70.1%

National

64.8%

Renter occupied housing (%)

Madison County

29.8%

Indiana

29.9%

National

35.2%

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Land value		$59,500
Improvement value	+	$252,400
Market value	=	$311,900

Madison County, IN Property Tax Search

Want to see what the taxes are for a certain property?

Your search for Madison County, IN property taxes is now as easy as typing an address into a search bar! Simply fill in the exact address of the property in the search form.

Property Taxes

In-depth Madison County, IN Property Tax Information

See detailed property tax information from the sample report for 9720 oak Grv, Madison County, IN

Property Tax Calculation

Assessment History

Madison County Stats for Property Taxes

Effective tax rate (%)

Median real estate taxes paid

Median home value

Median income

Owner occupied housing (%)

Renter occupied housing (%)

Frequently Asked Questions on Property Taxes

Tap into one of the biggest real estate data sources and save time and effort with PropertyShark

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Assessed value		$311,900
Deduction Value	-	$143,280
Taxable value	=	$168,620