Rate Breakdown

Property taxes in Madison County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

Authority	Avg. Rate
County General Fund	0.45%
School District (Avg)	1.20%
City / Local (Avg)	0.35%

How Property Tax Works in Madison County

Property tax is a crucial source of funding for public schools, infrastructure projects, and various local services in Illinois. In Madison County, the property tax process involves several key steps: **Assessment:** Every property in Madison County is assessed by the county's official assessor's office to determine its current market value. This appraisal considers factors such as size, age, location, condition, and recent sales of similar properties. * The State of Illinois has a strict assessment process for accuracy and fairness. * Appeals are available if you believe your assessment is incorrect. **Mill Rates:** Your property tax bill reflects the combined impact of two key components: * **Rate per $100 of Assessed Value:** This represents the amount of money that will be levied against your property for every $100 of assessed value. * **Assessed Value:** The assessed value is derived from the assessment process and directly impacts the overall tax burden. The mill rate in Madison County can vary, and you'll find these rates on your local tax bills. ### Available Exemptions Illinois offers several exemptions to qualified homeowners, senior citizens, veterans, and others. These deductions help reduce the total property taxes you owe. * **Homestead Exemption:** This exemption provides a reduction in the assessed value of your primary residence for eligible homeowners with children or disabled family members. * The Homestead exemption caps at $10,000 per household * Eligibility is based on residency and income. * **Senior Citizen Exemption:** This exemption offers a discount on the assessed value for senior citizens over age 65 living in their homes. * **Disability Exemption:** This exemption allows individuals with disabilities to reduce their assessed value, which may qualify for lower tax bills. * For more information about eligibility criteria and the process of applying for this exemption, visit the Illinois Department of Revenue website or contact your local assessor's office directly. * **Veteran Exemption:** This exemption recognizes veterans who have served in active duty. **Note:** The exact details of these exemptions and how to claim them may vary. It is crucial to check with the Madison County Assessor's Office for up-to-date information and application procedures. ### Payment Schedule & Deadlines Understanding when and how you need to pay your property taxes ensures a smooth process throughout the year: * **Property Tax Bills:** Usually mailed in the fall or early winter, the tax bill will outline the exact amount due, including assessment, mill rate, and any applicable exemptions. * **Payment Due Date:** The deadline for paying the full balance of your property taxes is January 1st (or an adjusted date). * **Installment Payments:** You can opt to spread out payments over a period of time by choosing an installment payment plan. * **Late Payment Consequences:** Late payments may incur additional penalties or interest charges, so it's best to stay current on your tax payments throughout the year. ### Appealing Your Assessment If you feel your property assessment is incorrect, there are several steps you can take: 1. **Request an Informal Review:** Contact the Madison County Assessor's Office directly and initiate a discussion regarding your concerns about the assessment. 2. **Formal Appeal:** If your informal review is unsuccessful, file a formal appeal with the county's Tax Appeals Board, which will ultimately conduct a more in-depth review of your property value. The assessment process is a complex one and it’s important to stay informed about your rights and options when it comes to your property taxes. You can find additional information on the Madison County Assessor's Office website or by contacting their office directly for specific questions.