Rate Breakdown

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

How Property Tax Works in Madison County

In Madison County, Virginia, property taxes are calculated based on the assessed value of your property and the applicable tax rate (millage rate). The county assesses real estate at 100% of its fair market value, as determined by periodic reassessments. The local government then applies a millage rate—a tax rate per $1,000 of assessed value—to determine your annual tax bill. For example, if your home is assessed at $300,000 and the millage rate is $0.75 per $100 of value, your annual tax would be $2,250.

• Assessment Process: Properties are reassessed periodically to reflect current market conditions. Notices are mailed to property owners with updated values.
• Millage Rates: Rates are set annually by the Board of Supervisors and may vary for residential, agricultural, and commercial properties.

Available Exemptions

Madison County offers several exemptions to reduce property tax burdens for eligible residents. These include:

• Homestead Exemption: Virginia does not have a statewide homestead exemption, but some localities may offer relief for primary residences.
• Senior Citizen Exemption: Residents aged 65+ or permanently disabled may qualify for tax relief based on income and asset limits.
• Disability Exemption: Disabled veterans or individuals with total disability may be eligible for partial or full tax exemptions.
• Veteran Exemptions: Veterans with service-connected disabilities or surviving spouses may qualify for reduced assessments.

Applications for exemptions must be submitted to the Madison County Commissioner of the Revenue.

Payment Schedule & Deadlines

Madison County property taxes are typically due in two installments:

• First Half: Due by June 5.
• Second Half: Due by December 5.

Payments can be made online, by mail, or in person at the Treasurer’s Office. Late payments incur penalties and interest:

• Penalty: 10% of the unpaid balance after the deadline.
• Interest: 10% annual interest on overdue amounts.

Appealing Your Assessment

If you believe your property is overassessed, you can appeal the valuation:

• Step 1: File an appeal with the Madison County Assessor’s Office within 30 days of receiving your assessment notice.
• Step 2: Provide evidence such as recent sales of comparable properties or an independent appraisal.
• Step 3: Attend a hearing before the Board of Equalization, which will review your case and issue a decision.

If unsatisfied, you may further appeal to the Virginia Circuit Court.