Madison, Jefferson County, Indiana Property Taxes
Property Taxes in Madison, Indiana
Median Madison, Indiana effective property tax rate: 1.00%, significantly lower than the national median of 1.02%, and lower than the Indiana state median of 1.01%.
Median Madison, Indiana home value: $127,200
Median annual Madison, Indiana tax bill: $1,362, $1,038 lower than the national median property tax bill of $2,400.
How are property taxes in Jefferson calculated?
Property taxes in Madison, Indiana are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Madison's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Madison, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Madison, Jefferson County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1%
Estimate Property Tax Bill
$1,272
$1,180
How Does the Madison Property Tax Calculator Work?
Use this Madison property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Madison's median effective tax rate of 1.00% — based on actual property records in Jefferson County — to generate your estimate.
Enter your property's estimated assessed value — the figure used to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Madison's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Madison: rates are the same at 1.00% in 47250, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Madison.
About Madison Property Taxes
About Property Taxes in Madison, Jefferson, Indiana
Madison's median effective property tax rate of 1.00% is lower than the Indiana state median of 1.01% and lower than the national median of 1.02%. This rate reflects the Jefferson County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Madison. Homeowners in the 47250 ZIP code carry a median effective rate of 1.00%, while those in the same ZIP code also pay 1.00%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Jefferson County. Understanding which part of Madison you live in can make a meaningful difference to your annual tax bill.
Madison homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 15, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Madison, Jefferson County, Indiana
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Madison's effective property tax rate to other cities in Indiana and the median property tax rates in Indiana and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Madison Tax Rate
1.00%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Jefferson County Tax Rate
1.00%
Median Effective Indiana Tax Rate
1.01%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Madison, Jefferson County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47250 | 0.55% | 0.79% | 1.00% | 1.87% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Madison, Jefferson County, Indiana
When examining property taxes in Madison, Indiana, understanding the distinction between market value and assessed value is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Jefferson County assessor estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Jefferson County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of May.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Madison.
For example, the median home price in Madison is $127,200, with tax bills ranging significantly across the county. 47250 has the highest median home price at $127,200.
Property Tax Assessment Values Across Madison, Jefferson County, Indiana
Source: Ownwell
$64,150
$107,075
$150,000
Median Madison Market Value
$127,200
Median Jefferson County Market Value
$119,600
Median Indiana Market Value
$186,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Madison, Jefferson County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47250 | $50,100 | $83,500 | $127,200 | $184,600 | $245,900 |
Source: Ownwell
Property Tax Bills Across Madison, Jefferson County, Indiana
Property tax bills in Madison are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. The assessed value is then adjusted by any exemptions or deductions that may apply, and the final bill reflects the combined rates from local taxing authorities. For homeowners, this means the amount due can change when property values rise or when local budgets shift.
With a median home price of $127,200, Madison homeowners often see bills that vary widely depending on the home and neighborhood. The 25th percentile tax bill is $748, while the 75th percentile is $2,021 and the 90th percentile reaches $2,863. The median tax bill in ZIP code 47250 is $1,362, which is below the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
Median Madison Tax Bill
$1,362
Median Jefferson County Tax Bill
$1,255
Median Indiana Tax Bill
$1,964
Median United States Tax Bill
$2,400
Property Tax Bills Across Madison, Jefferson County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47250 | $367 | $748 | $1,362 | $2,021 | $2,863 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 15 |
Links | |
|---|---|
| Jefferson Tax Assessor | |
| Website | jeffersoncounty.in.gov |