Madison Heights, Amherst County, Virginia Property Taxes
Median Madison Heights, VA effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Madison Heights, VA home value: $123,900
Median annual Madison Heights, VA tax bill: $749, $1,651 lower than the national median property tax bill of $2,400.
How are property taxes in Amherst calculated?
Property taxes in Madison Heights, VA 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 Heights’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Madison Heights, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Madison Heights, Amherst County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.61%
Estimate Property Tax Bill
$756
$701
Property Tax Rates Across Madison Heights, Amherst County, Virginia
Local government entities are responsible for setting property tax rates, which can differ significantly within a state. This is because each county annually calculates its necessary budget to provide public services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in determining tax rates and budgets, this is the basic process followed each year.
In Madison Heights, located in Amherst County, VA, the effective property tax rate is 0.61%, which is notably lower than the national median property tax rate of 1.02%. This means that residents of Madison Heights benefit from a more favorable tax rate compared to many other areas in the United States. The median property tax bill in Madison Heights is also likely below the national median of $2,400, offering further financial relief to homeowners. When comparing Madison Heights to other cities in Virginia, it stands out for its relatively low tax burden, making it an attractive location for property owners seeking to minimize their annual tax expenses.
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 Heights Tax Rate
0.61%
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 Amherst County Tax Rate
0.61%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Madison Heights, Amherst County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24572 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Madison Heights, Amherst County, Virginia
When examining property taxes in Madison Heights, VA, 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 Amherst County appraisal district 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.
In Amherst County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Heights.
For example, the median home price in Madison Heights is $123,900, with tax bills ranging significantly across the county. Zip code 24572 has the highest median home price at $123,900.
Property Tax Assessment Values Across Madison Heights, Amherst County, Virginia
Source: Ownwell
$78,900
$121,475
$164,050
Median Madison Heights Market Value
$123,900
Median Amherst County Market Value
$130,550
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Madison Heights, Amherst County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24572 | $52,600 | $85,200 | $123,900 | $164,400 | $231,620 |
Source: Ownwell
Property Tax Bills Across Madison Heights, Amherst County, Virginia
Median Madison Heights Tax Bill
$749
Median Amherst County Tax Bill
$778
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Madison Heights, Amherst County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24572 | $294 | $504 | $749 | $997 | $1,386 |
Source: Ownwell