Property Taxes in Madison, Virginia
Median Madison, Virginia effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Madison, Virginia home value: $219,300
Median annual Madison, Virginia tax bill: $1,591, $809 lower than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in Madison, Virginia 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
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 0.74% — based on actual property records in Madison County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses 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 rate.
Madison's property tax rate is lower than Virginia's 0.90% state median tax rate and lower than Madison County's median rate. The median property tax bill is $1,591, which is $809 lower than the state median bill.
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, Madison, Virginia
Madison’s median effective property tax rate of 0.74% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Madison 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 22727 ZIP code carry a median effective rate of 0.74%, while those in 22727 pay 0.74%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Madison 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 March 5, 2025 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, Madison County, Virginia
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 Virginia and the median property tax rates in Virginia 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
0.74%
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 County Tax Rate
0.74%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Madison, Madison County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22727 | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Madison, Madison County, Virginia
When examining property taxes in Madison, Virginia, 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 Madison 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.
Assessment notices:
In Madison County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of February.
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. For example, the median home price in Madison is $219,300, with tax bills at $1,591. The highest median home price is in 22727 at $219,300. Compared with the national median property tax rate of 1.02% and national median property tax bill of $2,400, Madison property taxes remain an important factor for homeowners to review.
Property Tax Assessment Values Across Madison, Madison County, Virginia
Source: Ownwell
$124,600
$194,925
$265,250
Median Madison Market Value
$219,300
Median Madison County Market Value
$212,100
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Madison, Madison County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22727 | $106,680 | $150,400 | $219,300 | $304,350 | $399,490 |
Source: Ownwell
Property Tax Bills Across Madison, Madison County, Virginia
Property tax bills in Madison are calculated by multiplying a home’s assessed value by the local tax rate, then applying any exemptions or adjustments that may reduce the final amount. The assessed value is based on the market value of the property, so changes in home prices can affect what homeowners owe.
With a median home price of $219,300, the typical tax bill in Madison reflects how local assessments translate into annual costs. The 25th percentile tax bill is $1,087, while the 75th percentile is $2,206, showing that bills can vary widely depending on a property’s value and assessment. At the high end, the 90th percentile tax bill reaches $2,887.
For homeowners, this means property taxes can be a significant part of housing costs, especially when assessed values rise. In Madison, understanding how the bill is determined can help homeowners better anticipate what they may owe each year.
Median Madison Tax Bill
$1,591
Median Madison County Tax Bill
$1,540
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Madison, Madison County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22727 | $775 | $1,087 | $1,591 | $2,206 | $2,887 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | March 5 |
Links | |
|---|---|
| Madison Tax Assessor | |
| Website | www.webgis.net |