Madison County Property Taxes (Huntsville, New Hope: insurance, refinance, attorneys)

[Brasstec]

OK, check my figures....Madison County site says property taxes are .0575. Does that mean if my house appraises for 100K, I'm gonna have annual property taxes of $5750?! I MUST be off a decimal point....

[Charles]

Originally Posted by Brasstec

OK, check my figures....Madison County site says property taxes are .0575. Does that mean if my house appraises for 100K, I'm gonna have annual property taxes of $5750?! I MUST be off a decimal point....

You're off by a decimal point. Taxes would be $57,500 per year.



Just kidding, $575/year. Pretty cheap.

Looks like they're off by a decimal point???

http://www.co.madison.al.us/services/taxc/

[LCTMadison]

I'll give you even better news...

If you are in the county (NOT in Madison city limits or Huntsville city limits) your milleage rate is .00365. It goes up to .00575 and .0058 for Madison City and Huntsville City respectively. Owens Crossroads, Gurley, and New Hope are .00405. It gets even cheaper in Limestone County.


To figure your taxes, take the property amount and multiply it by the applicable rate. So, for instance, a house assessed at $100k in Madison County will pay $365 a year in property taxes...subtract $48 dollars from that if you are homesteading. That same house will be $575 in Madison City, $580 in Huntsville...and so on.

If you do not take your homestead exemption, DOUBLE the tax amount, you will pay taxes based on investment property assessments. Also, if you are purchasing new construction, most of the time the attorneys base the tax proration at closing off the prior year's tax bill, which a lot of times is just vacant land. So, when your first tax bill comes you will not have near enough to cover it in your escrow and often times have to go back to the builder to collect the correct proration. You generally won't have too many issues with this on prebuilds, but this comes up a lot on specs that have been sitting a while. It just depends on the timing of the prior year's assessment versus the current year's assessment, if that makes sense.

[Southeastern]

Cheap.

Dare I say too cheap. Especially when you consider the infrastructure needs of our county and cities.

[ToneyTiger]

Much cheaper than what I left in Florida....my taxes on my house, which were frozen at 1994 levels due to the Save Our Homes amendment there, were $485 per year. Here my taxes are $415. But the people who bought my house in Fort Lauderdale are paying based on the selling price....their insurance bill for a house bought at $90,000 was $2250 per year.......HUGE difference....So glad I got out of Florida.....

[LCTMadison]

Oh yeah! I hear so many people complain about their property taxes...uh, mine were over $3500 a year in Florida on a house valued at almost half what my house is here. And insurance....sheesh! I paid 4 times for insurance on both my home and auto in Florida!

I love Florida, but it costs ALOT to live there!

[Miscal]

My property taxes seems to have more than doubled from last year! I live in Owens Crossroads. This has to be a error I hope???

[LCTMadison]

Have you filed your homestead? If you purchased a resale that had a homestead exemption in place, you get the benefit of that for the remainder of that tax year only...you still have to go file your homestead for next tax year. This is the number one reason I hear "my taxes doubled from last year".

Millage rates in Owens Cross Roads (Madison County or HSV city) have not changed since this was originally posted, so its not that. Its a change in your assessed value or a change in your assessment class (Class 2 is investment/not homestead, Class 3 is single family homestead residents). Class 2 is 20%, Class 3 is 10%.

You might also want to check your tax assessment for any significant changes, although I would be shocked if your property value has doubled unless you purchased new construction/land and now you are seeing the full assessment. This should have been explained to you when you purchased/built your home.

If you are still unsure, call Cliff Mann, the tax assessor. He'll help you figure out why your taxes have increased so much.

[TUMF]

Originally Posted by LCTMadison

Have you filed your homestead? If you purchased a resale that had a homestead exemption in place, you get the benefit of that for the remainder of that tax year only...you still have to go file your homestead for next tax year. This is the number one reason I hear "my taxes doubled from last year".

Millage rates in Owens Cross Roads (Madison County or HSV city) have not changed since this was originally posted, so its not that. Its a change in your assessed value or a change in your assessment class (Class 2 is investment/not homestead, Class 3 is single family homestead residents). Class 2 is 20%, Class 3 is 10%.

You might also want to check your tax assessment for any significant changes, although I would be shocked if your property value has doubled unless you purchased new construction/land and now you are seeing the full assessment. This should have been explained to you when you purchased/built your home.

If you are still unsure, call Cliff Mann, the tax assessor. He'll help you figure out why your taxes have increased so much.

I just hung up with Cliff Mann's office. This is just to clarify this post.
You only need to file Homestead Exemption ONCE - unless the property has been re-deeded - refinanced or improvement changes have been made to the property.

[JackF]

The millage rate out in unincorporated Madison County is $3.35 per $100 for land and $3.65 per $100 for improvements, so the taxes on a $100,000 house in the County would actually be a little less than $365, not much though.


$20,000 (Land) x 10% assessment level =$2,000 x .0335 = $67
$80,000 (Imp) x 10% assessment level =$8,000 x .0365 = $292


$359-$48 = $311 tax bill