Madison County
Madison County, Kentucky
101 W. Main Street
Richmond, Kentucky 40475
Tel: 859-624-4703
Fax: 859-623-4742
County Website: Madison county
Assessor Website: Madison county assessor
Madison County Property Assessment Adjustment Instructions
- Take a look at your property tax bill and make sure all the information is accurate. https://www.madisoncountyky.us/property_taxes.php
- Contact your local county assessor's office and inquire about the appeals process, and ask any questions you have.
- Gather any relevant documentation such as recent property appraisals or sales data to support your case.
- Complete the necessary forms and submit them before the deadline. https://www.madisoncountyky.us/property_taxes.php
- Attend any scheduled meetings or hearings with the county Board of Assessment Appeals or other officials.
- If the appeal is denied, you may have the option to appeal to the state level.
- Keep records of all correspondence and documentation throughout the process.
URLs
Here's how to lower your property taxes in Madison county
Contact the county assessor
Contact the Madison county tax assessor's office and ask for a review of the property's value. Visit the Madison county assessor's website to find the phone number to call. If the assessor determines that your property is worth less than the value on which your taxes are based, your property taxes may be lowered.
Tax exemptions
Start by finding what your tax bill is. Typically you will find your tax bill information on your mortgage statement. Look for tax exemptions or credits that you may be eligible for. Many states and localities offer exemptions or credits for homeowners who meet certain criteria, information such as being over a certain age or having a low income. Madison county may have these types of exemptions available for homeowners. These exemptions and credits can lower the property tax you owe.
Appeal tax assessment
Appeal the property tax assessment. If you believe that your property's value has been overestimated, you can typically appeal the assessment to your Madison county tax assessor's office. This is part of the services that your assessor's office provides. You will need to provide evidence to support your claim, such as a recent appraisal or sales data for comparable properties and homes in your area. Usually, you will meet with the Board of Equalization. If your appeal is successful, your property taxes may be lowered.
Challenge the tax rate
Consider challenging the tax rate. In some cases, the amount of property taxes you owe is not based on the value of your property, but on the tax rate set by your local government. If you believe that the tax rate is too high, you can contact your Madison county government and ask them to consider reducing it.
Property Tax Rules
Stay up-to-date on your property's value and property tax rules. For the purpose of lowering your Madison county property tax, property value is the assessed property value and not the market property value. Assessed property value is used for taxation purposes while market property value is what a buyer and seller would likely agree on. Typically the assessed value is lower than the market value. Your property's value can change over time due to a variety of factors, such as changes in the local real estate market or improvements you make to your property. To ensure that your property taxes are accurate and fair, it is important to stay informed about your property's value and contact Madison county local tax assessor's office if you believe there has been a significant change.
Keep in mind that property tax laws and regulations can vary, so it is important to consult with your Madison county Kentucky tax assessor's office for specific information about how to reduce your property taxes.
About Madison County
Homes in Madison county have a median home value of $160,512.
Madison county home values are ranked 15 out of 120 counties in the state of Kentucky for median home price. The average median home value in Kentucky is $109,045. Knott county has the lowest median price at $53,469. Oldham county has the highest median price at $299,390.
Compared to the rest of the United States, Madison county homes have a median home value that is above the national median value of $130,626 by ~23%.
The median household income in Madison county is $51,649.
Compared to the state of Kentucky and the United States, Madison county's median household income is higher than the state of Kentucky's average median household income of $46,716 and lower than the United States average median household income of $54,172.
Madison county's population has grown from 57,508 in 1990 to 92,701 in 2020, an increase of 61% over that time frame.
For comparison, the state of Kentucky's population has grown from 3,686,892 in 1990 to 4,505,836 in 2020, an increase of 22% over that time frame.
In the United States, the population has grown from 248,790,925 in 1990 to 331,449,281 in 2020, an increase of 33% over that time frame.
Madison county's population change from 1990 to 2020 is greater than the population change for Kentucky and the United States.
Madison County Kentucky Cities
Berea, Bybee, Richmond
Madison County Kentucky Zipcodes
40385 / 40403 / 40475 /
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