Q: When are property taxes due in Madison County for the current fiscal year?
A: Property taxes for 2023 are due October 15th, with this date typically remaining consistent for future years. Payments can be made online, in person at the county courthouse, or by mail.
Q: What tax credits are available and do they require application?
A: Arkansas homeowners may receive a Homestead Property Tax Credit of up to $500 per year, but this requires a separate application with the county assessor. Veterans may qualify for additional tax credits. Beginning with 2026 tax bills, expanded homestead credits will be available but still require application.
Q: How does the Homestead Tax Credit work?
A: The Homestead Credit is actually a tax credit that reduces your tax bill (not your assessed value) and helps limit assessment increases on your primary residence. You must file an application with the Madison County Assessor to receive this credit - it is not automatic.
Q: How often are properties reassessed in Madison County?
A: Arkansas law requires Madison County to reappraise all real property every three to five years. If you disagree with your assessment, you can appeal to the county equalization board during the specified appeal period.
Q: What are the penalties for late payment?
A: Late payments typically incur interest and penalty charges. Contact the Madison County Collector's office for specific penalty rates and payment options for delinquent taxes.
Q: Can I pay my property taxes online?
A: Yes, Madison County accepts online property tax payments. You can also pay in person at the county courthouse or by mail.
Q: Why did my tax bill increase if rates stayed the same?
A: Tax bills can increase due to property reassessment, completion of new construction, loss of tax credits, or changes in special district taxes that serve your area.
Q: What if I'm in a special taxing district?
A: Special districts (fire, library, school bonds) add additional millage to your tax rate. Your exact rate depends on which combination of districts serve your specific property location within Madison County.
Q: Do I need to reapply for tax credits each year?
A: Most tax credits require initial application but may renew automatically if you continue to qualify. However, you should verify with the Madison County Assessor's office about renewal requirements for your specific credits.
Q: What happens if my escrow account is short?
A: If your escrow account lacks sufficient funds, your lender may pay the taxes and bill you for the shortage, or you may need to pay the county directly to avoid penalties.
