65263 Property Tax Rate

Property owners in ZIP code 65263 (Madison, Missouri) pay a median of $962/year in property taxes on homes valued at $124,000. This translates to an effective tax rate of 0.78%, which is near the Missouri state average of 0.78%.

The monthly property tax burden for a median-valued home in 65263 is approximately $80, which factors into escrow payments on mortgages. This ZIP code is located within Monroe County. This is $414 less than the Missouri average of $1,376/year.

Compared to similar ZIP codes in Missouri, 65263 has higher property taxes. ZIP codes with similar effective rates include 65101 (0.78%) and 65032 (0.77%).

In Madison, property taxes represent approximately 1.8% of the median household income of $53,981, providing context for the relative tax burden on homeowners in this area.

Missouri law requires full reassessment to fair market value upon sale, with no annual increase caps for homeowners, so expect your tax obligation to reflect current market prices. Monroe County offers both a Homestead Exemption and an Over-65 Senior Exemption that reduce taxable assessed value — file applications with the Monroe County Assessor immediately after purchase. Obtain your assessment notice within 30 days and file a formal appeal with the Monroe County Board of Equalization if you believe the value is inflated.