Madison County presents 2025 tax roll data with significant growth highlights

Madison County officials reported a significant increase in the assessed value of properties during the July 7 Board Meeting, highlighting the county's ongoing economic growth. The preliminary 2025 tax roll shows a total assessed value of $2,000,280,793, reflecting an increase of approximately $77.2 million, or 3.5%, from the previous year.

Norman Cannady, the county tax assessor, presented detailed figures indicating that the assessed value for class 1 and 2 real properties combined stands at over $1 trillion, with a notable increase of $28.8 million. Class 3 personal property also saw a rise, with an assessed value of $343.8 million, up by about $22.7 million. The meeting underscored the county's robust growth, with 58,698 real property parcels and 5,055 personal property accounts now included in the tax roll.

Cannady explained the classifications of properties, noting that class 1 includes owner-occupied single-family residences, while class 2 encompasses all other real estate, including commercial properties. The assessment rates for these classes are set by the Department of Revenue, with class 1 properties assessed at 10% and class 2 at 15%.

The meeting also addressed the processing of homestead applications, with 3,075 applications completed between January and April, further indicating active engagement in property ownership within the county.

As Madison County continues to experience solid growth, these developments in the tax roll are expected to have significant implications for local funding and services, reinforcing the importance of accurate property assessments in supporting community needs.