Many residents have been asking what will be the impact of annexation on their property taxes. An estimate can be obtained by using The Real Property Tax Estimate
which is located on the Madison County Tax Assessors web site.
If you don't know the value of your property you can use the Land Roll Express Search
to find the value of your land and improvements.
Using the The Real Property Tax Estimate calculate the amount of tax selecting the appropriate filing status and selecting "None" as the City. Click calculate... this should be close to what the taxes are now. Then change the City to Madison and re-calculate. Remember to select the correct School District: Canton or Madison. This will give a close approximation of your taxes after annexation.
You can also use the The Real Property Tax Estimate to see the huge impact of Homestead Exemption. Not only does it decease your actual tax by $300 or more, but it reduces the assessed value from 15% of appraised value to 10%.
The City of Madison millage is 43.8% higher than the City of Ridgeland. Click here to see current Millage Rates .
Click here to see a 2009 Tax Millage Rate comparison of Madison County, Madison the City, and Ridgeland.
Hopefully, any increase in taxes should be offset with reductions in the cost of your property insurance due to lower fire rating code.