Madison County; school district ad valorem tax; provide homestead exemption

School tax break for Madison County seniors

The law creates a Madison County School District tax break for homeowners age 70 or older by January 1 of the tax year. It exempts up to $75,000 of a qualifying homestead’s assessed value from school taxes, starting January 1, 2027. Value above $75,000 remains taxable; this is not a $75,000 reduction in your tax bill. The exemption excludes school bond debt taxes and cannot be combined with another exemption from those school district taxes. It does not change state, county, municipal, or independent school district taxes. You must apply to the Madison County Tax Commissioner, who provides forms and checks eligibility. After approval, it renews automatically while you remain eligible and occupy the home as your homestead. You must notify the commissioner if you become ineligible. The law requires a local vote on November 3, 2026, with more than half of votes cast favoring approval. The exemption starts only with that approval and rejection of the specified state constitutional amendment for an immediate or gradual school-tax exemption. Without the required election or approval, or with approval of that amendment, the exemption does not start. In those cases, the act is automatically repealed on the 365th calendar day after the election. Madison County pays election costs, and the election superintendent must certify results to the Secretary of State. A court can compel election officials to perform their duties and order the required election or next available special election.