Madison, Georgia Property Taxes
The median property tax rate in Madison, GA is 0.83%, lower than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Madison, the typical annual property tax bill reaches $965, significantly less than the national median of $2,690. Property taxes in Madison are calculated based on the tax assessed value, which is generally below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Madison's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Madison or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Madison, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$850
$826
Ownwell’s Madison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Madison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Madison to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Madison, Georgia
Property taxes in Madison, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madison is 0.83%, which is lower than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Madison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madison estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Madison's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30650 zip code has the highest median property tax rate of 0.83%, while the same 30650 zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Madison provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madison Tax Rate
0.83%
Average Putnam County Tax Rate
0.75%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madison, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30650 | 0.62% | 0.80% | 0.83% | 0.96% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Madison, Georgia
In Madison, Georgia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Putnam County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Madison, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Madison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $965.00, located in the zip code 30650.
Average Madison Assessed Value
$102,420
Average Putnam County Assessed Value
$222,449
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madison, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30650 | $50,294 | $54,959 | $102,420 | $180,704 | $382,541 |
Source: Ownwell
Property Tax Bills Across Madison, Georgia
In Madison, GA, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors like property size, location, and improvements can influence the assessed value. For homeowners in Madison, understanding their property tax bill is crucial as it directly impacts their annual expenses. The median home price in Madison is $102,420, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $491, while the 75th percentile tax bill is $1,859, with the 90th percentile reaching up to $2,379. Comparatively, the national median property tax rate is 0.99%, making it essential for Madison homeowners to be aware of how their local rates stack up. In Madison, the highest and lowest median tax bills are both $965, indicating some consistency within the area. Homeowners should regularly review their property assessments to ensure they are fair and accurate, potentially saving on their annual tax bills.
Average Madison Tax Bill
$965
Average Putnam County Tax Bill
$1,336
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Madison, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30650 | $130 | $491 | $965 | $1,859 | $2,379 |
Source: Ownwell