Madison, Georgia Property Taxes
The median property tax rate in Madison, GA is 0.98%, slightly below the state median of 1.08% and just under the national median of 0.99%. With the median home value in Madison at $209,099, the typical annual property tax bill amounts to $2,152, which is lower than the national median of $2,690. Property taxes in Madison are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Madison's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to notable annual savings. Whether you're in the heart of Madison or another part of Morgan County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Madison, Georgia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,160
Ownwell’s Madison Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Madison with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Madison to provide an estimated property tax bill. This valuable tool helps you gain insight into potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
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 0.98%, slightly lower than the Georgia state median but very close to the U.S. national median of 0.99%. Local government entities within Madison set these rates annually, and they can vary 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 zip code 30650 in Madison has a median property tax rate of 0.98%, which is consistent across the area. Understanding how these cities compare with Madison provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madison Tax Rate
0.98%
Average Morgan County Tax Rate
0.98%
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 | 0.98% | 0.98% | 0.98% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Madison, Georgia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Madison, Georgia. 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 local 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 zip code 30650 has both the highest and lowest median tax bill, which is $2,152.
Average Madison Assessed Value
$209,099
Average Morgan County Assessed Value
$223,250
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 | $68,337 | $109,603 | $209,099 | $343,289 | $486,581 |
Source: Ownwell
Property Tax Bills Across Madison, Georgia
In Madison, Morgan County, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $209,099, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions. In Madison, the tax bill at the 25th percentile is $1,166, while it reaches $3,486 at the 75th percentile, and $4,973 at the 90th percentile. Comparatively, the national median property tax rate is 0.99%, highlighting how local variations can significantly impact homeowners. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations and plan their finances accordingly.
Average Madison Tax Bill
$2,152
Average Morgan County Tax Bill
$2,264
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 | $699 | $1,166 | $2,152 | $3,486 | $4,973 |
Source: Ownwell