Georgetown, Madison County, New York Property Taxes

Name: Property Tax Bills Across Georgetown, Madison County, New York
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Georgetown, NY effective property tax rate: 2.96%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Georgetown, NY home value: $78,947
Median annual Georgetown, NY tax bill: $2,385, $15 lower than the national median property tax bill of $2,400.

How are property taxes in Madison calculated?

Property taxes in Georgetown, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Georgetown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Georgetown, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Georgetown, Madison County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.96%

Estimate Property Tax Bill

$2,337

$2,169

Ownwell’s Georgetown Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Georgetown with just two data points. By entering your property's estimated assessed value, our calculator applies Georgetown’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Madison County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Georgetown, Madison County, New York

Local government entities set tax rates, leading to significant variations within a state. Each county annually estimates its required budget for services and divides this by the total assessed value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the basic annual process.

In Georgetown, located in Madison County, New York, the effective property tax rate stands out. It is notably higher than the national median property tax rate of 1.02%. This difference highlights the impact of local budgetary needs and property values on tax rates. Georgetown's rate is also reflective of the broader trend in New York, a state known for having higher property tax rates compared to the national average. Understanding these variations can help property owners make informed decisions about appeals and exemptions, potentially leading to significant savings. By comparing Georgetown’s rate to other cities in New York and the national median, property owners can better grasp the factors influencing their tax bills.

Property Tax Rates Across Georgetown, Madison County, New York

Source: Ownwell

2.58%

3.25%

3.91%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Georgetown Tax Rate

2.96%

Median Effective Madison County Tax Rate

3.06%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Georgetown, Madison County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
13072	2.66%	2.85%	2.96%	3.01%	3.24%

Source: Ownwell

Property Tax Assessment Values Across Georgetown, Madison County, New York

When examining property taxes in Georgetown, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Madison County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Madison County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Georgetown.

For example, the median home price in Georgetown is $78,947, with tax bills ranging significantly across the county. The zip code 13072 has the highest median home price at $78,947.

Property Tax Assessment Values Across Georgetown, Madison County, New York

Source: Ownwell

$49,012

$141,759

$234,506

Median Georgetown Market Value

$78,947

Median Madison County Market Value

$136,471

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Georgetown, Madison County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
13072	$31,579	$50,526	$78,947	$126,667	$200,000

Source: Ownwell

Property Tax Bills Across Georgetown, Madison County, New York

In Georgetown, Madison County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as local government budgets and school funding needs can influence the tax rate, directly impacting homeowners. In Georgetown, the median home price is $78,947, with tax bills ranging from $1,533 at the 25th percentile to $5,602 at the 90th percentile. This variation highlights how property taxes can significantly affect homeowners' finances. Compared to the national median property tax bill of $2,400, Georgetown's tax bills can be relatively high, especially at higher percentiles. Ownwell can assist homeowners by reviewing their property assessments and identifying opportunities for appeals or exemptions. By ensuring that properties are accurately assessed, Ownwell helps homeowners potentially lower their tax liabilities, providing significant savings and financial relief.

Property Tax Bills Across Georgetown, Madison County, New York

Source: Ownwell

$1,355

$4,051

$6,747

Median Georgetown Tax Bill

$2,385

Median Madison County Tax Bill

$4,460

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Georgetown, Madison County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
13072	$922	$1,533	$2,385	$3,705	$5,602

Source: Ownwell

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Dates

Links
Madison Assessment Review Commission
Website	property.madisoncounty.ny.gov