Madison, Madison County, New York Property Taxes
Median Madison, 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 Madison, NY home value: $114,504
Median annual Madison, NY tax bill: $3,386, $986 higher than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in Madison, 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 Madison’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Madison, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Madison, Madison County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.96%
Estimate Property Tax Bill
$3,389
$3,145
Property Tax Rates Across Madison, Madison County, New York
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Madison’s effective property tax rate to other cities in New York and the median property tax rates in New York and the U.S.
Madison County's property tax rate stands out, as it significantly exceeds the national median property tax rate of 1.02%. This high rate reflects the local government's budgetary needs and the value of taxable properties in the area. When comparing Madison to other regions in New York, it's clear that property tax rates can vary, but Madison's rate remains consistent within its own zip code. Understanding these differences can help property owners anticipate their tax responsibilities and explore potential savings through appeals or exemptions.
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 Madison Tax Rate
2.96%
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 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 Madison, Madison County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13402 | 2.87% | 2.96% | 2.96% | 3.02% | 3.02% |
Source: Ownwell
Property Tax Assessment Values Across Madison, Madison County, New York
When examining property taxes in Madison, 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.
Assessment notices: 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 Madison. For example, the median home price in Madison is $114,504, with tax bills ranging significantly across the county. Zip code 13402 has the highest median home price at $114,504.
Property Tax Assessment Values Across Madison, Madison County, New York
Source: Ownwell
$49,012
$141,759
$234,506
Median Madison Market Value
$114,504
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 Madison, Madison County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13402 | $44,321 | $76,336 | $114,504 | $160,878 | $233,053 |
Source: Ownwell
Property Tax Bills Across Madison, Madison County, New York
Median Madison Tax Bill
$3,386
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 Madison, Madison County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13402 | $1,332 | $2,278 | $3,386 | $4,722 | $6,750 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Madison Assessment Review Commission | |
| Website | property.madisoncounty.ny.gov |