Waterville, Madison County, New York Property Taxes

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

Median Waterville, NY effective property tax rate: 2.97%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Waterville, NY home value: $123,580
Median annual Waterville, NY tax bill: $3,714, $1,314 higher than the national median property tax bill of $2,400.

How are property taxes in Madison calculated?

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

Last Updated March 1, 2025

Waterville, Madison County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.97%

Estimate Property Tax Bill

$3,670

$3,406

Ownwell’s Waterville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waterville with just two data points. By entering your property's estimated assessed value, our calculator applies Waterville’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 Waterville, Madison County, New York

Local government entities set tax rates, which can vary widely within a state. This variation occurs because each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their 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. Waterville in Madison County, NY, exemplifies this process with its effective property tax rate. Compare Waterville’s rate to other cities in New York and the median property tax rates in New York and the U.S. Waterville's rate is notably higher than the national median property tax rate of 1.02%. This highlights the importance of understanding local property tax dynamics and exploring potential savings through property tax appeals and exemptions.

Property Tax Rates Across Waterville, 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 Waterville Tax Rate

2.97%

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 Waterville, Madison County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
13480	2.78%	2.97%	2.97%	3.21%	3.23%

Source: Ownwell

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

When examining property taxes in Waterville, 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: Madison County sends assessment notices in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Waterville. For example, the median home price in Waterville is $123,580, with tax bills ranging significantly across the county. Zip code 13480 has the highest median home price at $123,580.

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

Source: Ownwell

$49,012

$141,759

$234,506

Median Waterville Market Value

$123,580

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 Waterville, Madison County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
13480	$64,741	$94,290	$123,580	$172,565	$213,475

Source: Ownwell

Property Tax Bills Across Waterville, Madison County, New York

In Waterville, NY, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, and the tax rate is set by local government authorities. Homeowners in Waterville face a median property tax bill of $3,714, which is significantly higher than the national median of $2,400. This disparity highlights the impact of local assessment practices and tax rates on homeowners' financial obligations. Factors such as changes in local government budgets and property market trends can influence these tax rates, affecting the overall tax bill. High property taxes can strain household budgets, making it essential for homeowners to explore ways to reduce their tax burden. Ownwell offers property tax appeal services that help homeowners challenge their assessed values, potentially leading to significant savings. By leveraging expert knowledge and a thorough understanding of local tax codes, Ownwell can assist homeowners in navigating the complexities of property tax assessments, ultimately reducing their tax liabilities.

Property Tax Bills Across Waterville, Madison County, New York

Source: Ownwell

$1,355

$4,051

$6,747

Median Waterville Tax Bill

$3,714

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 Waterville, Madison County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
13480	$1,879	$2,769	$3,714	$5,084	$6,509

Source: Ownwell

Don't miss the deadline to file a grievance!

Dates

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