Valparaiso, Nebraska Property Taxes
The median property tax rate in Valparaiso, NE is 1.11%, which is higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $240,365 in Valparaiso, the typical annual property tax bill amounts to $2,696, just above the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Valparaiso'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 Valparaiso 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
Valparaiso, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,668
Ownwell’s Valparaiso Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valparaiso with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valparaiso 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 Valparaiso, Nebraska
Property taxes in Valparaiso, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valparaiso is 1.11%, which is higher than the U.S. national median of 0.99%. Local government entities within Valparaiso set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valparaiso 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 Valparaiso's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68065 has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Valparaiso provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valparaiso Tax Rate
1.11%
Average Butler County Tax Rate
1.49%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valparaiso, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68065 | 1.01% | 1.07% | 1.11% | 1.12% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Valparaiso, Nebraska
In Valparaiso, Nebraska, 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 Butler 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 Valparaiso, 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. The median home price in the area is $240,365, with tax bills ranging from $2,299 at the 25th percentile to $6,635 at the 90th percentile. The highest and lowest median tax bills, both at $2,696, are found in the 68065 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Valparaiso Assessed Value
$240,365
Average Butler County Assessed Value
$140,672
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valparaiso, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68065 | $186,642 | $211,668 | $240,365 | $508,005 | $649,580 |
Source: Ownwell
Property Tax Bills Across Valparaiso, Nebraska
In Valparaiso, located in Butler County, NE, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the market value of the property. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition, as well as recent sales of similar properties in the area. Homeowners in Valparaiso can expect tax bills to vary, with the 25th percentile tax bill at $2,299 and the 75th percentile reaching $5,640. For those in the 90th percentile, the tax bill can be as high as $6,635. These taxes fund essential community services such as schools, public safety, and infrastructure. While the national median property tax rate is 0.99%, local variations mean that some homeowners might pay more or less, significantly impacting their annual expenses.
Average Valparaiso Tax Bill
$2,696
Average Butler County Tax Bill
$1,858
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Valparaiso, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68065 | $2,051 | $2,299 | $2,696 | $5,640 | $6,635 |
Source: Ownwell