Crofton, Nebraska Property Taxes
The median property tax rate in Crofton, NE is 1.15%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Crofton at $222,038, the typical annual property tax bill reaches $2,525, slightly below the national median of $2,690. Property taxes in Crofton are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Crofton'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 Crofton or another part of Cedar County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crofton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$2,553
Ownwell’s Crofton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Crofton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crofton to provide an estimate of your property tax bill. This intuitive tool aids in understanding potential tax liabilities. For those interested in more granular details, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Crofton, Nebraska
Property taxes in Crofton, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crofton is 1.15%, which is significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Crofton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crofton 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 Crofton's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68730 has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these rates compare with Crofton provides valuable insights into the varying tax landscape across Cedar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crofton Tax Rate
1.15%
Average Cedar County Tax Rate
1.45%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crofton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68730 | 1.07% | 1.14% | 1.15% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Crofton, Nebraska
In Crofton, 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 Cedar 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 Crofton, 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 Crofton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 68730, with a bill of $2,525.00.
Average Crofton Assessed Value
$222,038
Average Cedar County Assessed Value
$117,330
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crofton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68730 | $54,213 | $130,555 | $222,038 | $408,051 | $694,424 |
Source: Ownwell
Property Tax Bills Across Crofton, Nebraska
Property tax bills in Crofton, Cedar County, NE, are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value is a percentage of the market value of the home. For example, with a median home price of $222,038, homeowners can expect their tax bill to be a proportion of this value, adjusted by the local tax rate. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or abatements. The tax rate in Crofton is designed to fund essential public services such as schools, infrastructure, and emergency services. Homeowners in Crofton experience varying tax bills, with the 25th percentile paying around $1,434, while those in the 75th percentile face bills up to $4,288. At the 90th percentile, tax bills can reach as high as $7,827. These rates can significantly impact household budgets, making it crucial for homeowners to understand how their property taxes are calculated and what factors might influence their annual tax bills.
Average Crofton Tax Bill
$2,525
Average Cedar County Tax Bill
$1,639
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Crofton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68730 | $517 | $1,434 | $2,525 | $4,288 | $7,827 |
Source: Ownwell