Fordyce, Nebraska Property Taxes
The median property tax rate in Fordyce, Nebraska is 0.88%, which is considerably lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $175,608 in Fordyce, the typical annual property tax bill amounts to $1,744, falling below the national median of $2,690. Property taxes in Fordyce are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Fordyce'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 Fordyce 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
Fordyce, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,545
Ownwell’s Fordyce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fordyce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fordyce 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 Fordyce, Nebraska
Property taxes in Fordyce, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fordyce is 1.54%, higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Fordyce set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fordyce 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 Fordyce's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68736 zip code has the highest median property tax rate of 1.54%, while the lowest median tax rate within the same zip code is also 1.54%. Understanding how these cities compare with Fordyce 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 Fordyce Tax Rate
0.88%
Average Cedar County Tax Rate
1.45%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fordyce, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68736 | 0.84% | 0.86% | 0.88% | 1.07% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Fordyce, Nebraska
In Fordyce, 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 Fordyce, 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 Fordyce helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fordyce is $175,608, with tax bills ranging from $891 at the 25th percentile to $6,470 at the 90th percentile. The zip code 68736 has the highest median tax bill at $1,744.
Average Fordyce Assessed Value
$175,608
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 Fordyce, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68736 | $58,442 | $83,915 | $175,608 | $372,459 | $678,224 |
Source: Ownwell
Property Tax Bills Across Fordyce, Nebraska
In Fordyce, Cedar County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $175,608, homeowners can expect varying tax bills depending on their property's assessed value and the tax rate applied. Several factors influence the tax bill, including property location, size, and any improvements made. The tax bill for homes in the 25th percentile is around $891, while those in the 75th percentile face a bill of approximately $3,480. Homes in the 90th percentile can see tax bills as high as $6,470. These figures show a significant range, reflecting differences in property values and assessments within the area. For homeowners, understanding these factors is crucial as it directly impacts their annual financial obligations. Comparing these figures to the national median property tax rate of 0.99% highlights how local rates and property values can significantly affect tax bills.
Average Fordyce Tax Bill
$1,744
Average Cedar County Tax Bill
$1,639
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Fordyce, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68736 | $585 | $891 | $1,744 | $3,480 | $6,470 |
Source: Ownwell