Cody, Nebraska Property Taxes
The median property tax rate in Cody, NE is 0.97%, slightly below the national median of 0.99% and significantly lower than the Nebraska state median of 1.75%. With a median home value of $79,176 in Cody, the typical annual property tax bill is $838, which is considerably less than the national median of $2,690. Property taxes in Cody are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cody's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cody 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
Cody, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$768
Ownwell's Cody Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cody with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cody to provide an accurate property tax bill estimate. This invaluable tool aids in understanding potential tax liabilities, offering peace of mind and financial foresight. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value, determined by the county, serves as the basis for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Cody, Nebraska
Property taxes in Cody, Nebraska, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cody is 1.83%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Cody set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cody 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 Cody's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69211 zip code has the highest median property tax rate of 1.83%, while the same 69211 zip code also has the lowest median tax rate of 1.83%. Understanding how these areas compare with Cody provides valuable insights into the varying tax landscape across Cherry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cody Tax Rate
0.97%
Average Cherry County Tax Rate
0.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cody, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69211 | 0.97% | 0.97% | 0.97% | 1.14% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Cody, Nebraska
In Cody, 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 Cherry 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 Cody, 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 Cody is $79,176, with tax bills ranging from $487 at the 25th percentile to $3,542 at the 90th percentile. The zip code 69211 has both the highest and lowest median tax bill, each at $838. 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 Cody helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cody Assessed Value
$79,176
Average Cherry County Assessed Value
$139,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cody, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69211 | $13,548 | $49,095 | $79,176 | $146,900 | $310,137 |
Source: Ownwell
Property Tax Bills Across Cody, Nebraska
In Cody, Cherry County, NE, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is an estimate of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $79,176, homeowners can expect their property tax bill to vary significantly. At the 25th percentile, the tax bill is $487, while at the 75th percentile, it rises to $1,696. Those at the 90th percentile face a tax bill of $3,542. These variations are influenced by several factors, including property improvements, market conditions, and local government budgets. Compared to the national median property tax rate of 0.99%, the tax rate in Cody can have a considerable impact on homeowners' finances. Higher tax bills can affect affordability and long-term financial planning, making it essential for homeowners to stay informed about their property assessments and potential exemptions.
Average Cody Tax Bill
$838
Average Cherry County Tax Bill
$1,288
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Cody, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69211 | $128 | $487 | $838 | $1,696 | $3,542 |
Source: Ownwell