Dakota City, Nebraska Property Taxes
The median property tax rate in Dakota City, NE is 2.04%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Dakota City, the typical annual property tax bill reaches $2,605, just below the national median of $2,690. Property taxes in Dakota City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dakota City'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 Dakota City 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
Dakota City, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$3,060
Ownwell’s Dakota City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dakota City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dakota City 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 Dakota City, Nebraska
Property taxes in Dakota City, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dakota City is 2.04%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Dakota City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dakota City 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 Dakota City's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68731 zip code has the highest median property tax rate of 2.04%, while the same zip code also has the lowest median tax rate of 2.04%. Understanding how these cities compare with Dakota City provides valuable insights into the varying tax landscape across Dakota County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dakota City Tax Rate
2.04%
Average Dakota County Tax Rate
1.91%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dakota City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68731 | 1.13% | 1.15% | 2.04% | 2.04% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Dakota City, Nebraska
In Dakota City, 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 Dakota County Assessor 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 Dakota City, 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 Dakota City is $149,980, with tax bills ranging from $1,639 at the 25th percentile to $4,843 at the 90th percentile. The zip code 68731 has the highest and lowest median tax bill at $2,605. 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 Dakota City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dakota City Assessed Value
$149,980
Average Dakota County Assessed Value
$134,320
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dakota City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68731 | $63,309 | $107,245 | $149,980 | $204,055 | $298,445 |
Source: Ownwell
Property Tax Bills Across Dakota City, Nebraska
In Dakota City, Dakota County, NE, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the market value of the home, which for Dakota City averages around $149,980. To determine the tax bill, the assessed value is multiplied by the local tax rate. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, the tax bill for the 25th percentile of homes is approximately $1,639, while those in the 75th percentile pay around $3,475. The highest tax bills, in the 90th percentile, can reach up to $4,843. Compared to the national median property tax rate of 0.99%, homeowners in Dakota City may find their tax bills vary significantly based on their property’s assessed value and the local tax rate. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Dakota City Tax Bill
$2,605
Average Dakota County Tax Bill
$2,267
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Dakota City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68731 | $380 | $1,639 | $2,605 | $3,475 | $4,843 |
Source: Ownwell