Valley, Nebraska Property Taxes
The median property tax rate in Valley, NE is 1.61%, which is considerably higher than the national median of 0.99% but slightly lower than the Nebraska state median of 1.75%. With a median home value of $329,758 in Valley, the typical annual property tax bill reaches $5,320, well above the national median of $2,690. Property taxes in Valley 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 Valley'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 Valley 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
Valley, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$5,309
Ownwell’s Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley 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 Valley, Nebraska
Property taxes in Valley, Nebraska, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Valley is 1.61%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley 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 Valley's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68064 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these figures compare with Valley provides valuable insights into the varying tax landscape across Dodge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valley Tax Rate
1.61%
Average Dodge County Tax Rate
1.79%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valley, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68064 | 1.42% | 1.44% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Valley, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Valley, Nebraska. 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 Dodge 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. Assessment notices in Valley 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 Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $5320 in zip code 68064.
Average Valley Assessed Value
$329,758
Average Dodge County Assessed Value
$133,688
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valley, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68064 | $206,568 | $255,680 | $329,758 | $467,298 | $613,737 |
Source: Ownwell
Property Tax Bills Across Valley, Nebraska
Property tax bills in Valley, located in Dodge County, Nebraska, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is designed to reflect the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and any improvements made. For homeowners in Valley, understanding these factors is crucial, as they directly impact the amount they owe. For instance, homes in the 25th percentile of tax bills pay around $4,013 annually, while those in the 75th percentile face bills closer to $7,546. The highest median tax bill in the area is $5,320, all within the zip code 68064. Compared to the national median property tax rate of 0.99%, Valley's rates can significantly affect homeowners' finances, making it essential to stay informed and consider potential exemptions or appeals to manage their tax burden effectively.
Average Valley Tax Bill
$5,320
Average Dodge County Tax Bill
$2,379
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68064 | $2,991 | $4,013 | $5,320 | $7,546 | $8,812 |
Source: Ownwell