Edison, Nebraska Property Taxes
The median property tax rate in Edison, NE is 1.19%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Edison, the typical annual property tax bill reaches $3,056, exceeding the national median of $2,690. Property taxes in Edison 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 Edison'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 Edison 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
Edison, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$3,027
Ownwell’s Edison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edison 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 Edison, Nebraska
Property taxes in Edison, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edison is 1.19%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Edison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edison 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 Edison's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68936 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Edison provides valuable insights into the varying tax landscape across Gosper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edison Tax Rate
1.19%
Average Gosper County Tax Rate
1.11%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edison, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68936 | 1.19% | 1.19% | 1.19% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Edison, Nebraska
In Edison, 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 Gosper 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 Edison, 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 Edison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Edison is found in zip code 68936, amounting to $3,056.
Average Edison Assessed Value
$254,348
Average Gosper County Assessed Value
$179,048
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edison, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68936 | $106,615 | $171,487 | $254,348 | $791,185 | $883,704 |
Source: Ownwell
Property Tax Bills Across Edison, Nebraska
In Edison, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in the area is $254,348, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors that influence the tax bill include the property's market value, any applicable exemptions, and the specific tax rate set by local authorities. For homeowners, the tax bill can vary significantly. For instance, those in the 25th percentile pay around $2,068 annually, while those in the 75th percentile see bills closer to $9,419. At the 90th percentile, tax bills can reach up to $10,523. These variations can impact household budgets and financial planning. Comparatively, the national median property tax rate is 0.99%, which helps to contextualize Edison's property tax landscape. Understanding these factors is crucial for homeowners to anticipate their annual expenses and manage their finances effectively.
Average Edison Tax Bill
$3,056
Average Gosper County Tax Bill
$2,112
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Edison, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68936 | $1,235 | $2,068 | $3,056 | $9,419 | $10,523 |
Source: Ownwell