North Loup, Nebraska Property Taxes
The median property tax rate in North Loup, NE is 1.16%, which is higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in North Loup at $289,670, the typical annual property tax bill reaches $3,391, surpassing the national median of $2,690. Property taxes in North Loup 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 North Loup'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 North Loup 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
North Loup, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$3,360
Ownwell’s North Loup Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Loup with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Loup 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 North Loup, Nebraska
Property taxes in North Loup, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Loup is 1.16%, which is higher than the U.S. national median of 0.99%. Local government entities within North Loup set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Loup 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 North Loup's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68859 has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with North Loup provides valuable insights into the varying tax landscape across Greeley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Loup Tax Rate
1.16%
Average Greeley County Tax Rate
1.34%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Loup, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68859 | 0.97% | 1.15% | 1.16% | 1.16% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across North Loup, Nebraska
In North Loup, Nebraska, understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Greeley 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 North Loup, 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. For instance, the median home price in North Loup is $289,670, with tax bills ranging from $2,318 at the 25th percentile to $7,182 at the 90th percentile. The highest and lowest median tax bills are both $3,391 in the 68859 zip code. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average North Loup Assessed Value
$289,670
Average Greeley County Assessed Value
$86,605
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Loup, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68859 | $137,762 | $199,990 | $289,670 | $544,620 | $621,163 |
Source: Ownwell
Property Tax Bills Across North Loup, Nebraska
In North Loup, Greeley County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $289,670, homeowners can expect varying tax bills depending on their property’s valuation and applicable exemptions. Several factors influence the tax bill, including property size, location, and any improvements made to the home. The tax bill for the 25th percentile is around $2,318, while those in the 75th percentile see bills closer to $6,309. At the 90th percentile, tax bills can reach up to $7,182. These figures highlight the range of possible tax liabilities homeowners may face. Compared to the national median property tax rate of 0.99%, North Loup’s tax rates can significantly impact homeowners, potentially making it more expensive to maintain property ownership in this area. Understanding these factors is crucial for homeowners planning their finances.
Average North Loup Tax Bill
$3,391
Average Greeley County Tax Bill
$1,502
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across North Loup, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68859 | $1,359 | $2,318 | $3,391 | $6,309 | $7,182 |
Source: Ownwell