Mahaska, Nebraska Property Taxes
The median property tax rate in Mahaska, NE is 1.50%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Mahaska at $689,987, the typical annual property tax bill reaches $10,292, significantly exceeding the national median of $2,690. Property taxes in Mahaska 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 Mahaska'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 Mahaska 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
Mahaska, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$10,350
Ownwell’s Mahaska Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mahaska. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Mahaska to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, allowing you to plan your finances better. For those interested in more localized trends, further information is available below. Your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions, ensuring you get the most precise estimate possible.
Property Tax Rates Across Mahaska, Nebraska
Property taxes in Mahaska, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mahaska is 1.25%, higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Mahaska set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mahaska 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 Mahaska's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68104 has the highest median property tax rate of 2.11%, while the zip code 68801 has the lowest median tax rate of 1.14%. Understanding how these cities compare with Mahaska provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mahaska Tax Rate
1.50%
Average Jefferson County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mahaska, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Mahaska, Nebraska
In Mahaska, 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 local 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 Mahaska, 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 Mahaska helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mahaska is $689,987, with tax bills ranging from $7,538 at the 25th percentile to $85,023 at the 90th percentile.
Average Mahaska Assessed Value
$689,987
Average Jefferson County Assessed Value
$68,781
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mahaska, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Mahaska, Nebraska
Property tax bills in Mahaska, Jefferson County, NE, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Several factors influence this valuation, including the property's size, location, and condition, as well as recent sales of similar properties in the area. In Mahaska, homeowners face varying tax bills based on their property's value. For instance, the 25th percentile tax bill is $7,538, while those in the 75th percentile pay around $25,126. High-value properties can see tax bills soaring to the 90th percentile, amounting to $85,023. These figures highlight the significant impact property taxes can have on homeowners' finances, particularly for those with higher-valued homes. Comparatively, Mahaska's property tax rates can be higher than the national median property tax rate of 0.99%, making it crucial for homeowners to understand how their tax bills are calculated and budget accordingly.
Average Mahaska Tax Bill
$10,292
Average Jefferson County Tax Bill
$1,295
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Mahaska, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell