Orchard, Nebraska Property Taxes
The median property tax rate in Orchard, NE is 1.14%, which is notably higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $316,430 in Orchard, the typical annual property tax bill amounts to $3,546, surpassing the national median of $2,690. Property taxes in Orchard are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Gaining a comprehensive understanding of Orchard's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Orchard or another part of Knox County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Orchard, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$3,607
Ownwell’s Orchard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orchard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orchard 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 Orchard, Nebraska
Property taxes in Orchard, Nebraska, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Orchard is 1.14%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Orchard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orchard 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 Orchard's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68764 zip code has the highest median property tax rate of 1.14%, while the same 68764 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Orchard provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orchard Tax Rate
1.14%
Average Knox County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orchard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68764 | 0.97% | 1.08% | 1.14% | 1.19% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Orchard, Nebraska
In Orchard, 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 Knox 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 Orchard, 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. Notably, the median property tax bill in Orchard is $3,546, with the highest and lowest tax bills also recorded at $3,546 in the zip code 68764. 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 Orchard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Orchard Assessed Value
$316,430
Average Knox County Assessed Value
$96,140
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orchard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68764 | $128,360 | $197,335 | $316,430 | $507,685 | $813,082 |
Source: Ownwell
Property Tax Bills Across Orchard, Nebraska
In Orchard, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For homeowners in Orchard, the median home price is $316,430. The property tax rate in Orchard is influenced by various factors including local government budgets, school funding, and public services. Homeowners in Orchard can expect their tax bills to vary significantly. For instance, tax bills in the 25th percentile are around $2,257, while those in the 75th percentile reach up to $5,875. At the 90th percentile, tax bills can be as high as $8,673. These figures illustrate how property taxes can impact household budgets, with higher-valued properties shouldering a larger tax burden. Compared to the national median property tax rate of 0.99%, Orchard's rates suggest a considerable range, reflecting the diverse property values and local fiscal needs.
Average Orchard Tax Bill
$3,546
Average Knox County Tax Bill
$1,362
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Orchard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68764 | $1,314 | $2,257 | $3,546 | $5,875 | $8,673 |
Source: Ownwell