Waverly, Nebraska Property Taxes
The median property tax rate in Waverly, NE is 1.55%, higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With a median home value of $274,100, the typical annual property tax bill in Waverly reaches $4,053, surpassing the national median of $2,690. Property taxes in Waverly are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Waverly'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 Waverly 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
Waverly, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$4,249
Ownwell’s WAVERLY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WAVERLY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WAVERLY 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 Waverly, Nebraska
Property taxes in Waverly, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waverly is 1.55%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Waverly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waverly 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 Waverly's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68462 has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Waverly provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waverly Tax Rate
1.55%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waverly, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68462 | 0.96% | 1.44% | 1.55% | 1.62% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Waverly, Nebraska
In Waverly, 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 Lancaster 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 Waverly, 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 Waverly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Waverly are both $4,053, specifically in the 68462 zip code.
Average Waverly Assessed Value
$274,100
Average Lancaster County Assessed Value
$238,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waverly, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68462 | $168,400 | $211,150 | $274,100 | $334,850 | $388,300 |
Source: Ownwell
Property Tax Bills Across Waverly, Nebraska
In Waverly, Lancaster County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Waverly, the median home price is $274,100. This means that the typical property tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $3,160, while at the 75th percentile, it rises to $5,144. The tax bill at the 90th percentile reaches $5,895. These figures highlight the variations in property tax bills depending on the assessed value and specific characteristics of the property. Homeowners in Waverly face a property tax rate that can be compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area are both recorded at $4,053 in zip code 68462, indicating some uniformity in tax assessments within that specific region. Understanding these factors is crucial for homeowners as it directly impacts their annual financial planning and overall cost of homeownership.
Average Waverly Tax Bill
$4,053
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Waverly, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68462 | $1,416 | $3,160 | $4,053 | $5,144 | $5,895 |
Source: Ownwell