Moorefield, Nebraska Property Taxes
The median property tax rate in Moorefield, NE is 1.35%, which is considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Moorefield at $216,519, the typical annual property tax bill reaches $2,917, surpassing the national median of $2,690. Property taxes in Moorefield 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 Moorefield'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 Moorefield 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
Moorefield, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$2,923
Ownwell’s Moorefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moorefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moorefield 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 Moorefield, Nebraska
Property taxes in Moorefield, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moorefield is 1.35%, higher than both the Nebraska state median of 1.65% and the U.S. national median of 0.99%. Local government entities within Moorefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moorefield 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 Moorefield's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69039 zip code has the highest median property tax rate of 1.35%, while the same 69039 zip code has the lowest median tax rate of 1.35%. Understanding how these cities compare with Moorefield provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moorefield Tax Rate
1.35%
Average Lincoln County Tax Rate
1.93%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moorefield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69039 | 1.16% | 1.17% | 1.35% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Moorefield, Nebraska
In Moorefield, 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 Lincoln 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 Moorefield, 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 Moorefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,917 in the 69039 zip code, while the lowest is also $2,917 in the same zip code.
Average Moorefield Assessed Value
$216,519
Average Lincoln County Assessed Value
$120,701
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moorefield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69039 | $129,621 | $161,920 | $216,519 | $285,844 | $415,743 |
Source: Ownwell
Property Tax Bills Across Moorefield, Nebraska
Property tax bills in Moorefield, Lincoln County, NE are determined by the assessed value of a property multiplied by the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by county assessors. Factors such as property size, location, and improvements can influence this assessed value. In Moorefield, the median home price is $216,519, and property tax bills vary significantly across the spectrum. For instance, homeowners in the 25th percentile pay around $1,992 annually, while those in the 75th percentile face bills closer to $3,830. The top 10% of homeowners can expect to pay as much as $5,131. Comparatively, the highest and lowest median tax bills in Lincoln County both stand at $2,917, indicating a fairly consistent range within the county. This variability in tax bills can significantly affect homeowners' finances, making it crucial for them to understand how their property's assessed value and the local tax rate combine to determine their annual tax obligation.
Average Moorefield Tax Bill
$2,917
Average Lincoln County Tax Bill
$2,112
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Moorefield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69039 | $1,627 | $1,992 | $2,917 | $3,830 | $5,131 |
Source: Ownwell