Brock, Nebraska Property Taxes
The median property tax rate in BROCK, NE is 1.51%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value in BROCK of $86,800, the typical annual property tax bill amounts to $1,225, falling below the national median of $2,690. Property taxes in BROCK are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding BROCK'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 BROCK 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
Brock, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$1,311
Ownwell’s Brock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brock 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 Brock, Nebraska
Property taxes in Brock, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brock is 1.51%, significantly higher than the U.S. national median of 0.99%. Local government entities within Brock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brock 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 Brock's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68320 zip code has the highest median property tax rate of 1.51%, while the 68320 zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Brock provides valuable insights into the varying tax landscape across Nemaha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brock Tax Rate
1.51%
Average Nemaha County Tax Rate
1.57%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brock, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68320 | 1.03% | 1.05% | 1.51% | 1.51% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Brock, Nebraska
In Brock, 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 Nemaha 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 Brock, 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. The median home price in Brock is $86,800, with tax bills ranging from the 25th percentile at $512 to the 75th percentile at $2,727, and the 90th percentile at $3,939. 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 Brock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brock Assessed Value
$86,800
Average Nemaha County Assessed Value
$86,266
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brock, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68320 | $14,738 | $34,791 | $86,800 | $201,360 | $370,789 |
Source: Ownwell
Property Tax Bills Across Brock, Nebraska
Property tax bills in Brock, Nemaha County, NE, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. This value is then multiplied by the local property tax rate to arrive at the annual tax bill. For homeowners in Brock, the median home price is $86,800. Property tax bills can vary significantly, with the 25th percentile tax bill at $512 and the 75th percentile tax bill reaching up to $2,727. At the 90th percentile, homeowners might face tax bills as high as $3,939. These figures show a substantial range, reflecting differences in property values and specific local tax rates within Nemaha County. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. For Brock homeowners, understanding these factors is crucial for budgeting and financial planning, as property taxes can significantly impact annual expenses.
Average Brock Tax Bill
$1,225
Average Nemaha County Tax Bill
$1,413
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Brock, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68320 | $203 | $512 | $1,225 | $2,727 | $3,939 |
Source: Ownwell