Virginia, Nebraska Property Taxes
The median property tax rate in Virginia, NE is 1.05%, slightly higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With the median home value in Virginia at $418,892, the typical annual property tax bill reaches $3,768, surpassing the national median of $2,690. Property taxes in Virginia are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Virginia'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 Virginia 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
Virginia, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$4,398
Ownwell’s Virginia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Virginia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Virginia 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 Virginia, Nebraska
Property taxes in Virginia, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Virginia is 1.05%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Virginia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Virginia 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 Virginia's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68458 zip code has the highest median property tax rate of 1.05%, while the same zip code has the lowest median tax rate of 1.05%. Understanding how these cities compare with Virginia provides valuable insights into the varying tax landscape across Pawnee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Virginia Tax Rate
1.05%
Average Pawnee County Tax Rate
1.35%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Virginia, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68458 | 0.69% | 0.81% | 1.05% | 1.06% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Virginia, Nebraska
In Virginia, 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 Pawnee 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 Virginia, 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 Virginia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Virginia are both $3,768 in zip code 68458, reflecting the uniformity in property tax assessments within the area.
Average Virginia Assessed Value
$418,892
Average Pawnee County Assessed Value
$62,218
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Virginia, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68458 | $169,535 | $231,928 | $418,892 | $540,686 | $628,275 |
Source: Ownwell
Property Tax Bills Across Virginia, Nebraska
In Virginia, located in Pawnee County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $418,892, homeowners can expect varying tax bills depending on their property's specific assessed value and any applicable exemptions. Factors influencing the tax bill include property size, location, and any improvements made to the home. Additionally, local government budgets and school funding needs play a significant role in setting the tax rate. For homeowners, this means that property taxes can significantly impact annual expenses. In Virginia, the 25th percentile tax bill stands at $2,179, while the 75th percentile reaches $5,664, and the 90th percentile climbs to $6,620, demonstrating a wide range in tax obligations based on property value and local rates.
Average Virginia Tax Bill
$3,768
Average Pawnee County Tax Bill
$947
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Virginia, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68458 | $1,454 | $2,179 | $3,768 | $5,664 | $6,620 |
Source: Ownwell