Osceola, Nebraska Property Taxes
The median property tax rate in Osceola, NE is 1.77%, noticeably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Osceola at $120,160, the typical annual property tax bill reaches $1,952, falling below the national median of $2,690. Property taxes in Osceola are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Osceola'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 Osceola 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
Osceola, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$2,127
Ownwell’s Osceola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osceola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osceola 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 Osceola, Nebraska
Property taxes in Osceola, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osceola is 1.77%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Osceola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osceola 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 Osceola's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68651 has the highest median property tax rate of 1.77%, while the same zip code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with Osceola provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osceola Tax Rate
1.77%
Average Polk County Tax Rate
1.34%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osceola, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68651 | 1.11% | 1.13% | 1.77% | 1.77% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Osceola, Nebraska
In Osceola, 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 Polk 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 Osceola, 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 Osceola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68651 has the highest and lowest median tax bill of $1952, reflecting the local property tax landscape.
Average Osceola Assessed Value
$120,160
Average Polk County Assessed Value
$118,165
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osceola, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68651 | $22,925 | $67,705 | $120,160 | $218,900 | $544,779 |
Source: Ownwell
Property Tax Bills Across Osceola, Nebraska
In Osceola, Polk County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For homeowners in Osceola, the median home price is $120,160. Tax bills can vary significantly, with the 25th percentile tax bill at $1,057 and the 75th percentile reaching $3,028. At the higher end, the 90th percentile tax bill is $6,755. The highest and lowest median tax bill both stand at $1,952 in the zip code 68651, reflecting a consistent taxation approach within the area. Understanding how these factors come together helps homeowners anticipate their tax obligations. Compared to the national median property tax rate of 0.99%, Osceola's rates highlight the importance of local assessments and market conditions in determining tax burdens.
Average Osceola Tax Bill
$1,952
Average Polk County Tax Bill
$1,628
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Osceola, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68651 | $336 | $1,057 | $1,952 | $3,028 | $6,755 |
Source: Ownwell