Malmo, Nebraska Property Taxes
The median property tax rate in Malmo, NE is 1.43%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Malmo at $240,167, the typical annual property tax bill reaches $3,166, surpassing the national median of $2,690. Property taxes in Malmo are determined based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a comprehensive understanding of Malmo'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 Malmo or another part of Saunders County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Malmo, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$3,434
Ownwell’s Malmo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malmo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malmo 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 Malmo, Nebraska
Property taxes in Malmo, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malmo is 1.43%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Malmo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malmo 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 Malmo's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68040 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Malmo provides valuable insights into the varying tax landscape across Saunders County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malmo Tax Rate
1.43%
Average Saunders County Tax Rate
1.77%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malmo, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68040 | 1.16% | 1.41% | 1.43% | 1.67% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Malmo, Nebraska
In Malmo, 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 Saunders 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 Malmo, 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 Malmo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Saunders County, zip code 68040 has the highest median tax bill at $3,166, while the lowest median tax bill is also in zip code 68040 at $3,166.
Average Malmo Assessed Value
$240,167
Average Saunders County Assessed Value
$199,000
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malmo, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68040 | $63,803 | $101,606 | $240,167 | $433,454 | $541,506 |
Source: Ownwell
Property Tax Bills Across Malmo, Nebraska
In Malmo, Saunders County, NE, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is influenced by factors such as the property's size, location, and condition. For instance, with a median home price of $240,167, homeowners can expect varying tax bills based on specific criteria and local rates. The tax bill for the 25th percentile is around $1,646, while the 75th percentile sees a significantly higher bill at $5,916. For those in the 90th percentile, the tax bill can reach up to $7,477. The highest median tax bill in the area is $3,166, found in the 68040 zip code. These taxes fund essential public services like schools, roads, and emergency services, directly impacting the community's quality of life. Homeowners should be aware of these factors to better understand and potentially appeal their property tax assessments.
Average Malmo Tax Bill
$3,166
Average Saunders County Tax Bill
$3,382
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Malmo, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68040 | $1,106 | $1,646 | $3,166 | $5,916 | $7,477 |
Source: Ownwell