Cordova, Nebraska Property Taxes
The median property tax rate in Cordova, Nebraska is 1.37%, 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 Cordova at $70,780, the typical annual property tax bill reaches $863, which is below the national median of $2,690. Property taxes in Cordova 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 Cordova'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 Cordova 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
Cordova, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$970
Ownwell’s Cordova Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cordova with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cordova 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 Cordova, Nebraska
Property taxes in Cordova, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cordova is 1.37%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Cordova set these rates annually, and they can vary across different neighborhoods. Each year, Cordova 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 Cordova's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68330 has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Cordova provides valuable insights into the varying tax landscape across Seward County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cordova Tax Rate
1.37%
Average Seward County Tax Rate
1.59%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cordova, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68330 | 1.08% | 1.11% | 1.37% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Cordova, Nebraska
In Cordova, 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 local 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 Cordova, 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. The median home price in Cordova is $70,780, and the annual tax bill ranges from $422 at the 25th percentile to $2,081 at the 90th percentile. The zip code 68330 has the highest and lowest median tax bill, both at $863. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cordova Assessed Value
$70,780
Average Seward County Assessed Value
$185,126
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cordova, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68330 | $9,421 | $38,498 | $70,780 | $109,307 | $152,744 |
Source: Ownwell
Property Tax Bills Across Cordova, Nebraska
In Cordova, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the home's location, size, and condition play a significant role in determining its assessed value. For homeowners in Cordova, property taxes can vary widely. For example, the tax bill for the 25th percentile is $422, while it rises to $1,303 at the 75th percentile and reaches $2,081 at the 90th percentile. The median home price in Cordova is $70,780, and the median tax bill is $863. This is relatively low compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly, ensuring they are prepared for any financial responsibilities tied to property ownership in the region.
Average Cordova Tax Bill
$863
Average Seward County Tax Bill
$2,810
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Cordova, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68330 | $121 | $422 | $863 | $1,303 | $2,081 |
Source: Ownwell