Mitchell, Nebraska Property Taxes
The median property tax rate in Mitchell, NE is 1.31%, 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 of $206,038 in Mitchell, the typical annual property tax bill is approximately $2,589, slightly below the national median of $2,690. Property taxes in Mitchell are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mitchell'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 Mitchell or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mitchell, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,699
Ownwell’s Mitchell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mitchell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mitchell 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 Mitchell, Nebraska
Property taxes in Mitchell, Nebraska, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Mitchell is 1.31%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mitchell set these rates annually, and they can vary across different neighborhoods. Each year, Mitchell 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 Mitchell's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 69357 within Mitchell has both the highest and lowest median property tax rate of 1.31%. Understanding how these areas compare with Mitchell provides valuable insights into the varying tax landscape across Sioux County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mitchell Tax Rate
1.31%
Average Sioux County Tax Rate
1.02%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mitchell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69357 | 1.00% | 1.30% | 1.31% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Mitchell, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mitchell, Nebraska. 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 Sioux 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 Mitchell, 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. For example, the highest median tax bill in the area is $2,589 in zip code 69357, while the lowest is also $2,589 in the same zip code. 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 Mitchell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mitchell Assessed Value
$206,038
Average Sioux County Assessed Value
$127,559
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mitchell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69357 | $68,243 | $114,941 | $206,038 | $328,034 | $469,983 |
Source: Ownwell
Property Tax Bills Across Mitchell, Nebraska
In Mitchell, NE, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This valuation considers various factors, including the property's size, location, and any improvements made. Once the assessed value is established, it is multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Mitchell, the median home price is $206,038. Depending on the property's specifics, tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,515, while the 75th percentile reaches $3,965. At the higher end, the 90th percentile tax bill can be as much as $6,115. These property tax bills have a substantial impact on homeowners, affecting monthly mortgage payments and overall housing affordability. Compared to the national median property tax rate of 0.99%, Mitchell's rates reflect the local government's funding needs and the value assessments of homes in the area. This variation underscores the importance of understanding local tax policies and their financial implications for property owners.
Average Mitchell Tax Bill
$2,589
Average Sioux County Tax Bill
$1,454
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Mitchell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69357 | $729 | $1,515 | $2,589 | $3,965 | $6,115 |
Source: Ownwell