Emerson, Nebraska Property Taxes
The median property tax rate in Emerson, NE is 1.71%, slightly lower than the state median of 1.75% but significantly higher than the national median of 0.99%. With the median home value in Emerson at $61,640, the typical annual property tax bill reaches $1,000, which is below the national median of $2,690. Property taxes in Emerson are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Emerson'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 Emerson 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
Emerson, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$1,054
Ownwell’s Emerson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Emerson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emerson 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 Emerson, Nebraska
Property taxes in Emerson, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emerson is 1.71%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Emerson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emerson 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 Emerson's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68733 zip code has the highest median property tax rate of 1.71%, while the lowest median tax rate is also 1.71%. Understanding how these cities compare with Emerson provides valuable insights into the varying tax landscape across Thurston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emerson Tax Rate
1.71%
Average Thurston County Tax Rate
1.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emerson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68733 | 1.31% | 1.51% | 1.71% | 1.71% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Emerson, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Emerson, 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 Thurston 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 Emerson, 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 instance, the median home price in Emerson is $61,640, with tax bills ranging from $579 at the 25th percentile to $5,530 at the 90th percentile. The zip code 68733 has the highest and lowest median tax bill of $1,000. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Emerson Assessed Value
$61,640
Average Thurston County Assessed Value
$86,240
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emerson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68733 | $21,827 | $33,448 | $61,640 | $100,925 | $364,892 |
Source: Ownwell
Property Tax Bills Across Emerson, Nebraska
In Emerson, located in Thurston County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the property tax rate set by local taxing authorities. For homeowners in Emerson, the median home price stands at $61,640. The tax bill can vary widely among homeowners. At the 25th percentile, the annual tax bill is around $579, while at the 75th percentile, it increases to approximately $1,625. For those in the 90th percentile, the tax bill can soar to $5,530. These variations highlight how different factors, such as property size, location, and improvements, influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Emerson's rates reflect the local economic conditions and funding needs for public services. Homeowners need to be aware of these factors as they significantly impact their annual financial obligations.
Average Emerson Tax Bill
$1,000
Average Thurston County Tax Bill
$1,554
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Emerson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68733 | $357 | $579 | $1,000 | $1,625 | $5,530 |
Source: Ownwell