Elyria, Nebraska Property Taxes
The median property tax rate in Elyria, NE is 1.38%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Elyria, the typical annual property tax bill reaches $1,767, exceeding the national median of $2,690. Property taxes in Elyria 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 Elyria'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 Elyria 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
Elyria, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,387
Ownwell’s Elyria Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Elyria with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elyria 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 Elyria, Nebraska
Property taxes in Elyria, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elyria is 1.38%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elyria set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elyria 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 Elyria's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68837 zip code has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Elyria provides valuable insights into the varying tax landscape across Valley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elyria Tax Rate
1.38%
Average Valley County Tax Rate
1.81%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elyria, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68837 | 1.28% | 1.29% | 1.38% | 1.81% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Elyria, Nebraska
In Elyria, 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 Valley 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 Elyria, 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 Elyria helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is found in zip code 68837, while the lowest is also in the same zip code, both at $1,767.
Average Elyria Assessed Value
$100,532
Average Valley County Assessed Value
$94,595
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elyria, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68837 | $11,565 | $39,969 | $100,532 | $347,815 | $567,602 |
Source: Ownwell
Property Tax Bills Across Elyria, Nebraska
In Elyria, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the home's market value. Homeowners in Elyria can expect a range of property tax bills, influenced by the value of their property and the specific tax rates set by local taxing authorities. Several factors are considered when determining the tax bill, including property size, location, and improvements. For example, in Elyria, the tax bill for the 25th percentile is $784, while the 75th percentile reaches up to $4603. At the higher end, the 90th percentile tax bill is $7392. These variations highlight how differences in property values and local tax rates can significantly impact homeowners. Compared to the national median property tax rate of 0.99%, Elyria's property tax bills can be quite variable, affecting homeowners' financial planning and overall cost of living. Understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Elyria Tax Bill
$1,767
Average Valley County Tax Bill
$1,656
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Elyria, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68837 | $206 | $784 | $1,767 | $4,603 | $7,392 |
Source: Ownwell