Omaha, Nebraska Property Taxes
The median property tax rate in Omaha, NE is 1.71%, slightly lower than Nebraska's state median of 1.75% but significantly higher than the national median of 0.99%. With the median home value in Omaha at $335,860, the typical annual property tax bill reaches $5,550, which is well above the national median of $2,690. Property taxes in Omaha are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Omaha's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Omaha or another part of Washington County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Omaha, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$5,743
Ownwell’s Omaha Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Omaha with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Omaha 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 Omaha, Nebraska
Property taxes in Omaha, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Omaha is 1.71%, significantly higher than the U.S. national median of 0.99%. Local government entities within Omaha set these rates annually, and they can vary significantly across different neighborhoods. Each year, Omaha 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 Omaha's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68131 zip code has the highest median property tax rate of 1.71%, while the 68142 zip code has the lowest median tax rate of 1.56%. Understanding how these cities compare with Omaha provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Omaha Tax Rate
1.71%
Average Washington County Tax Rate
1.71%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Omaha, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68112 | 1.69% | 1.71% | 1.71% | 1.71% | 1.71% |
| 68122 | 1.70% | 1.71% | 1.71% | 1.71% | 1.71% |
| 68131 | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% |
| 68142 | 1.55% | 1.56% | 1.56% | 1.56% | 1.56% |
| 68152 | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Omaha, Nebraska
In Omaha, 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 Washington 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. 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 highest median tax bill in Omaha is $21,470 in the 68131 zip code, while the lowest is $4,265 in the 68152 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Omaha Assessed Value
$335,860
Average Washington County Assessed Value
$234,648
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Omaha, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68112 | $59,338 | $149,420 | $275,358 | $389,586 | $658,332 |
| 68122 | $252,475 | $334,015 | $412,730 | $508,895 | $662,716 |
| 68131 | $1,254,610 | $1,254,610 | $1,254,610 | $1,254,610 | $1,254,610 |
| 68142 | $204,214 | $264,192 | $339,145 | $469,516 | $671,584 |
| 68152 | $161,102 | $198,911 | $250,210 | $443,338 | $851,170 |
Source: Ownwell
Property Tax Bills Across Omaha, Nebraska
In Omaha, Washington County, NE, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. Various factors influence this assessment, including the property's location, size, and condition. The local tax rate is applied to the assessed value to determine the annual property tax bill. For homeowners in Omaha, the median home price stands at $335,860. Property tax bills can vary significantly, with the 25th percentile at $3,764 and the 75th percentile reaching $8,039. At the higher end, the 90th percentile sees tax bills around $12,241. The highest median tax bill in the area is $21,470 in zip code 68131, while the lowest is $4,265 in zip code 68152. These taxes fund essential public services like schools, infrastructure, and emergency services, impacting the overall cost of homeownership in the region.
Average Omaha Tax Bill
$5,550
Average Washington County Tax Bill
$4,036
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Omaha, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68112 | $960 | $1,638 | $4,706 | $7,143 | $11,297 |
| 68122 | $3,702 | $5,339 | $6,966 | $8,733 | $11,357 |
| 68131 | $21,470 | $21,470 | $21,470 | $21,470 | $21,470 |
| 68142 | $2,739 | $4,045 | $5,293 | $7,306 | $11,170 |
| 68152 | $2,469 | $3,238 | $4,265 | $7,908 | $14,673 |
Source: Ownwell