Bloomfield, Nebraska Property Taxes
The median property tax rate in Bloomfield, NE is 1.13%, considerably higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in Bloomfield at $401,500, the typical annual property tax bill reaches $4,555, exceeding the national median of $2,690. Property taxes in Bloomfield 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 Bloomfield'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 Bloomfield 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
Bloomfield, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$4,537
Ownwell’s BLOOMFIELD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BLOOMFIELD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BLOOMFIELD 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 Bloomfield, Nebraska
Property taxes in Bloomfield, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bloomfield is 1.13%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Bloomfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomfield 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 Bloomfield's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68718 zip code has the highest median property tax rate of 1.13%, while the 68718 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Bloomfield provides valuable insights into the varying tax landscape across Cedar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomfield Tax Rate
1.13%
Average Cedar County Tax Rate
1.45%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bloomfield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68718 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Bloomfield, Nebraska
In Bloomfield, 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 Cedar 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 Bloomfield, 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 Bloomfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $4555 in the 68718 zip code.
Average Bloomfield Assessed Value
$401,500
Average Cedar County Assessed Value
$117,330
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bloomfield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68718 | $401,500 | $401,500 | $401,500 | $401,500 | $401,500 |
Source: Ownwell
Property Tax Bills Across Bloomfield, Nebraska
In Bloomfield, NE, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor's office. The median home price in Bloomfield stands at $401,500. Property taxes are then levied on this assessed value using a specific tax rate set by Cedar County. The national median property tax rate is 0.99%, but local rates can vary. Several factors influence the final tax bill, including property characteristics, location, and any applicable exemptions. For instance, homeowners in Bloomfield can expect a median tax bill around $4,555, which aligns with the 25th, 75th, and 90th percentiles for the area. This uniformity indicates a consistent tax rate applied across different property values. For homeowners, understanding these factors is crucial as property taxes significantly impact annual expenses. Keeping abreast of changes in assessed values and local tax rates can help homeowners anticipate and manage their property tax obligations effectively.
Average Bloomfield Tax Bill
$4,555
Average Cedar County Tax Bill
$1,639
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomfield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68718 | $4,555 | $4,555 | $4,555 | $4,555 | $4,555 |
Source: Ownwell