Eli, Nebraska Property Taxes
The median property tax rate in ELI, NE is 1.17%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in ELI, the typical annual property tax bill reaches $33, significantly below the national median of $2,690. Property taxes in ELI 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 ELI'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 ELI 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
Eli, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$33
Ownwell’s ELI Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ELI with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ELI 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 Eli, Nebraska
Property taxes in ELI, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in ELI is 1.17%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within ELI set these rates annually, and they can vary significantly across different neighborhoods. Each year, ELI 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 ELI's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69201 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with ELI provides valuable insights into the varying tax landscape across Cherry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eli Tax Rate
1.17%
Average Cherry County Tax Rate
0.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eli, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69201 | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Eli, Nebraska
In ELI, 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 Cherry 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 ELI, 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 ELI is $2,816, and the tax bills range from $33 at the 25th percentile to $33 at the 90th percentile. 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 ELI helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eli Assessed Value
$2,816
Average Cherry County Assessed Value
$139,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eli, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69201 | $2,816 | $2,816 | $2,816 | $2,816 | $2,816 |
Source: Ownwell
Property Tax Bills Across Eli, Nebraska
In ELI, Cherry County, NE, 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's office, which evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in ELI, the tax bill can vary significantly, with the 25th, 75th, and 90th percentiles all being $33. This indicates a consistent tax bill across different property values, suggesting a relatively uniform tax rate. Given that the national median property tax rate is 0.99%, homeowners in ELI benefit from a lower tax burden compared to many other regions in the country. Understanding how these taxes are calculated helps homeowners plan their finances better and avoid unexpected costs. By maintaining awareness of their property's assessed value and the local tax rate, homeowners can anticipate their annual tax obligations with greater accuracy.
Average Eli Tax Bill
$33
Average Cherry County Tax Bill
$1,288
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Eli, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69201 | $33 | $33 | $33 | $33 | $33 |
Source: Ownwell