Merriman, Nebraska Property Taxes
The median property tax rate in Merriman, NE is 1.17%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Merriman at $38,361, the typical annual property tax bill amounts to $536, significantly below the national median of $2,690. Property taxes in Merriman are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Merriman'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 Merriman or another part of Cherry County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Merriman, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$449
Ownwell’s Merriman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Merriman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Merriman 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 Merriman, Nebraska
Property taxes in Merriman, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Merriman is 1.17%, higher than the U.S. national median of 0.99%. Local government entities within Merriman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Merriman 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 Merriman's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69218 zip code has the highest median property tax rate of 1.17%, while the 69218 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Merriman 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 Merriman 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 Merriman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69218 | 0.77% | 0.93% | 1.17% | 1.39% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Merriman, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Merriman, 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 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 Merriman, 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 Merriman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 69218, with a bill of $536.00.
Average Merriman Assessed Value
$38,361
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 Merriman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69218 | $2,857 | $10,906 | $38,361 | $139,715 | $389,060 |
Source: Ownwell
Property Tax Bills Across Merriman, Nebraska
In Merriman, property tax bills are calculated based on the assessed value of a home, which is determined by the Cherry County Assessor's Office. This assessed value is a percentage of the home's market value. The property tax rate in Merriman is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the home's location, size, and any applicable exemptions. For example, the median home price in Merriman is $38,361. Property tax bills can vary significantly, with the 25th percentile tax bill at $136 and the 75th percentile reaching $1,737. At the 90th percentile, some homeowners may pay as much as $4,182 annually. The highest and lowest median tax bills in Merriman are both $536, indicating some uniformity in certain areas. Homeowners in Merriman should be aware of these variations as property taxes can significantly impact their annual expenses, especially when compared to the national median property tax rate of 0.99%.
Average Merriman Tax Bill
$536
Average Cherry County Tax Bill
$1,288
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Merriman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69218 | $46 | $136 | $536 | $1,737 | $4,182 |
Source: Ownwell