Edgar, Nebraska Property Taxes
The median property tax rate in Edgar, NE is 1.67%, which is considerably higher than the national median of 0.99% but slightly below the Nebraska state median of 1.75%. With a median home value of $59,155 in Edgar, the typical annual property tax bill comes to $883, significantly lower than the national median of $2,690. Property taxes in Edgar 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 Edgar'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 Edgar 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
Edgar, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$988
Ownwell’s Edgar Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Edgar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edgar to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For more localized information and trends at the neighborhood level, scroll down to explore further details. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Edgar, Nebraska
Property taxes in Edgar, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edgar is 1.67%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Edgar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edgar 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 Edgar's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68935 has the highest median property tax rate of 1.67%, while the same zip code also has the lowest median tax rate of 1.67%. Understanding how these areas compare with Edgar provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edgar Tax Rate
1.67%
Average Clay County Tax Rate
1.67%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edgar, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68935 | 1.10% | 1.67% | 1.67% | 1.67% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Edgar, Nebraska
In Edgar, 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 Clay 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 Edgar, 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 zip code with the highest median tax bill is 68935, with a median tax bill of $883. Being aware of these valuation processes in Edgar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Edgar Assessed Value
$59,155
Average Clay County Assessed Value
$85,465
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edgar, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68935 | $5,140 | $19,094 | $59,155 | $128,139 | $284,781 |
Source: Ownwell
Property Tax Bills Across Edgar, Nebraska
In Edgar, located in Clay County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Edgar stands at $59,155. Property taxes are then applied to this assessed value using the local tax rate. Factors such as property size, location, and any improvements or renovations play a role in determining the assessed value. Homeowners in Edgar can expect a range in their tax bills. For instance, the tax bill at the 25th percentile is approximately $259, while at the 75th percentile, it rises to about $1,925. The 90th percentile sees tax bills as high as $3,874. These values indicate a significant variation in tax bills within the area, influenced by the diverse property values. Compared to the national median property tax rate of 0.99%, Edgar's rates reflect the local economic conditions and property market. This variation in tax bills can impact homeowners’ financial planning and the overall affordability of owning property in Edgar.
Average Edgar Tax Bill
$883
Average Clay County Tax Bill
$1,360
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Edgar, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68935 | $69 | $259 | $883 | $1,925 | $3,874 |
Source: Ownwell