Emerson, Nebraska Property Taxes
The median property tax rate in Emerson, NE is 1.60%, 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 Emerson at $128,268, the typical annual property tax bill reaches $1,755, which is below the national median of $2,690. Property taxes in Emerson 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 Emerson'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 Emerson 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
Emerson, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$2,052
Ownwell’s Emerson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Emerson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emerson 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 Emerson, Nebraska
Property taxes in Emerson, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emerson is 1.60%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Emerson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emerson 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 Emerson's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68733 has the highest median property tax rate of 1.60%, while the lowest median tax rate is also 1.60%. Understanding how these cities compare with Emerson provides valuable insights into the varying tax landscape across Dakota County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emerson Tax Rate
1.60%
Average Dakota County Tax Rate
1.91%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emerson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68733 | 1.15% | 1.20% | 1.60% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Emerson, Nebraska
In Emerson, 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 Dakota County Assessor 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 Emerson, 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 Emerson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68733 has the highest and lowest median tax bill, both at $1,755.
Average Emerson Assessed Value
$128,268
Average Dakota County Assessed Value
$134,320
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emerson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68733 | $50,622 | $79,218 | $128,268 | $203,859 | $397,645 |
Source: Ownwell
Property Tax Bills Across Emerson, Nebraska
In Emerson, property tax bills are calculated based on the assessed value of a home, which is determined by the Dakota County Assessor's Office. The assessed value is a percentage of the market value of the property. Homeowners in Emerson may see a range of property tax bills depending on various factors such as the size, location, and condition of their property. The median home price in Emerson stands at $128,268. Property tax bills can vary significantly, with the 25th percentile paying around $1,014 and the 75th percentile seeing bills up to $2,703. At the higher end, the 90th percentile of homeowners might face tax bills as high as $4,884. The highest median tax bill in Dakota County is $1,755, which is relatively moderate compared to the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by influencing their overall cost of living, potentially affecting decisions related to homeownership, property investments, and long-term financial planning.
Average Emerson Tax Bill
$1,755
Average Dakota County Tax Bill
$2,267
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Emerson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68733 | $492 | $1,014 | $1,755 | $2,703 | $4,884 |
Source: Ownwell