Oconto, Nebraska Property Taxes
The median property tax rate in Oconto, Nebraska is 1.41%, which is significantly higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Oconto, the typical annual property tax bill reaches $7,074, far exceeding the national median of $2,690. Property taxes in Oconto 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 Oconto'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 Oconto 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
Oconto, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$7,619
Ownwell’s Oconto Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oconto with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oconto 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 Oconto, Nebraska
Property taxes in Oconto, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oconto is 1.41%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Oconto set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oconto 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 Oconto's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68860 has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Oconto provides valuable insights into the varying tax landscape across Dawson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oconto Tax Rate
1.41%
Average Dawson County Tax Rate
1.81%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oconto, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68860 | 1.20% | 1.34% | 1.41% | 1.41% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Oconto, Nebraska
In Oconto, 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 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 Oconto, 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 Oconto helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $7,074 in zip code 68860, while the lowest median tax bill is also $7,074 in the same zip code.
Average Oconto Assessed Value
$540,382
Average Dawson County Assessed Value
$101,091
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oconto, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68860 | $361,062 | $397,782 | $540,382 | $675,138 | $697,740 |
Source: Ownwell
Property Tax Bills Across Oconto, Nebraska
In Oconto, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Oconto is $540,382, and homeowners can expect a tax bill around this value to vary significantly. For example, the 25th percentile tax bill is $4,758, while the 75th percentile tax bill rises to $9,529. At the 90th percentile, the tax bill can reach up to $9,845. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, Oconto’s property taxes can be substantial, impacting homeowners' annual expenses. Understanding these factors and how they contribute to the overall tax bill can help homeowners better prepare for their financial obligations.
Average Oconto Tax Bill
$7,074
Average Dawson County Tax Bill
$1,900
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Oconto, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68860 | $4,691 | $4,758 | $7,074 | $9,529 | $9,845 |
Source: Ownwell