Parks, Nebraska Property Taxes
The median property tax rate in Parks, NE is 0.88%, notably lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Parks at $405,475, the typical annual property tax bill reaches $3,537, which is still higher than the national median of $2,690. Property taxes in Parks are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Parks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Parks 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
Parks, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$3,568
Ownwell’s PARKS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PARKS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PARKS 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 Parks, Nebraska
Property taxes in Parks, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parks is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Parks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parks 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 Parks' effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69041 zip code has both the highest and lowest median property tax rate of 0.88%, underscoring the uniformity of tax rates within the area. Understanding how these cities compare with Parks provides valuable insights into the varying tax landscape across Dundy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parks Tax Rate
0.88%
Average Dundy County Tax Rate
1.23%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parks, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69041 | 0.86% | 0.87% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Parks, Nebraska
In Parks, 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 Dundy 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 Parks, 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. For instance, in Parks, the median home price is $405,475, with the highest median tax bill being $3,537 in the 69041 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Parks Assessed Value
$405,475
Average Dundy County Assessed Value
$60,885
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parks, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69041 | $9,010 | $67,228 | $405,475 | $671,745 | $1,051,310 |
Source: Ownwell
Property Tax Bills Across Parks, Nebraska
In Parks, located in Dundy County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting what the property would likely sell for under normal conditions. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $405,475, homeowners in Parks can expect their property tax bills to vary widely. At the 25th percentile, the tax bill is approximately $706, while at the 75th percentile, it rises to about $6,130. Even higher, at the 90th percentile, homeowners might see tax bills around $9,190. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, homeowners in Parks experience a diverse range of tax obligations depending on their property's assessed value and the specific tax rate applied.
Average Parks Tax Bill
$3,537
Average Dundy County Tax Bill
$729
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Parks, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69041 | $90 | $706 | $3,537 | $6,130 | $9,190 |
Source: Ownwell