Ericson, Nebraska Property Taxes
The median property tax rate in Ericson, NE is 0.86%, which is notably lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $252,652 in Ericson, the typical annual property tax bill amounts to $2,183, falling below the national median of $2,690. Property taxes in Ericson are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Ericson'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 Ericson or another part of Greeley County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ericson, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$2,173
Ownwell’s Ericson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ericson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ericson 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 Ericson, Nebraska
Property taxes in Ericson, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ericson is 0.86%, lower than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Ericson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ericson 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 Ericson's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68637 zip code has the highest median property tax rate of 0.86%, while the 68637 zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Ericson provides valuable insights into the varying tax landscape across Greeley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ericson Tax Rate
0.86%
Average Greeley County Tax Rate
1.34%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ericson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68637 | 0.85% | 0.86% | 0.86% | 0.86% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Ericson, Nebraska
In Ericson, 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 Greeley 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 Ericson, 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. Notably, the highest and lowest median tax bills in Ericson both stand at $2183, specifically in the 68637 zip code. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ericson Assessed Value
$252,652
Average Greeley County Assessed Value
$86,605
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ericson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68637 | $125,252 | $188,341 | $252,652 | $499,638 | $966,598 |
Source: Ownwell
Property Tax Bills Across Ericson, Nebraska
In Ericson, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local government in Greeley County determines this assessed value, and the property tax rate is then applied to it. Several factors influence the tax bill, including the property's location, size, and any improvements made. For example, in Ericson, the median home price is $252,652, and the property tax rate is applied to this value to determine the tax bill. Homeowners in Ericson can expect their tax bills to vary significantly. The 25th percentile tax bill is around $1,617, while at the 75th percentile, it rises to $5,123. For those at the 90th percentile, the tax bill can be as high as $8,172. This range shows how property taxes can impact homeowners differently, depending on the assessed value of their properties. Compared to the national median property tax rate of 0.99%, Ericson's property taxes reflect the local economic conditions and the specific needs of the community.
Average Ericson Tax Bill
$2,183
Average Greeley County Tax Bill
$1,502
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Ericson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68637 | $1,082 | $1,617 | $2,183 | $5,123 | $8,172 |
Source: Ownwell