Mills, Nebraska Property Taxes
The median property tax rate in Mills, NE is 0.66%, significantly lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Mills at $174,140, the typical annual property tax bill is around $1,200, well below the national median of $2,690. Property taxes in Mills 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 Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mills 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
Mills, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,149
Ownwell’s Mills Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mills, NE. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Mills to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed insights, scrolling down reveals localized trends at the neighborhood level. Your property’s assessed value, determined by the county, is crucial for these calculations and may include applicable exemptions.
Property Tax Rates Across Mills, Nebraska
Property taxes in Mills, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mills is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mills 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 Mills' effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68753 has both the highest and lowest median property tax rate in the area, at 0.66%. Understanding how these cities compare with Mills provides valuable insights into the varying tax landscape across Keya Paha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mills Tax Rate
0.66%
Average Keya Paha County Tax Rate
0.67%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mills, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68753 | 0.65% | 0.65% | 0.66% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Mills, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mills, Nebraska. 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 Keya Paha 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 Mills, 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 Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mills is $1,200 in the 68753 zip code, while the lowest median tax bill is also $1,200 in the same zip code.
Average Mills Assessed Value
$174,140
Average Keya Paha County Assessed Value
$99,585
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mills, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68753 | $12,155 | $72,050 | $174,140 | $265,965 | $490,675 |
Source: Ownwell
Property Tax Bills Across Mills, Nebraska
In Mills, property tax bills are determined by assessing the market value of a home and applying the local property tax rate. For homeowners, this process begins with the county's assessment of their property's market value. In Keya Paha County, where Mills is located, the median home price stands at $174,140. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, in Mills, the tax bill can vary significantly, with the 25th percentile at $536 and the 75th percentile reaching $1,762. At the 90th percentile, homeowners might see bills as high as $3,244. These variations highlight how property characteristics and local policies can impact tax obligations. Homeowners in Mills should be aware of these factors as they significantly affect their annual financial planning. Comparing these figures to the national median property tax rate of 0.99% offers a clearer perspective on local taxation levels.
Average Mills Tax Bill
$1,200
Average Keya Paha County Tax Bill
$892
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Mills, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68753 | $100 | $536 | $1,200 | $1,762 | $3,244 |
Source: Ownwell