Kimball, Nebraska Property Taxes
The median property tax rate in Kimball, NE is 2.01%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Kimball at $77,755, the typical annual property tax bill reaches $1,470, which is below the national median of $2,690. Property taxes in Kimball 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 Kimball'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 Kimball 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
Kimball, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.01%
Estimate Property Tax Bill
$1,563
Ownwell’s Kimball Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kimball with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kimball 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 Kimball, Nebraska
Property taxes in Kimball, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kimball is 2.01%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Kimball set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kimball 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 Kimball's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 69145 has the highest median property tax rate of 2.01%, while the same zip code also has the lowest median tax rate of 2.01%. Understanding how these cities compare with Kimball provides valuable insights into the varying tax landscape across Kimball County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kimball Tax Rate
2.01%
Average Kimball County Tax Rate
2.01%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kimball, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69145 | 1.58% | 1.59% | 2.01% | 2.01% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Kimball, Nebraska
In Kimball, 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 Kimball 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 Kimball, 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 Kimball helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Kimball's 69145 zip code is $1,470, which can be compared to the national median property tax rate of 0.99%. By leveraging this information, homeowners can take proactive steps to ensure they are not overpaying.
Average Kimball Assessed Value
$77,755
Average Kimball County Assessed Value
$75,570
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kimball, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69145 | $20,250 | $44,970 | $77,755 | $116,312 | $190,950 |
Source: Ownwell
Property Tax Bills Across Kimball, Nebraska
In Kimball, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Kimball is $77,755. Property tax rates are applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Once the assessed value is established, the local tax rate is applied to determine the tax liability. Homeowners in Kimball can expect their property tax bills to vary significantly. For example, the tax bill at the 25th percentile is approximately $814, while at the 75th percentile, it rises to about $2,189. At the 90th percentile, it can go as high as $3,493. These figures illustrate the range of property tax obligations depending on individual property assessments. Understanding these factors is crucial for homeowners, as property taxes directly impact annual housing costs and long-term financial planning. Compared to the national median property tax rate of 0.99%, Kimball's rates reflect the unique economic and real estate conditions of the area.
Average Kimball Tax Bill
$1,470
Average Kimball County Tax Bill
$1,418
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Kimball, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69145 | $312 | $814 | $1,470 | $2,189 | $3,493 |
Source: Ownwell