Verdel, Nebraska Property Taxes
The median property tax rate in Verdel, NE is 1.39%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Verdel at $43,245, the typical annual property tax bill reaches $600, which is significantly below the national median of $2,690. Property taxes in Verdel 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 Verdel'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 Verdel 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
Verdel, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$601
Ownwell’s Verdel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Verdel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Verdel 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 Knox County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Verdel, Nebraska
Property taxes in Verdel, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Verdel is 1.39%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Verdel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Verdel 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 Verdel's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68760 has both the highest and lowest median property tax rate of 1.39%. Understanding how these cities compare with Verdel provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Verdel Tax Rate
1.39%
Average Knox County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Verdel, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68760 | 1.39% | 1.39% | 1.39% | 1.49% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Verdel, Nebraska
In Verdel, 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 Knox 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 Verdel, 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 Verdel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $600, found in zip code 68760.
Average Verdel Assessed Value
$43,245
Average Knox County Assessed Value
$96,140
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Verdel, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68760 | $38,657 | $40,378 | $43,245 | $49,342 | $53,001 |
Source: Ownwell
Property Tax Bills Across Verdel, Nebraska
In Verdel, located in Knox County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Verdel stands at $43,245. Homeowners in this area can expect their property tax bills to vary, with the 25th percentile tax bill being $561 and the 75th percentile tax bill reaching $739. For those in the 90th percentile, the tax bill can go up to $822. The property tax rate in Verdel is influenced by local government budgets and the needs of public services such as schools, infrastructure, and emergency services. Despite the relatively low home prices, the property tax rates ensure that essential community services are adequately funded. Homeowners in Verdel should be aware that their tax bills may fluctuate based on changes in assessed property values and adjustments in local tax rates. This directly impacts their annual financial planning and the overall affordability of homeownership in the region.
Average Verdel Tax Bill
$600
Average Knox County Tax Bill
$1,362
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Verdel, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68760 | $537 | $561 | $600 | $739 | $822 |
Source: Ownwell