Taylor, Nebraska Property Taxes
The median property tax rate in Taylor, NE is 1.64%, which is considerably higher than the national median of 0.99% but slightly below the Nebraska state median of 1.75%. With the median home value in Taylor at $64,150, the typical annual property tax bill reaches $914, which is well below the national median of $2,690. Property taxes in Taylor 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 Taylor'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 Taylor 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
Taylor, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$1,052
Ownwell’s Taylor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taylor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taylor 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 Taylor, Nebraska
Property taxes in Taylor, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Taylor is 1.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Taylor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Taylor 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 Taylor's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68879 has the highest and lowest median property tax rate of 1.64%. Understanding how these areas compare with Taylor provides valuable insights into the varying tax landscape across Loup County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Taylor Tax Rate
1.64%
Average Loup County Tax Rate
0.97%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taylor, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68879 | 0.95% | 0.95% | 1.64% | 1.64% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Taylor, Nebraska
In Taylor, 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 Loup 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 Taylor, 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 Taylor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Taylor is $914 in zip code 68879, which is also the lowest median tax bill in the area.
Average Taylor Assessed Value
$64,150
Average Loup County Assessed Value
$136,618
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Taylor, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68879 | $9,260 | $23,130 | $64,150 | $187,710 | $458,011 |
Source: Ownwell
Property Tax Bills Across Taylor, Nebraska
In Taylor, located in Loup County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Taylor is $64,150. Property taxes are determined by multiplying the assessed value by the local tax rate. For instance, if the local tax rate aligns with the national median of 0.99%, a home valued at the median price would have an estimated tax bill of approximately $635. However, actual tax bills can vary significantly. The 25th percentile tax bill is $313, while the 75th percentile tax bill is $2,017, indicating a wide range in tax obligations among homeowners. The 90th percentile tax bill reaches up to $4,478, reflecting higher assessments or additional levies. These taxes fund essential community services, impacting homeowners by contributing to public education, infrastructure, and safety services. Understanding these factors helps homeowners anticipate their annual financial commitments and plan accordingly.
Average Taylor Tax Bill
$914
Average Loup County Tax Bill
$1,474
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Taylor, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68879 | $138 | $313 | $914 | $2,017 | $4,478 |
Source: Ownwell