Central City, Nebraska Property Taxes
The median property tax rate in Central City, NE is 1.64%, which is considerably higher than the national median of 0.99% but slightly lower than Nebraska's state median of 1.75%. With a median home value of $126,772 in Central City, the typical annual property tax bill amounts to $1,961, falling below the national median of $2,690. Property taxes in Central City are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Central City'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 Central City or another part of Merrick County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Central City, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$2,079
Ownwell’s CENTRAL CITY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CENTRAL CITY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CENTRAL CITY 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 Central City, Nebraska
Property taxes in Central City, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Central City is 1.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Central City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Central City 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 Central City's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68826 zip code has both the highest and lowest median property tax rate of 1.64%. Understanding how these areas compare with Central City provides valuable insights into the varying tax landscape across Merrick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Central City Tax Rate
1.64%
Average Merrick County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Central City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68826 | 1.27% | 1.28% | 1.64% | 1.64% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Central City, Nebraska
In CENTRAL CITY, 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 Merrick 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 CENTRAL CITY, 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. The median home price in CENTRAL CITY is $126,772, with tax bills ranging from $1,220 at the 25th percentile to $4,703 at the 90th percentile. The highest and lowest median tax bill is $1,961 in zip code 68826. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Central City Assessed Value
$126,772
Average Merrick County Assessed Value
$135,822
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Central City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68826 | $39,678 | $80,136 | $126,772 | $193,076 | $320,036 |
Source: Ownwell
Property Tax Bills Across Central City, Nebraska
In Central City, Merrick County, NE, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in the area is $126,772. Property taxes are influenced by several factors, including property size, location, and any improvements made. The local tax rate is applied to the assessed value to determine the tax bill. For example, homeowners in the 25th percentile of tax bills pay around $1,220, while those in the 75th percentile pay about $2,992. The highest tax bills, in the 90th percentile, can reach up to $4,703. Compared to the national median property tax rate of 0.99%, Merrick County homeowners generally face moderate tax bills. The highest and lowest median tax bill in the county is $1,961, indicating a relatively uniform tax rate across different areas. Understanding these factors can help homeowners anticipate their annual property tax expenses and budget accordingly.
Average Central City Tax Bill
$1,961
Average Merrick County Tax Bill
$1,907
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Central City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68826 | $561 | $1,220 | $1,961 | $2,992 | $4,703 |
Source: Ownwell