Nance County Property Taxes
The median property tax rate in Nance County is 1.73%, which is significantly higher than the national median of 0.99% but slightly lower than Nebraska's state median of 1.75%. With the median home value in Nance County at $104,025, the typical annual property tax bill reaches $1,688, which is below the national median of $2,690. Property taxes in Nance County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Nance County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Fullerton or another part of Nance County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nance County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$1,800
Ownwell’s Nance County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Nance County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Nance County to estimate your property tax bill. This tool provides valuable insights into potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more localized informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Nance County, Nebraska
Property taxes in Nance County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Nance County is 1.73%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Nance County set these rates annually, and they can vary significantly between different areas within the county. Each year, Nance County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Fullerton has one of the higher property tax rates in Nebraska at 1.88%, while the city of Cedar Rapids boasts one of the lowest at 0.96%. Analyzing how Nance County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Nance County Tax Rate
1.73%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nance County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belgrade | 0.95% | 1.27% | 1.35% | 1.35% | 1.68% |
| Cedar Rapids | 0.94% | 0.95% | 0.96% | 0.96% | 0.96% |
| Clarks | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
| Fullerton | 1.25% | 1.27% | 1.88% | 1.88% | 1.88% |
| Genoa | 1.19% | 1.20% | 1.73% | 1.73% | 1.73% |
| Palmer | 1.25% | 1.27% | 1.35% | 1.36% | 1.37% |
| Saint Edward | 0.26% | 1.03% | 1.05% | 1.15% | 1.19% |
| Silver Creek | 1.06% | 1.21% | 1.23% | 1.24% | 1.25% |
| Wolbach | 1.29% | 1.30% | 1.30% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Nance County, Nebraska
In Nance County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Nance County Appraisal District. The assessed value, however, 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. Assessment notices in Nance County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Clarks has the highest median tax bill at $4,314, while Belgrade has the lowest at $508. Being aware of these valuation processes in Nance County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Nance County Assessed Value
$104,025
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nance County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belgrade | $4,395 | $14,145 | $42,050 | $154,760 | $505,052 |
| Cedar Rapids | $65,206 | $82,210 | $110,550 | $279,738 | $381,250 |
| Clarks | $429,445 | $429,445 | $429,445 | $429,445 | $429,445 |
| Fullerton | $19,542 | $47,024 | $95,868 | $172,700 | $406,622 |
| Genoa | $25,352 | $58,110 | $109,965 | $200,041 | $390,625 |
| Palmer | $116,511 | $180,160 | $322,562 | $490,081 | $697,467 |
| Saint Edward | $118,955 | $200,420 | $393,645 | $734,850 | $857,970 |
| Silver Creek | $106,651 | $154,630 | $257,100 | $672,130 | $725,790 |
| Wolbach | $56,329 | $57,280 | $98,585 | $201,555 | $313,458 |
Source: Ownwell
Property Tax Bills Across Nance County, Nebraska
In Nance County, NE, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor's office. The assessed value is a percentage of the property's market value. Several factors influence the final tax bill, including the property's location, size, and any improvements made. Homeowners in Nance County can expect varying tax bills depending on these factors. For instance, the tax bill at the 25th percentile is $732, while at the 75th percentile, it rises to $3,176. The top 10% of tax bills can go as high as $5,828. The highest median tax bill in the county is found in Clarks at $4,314, whereas Belgrade has the lowest at $508. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services. Homeowners should be aware of their property's assessed value and the corresponding tax rate to understand their annual tax obligations better.
Average Nance County Tax Bill
$1,688
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Nance County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belgrade | $59 | $182 | $508 | $2,635 | $6,501 |
| Cedar Rapids | $629 | $793 | $1,067 | $2,639 | $3,582 |
| Clarks | $4,314 | $4,314 | $4,314 | $4,314 | $4,314 |
| Fullerton | $317 | $789 | $1,686 | $2,931 | $5,393 |
| Genoa | $322 | $878 | $1,689 | $2,875 | $5,125 |
| Palmer | $1,593 | $2,320 | $4,224 | $6,626 | $8,879 |
| Saint Edward | $308 | $2,222 | $4,087 | $7,682 | $8,851 |
| Silver Creek | $1,329 | $1,900 | $3,198 | $7,151 | $8,846 |
| Wolbach | $732 | $744 | $1,281 | $2,618 | $4,020 |
Source: Ownwell