Nora, Nebraska Property Taxes
The median property tax rate in NORA, NE is 1.10%, slightly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $31,835 in NORA, the typical annual property tax bill amounts to $348, which is well below the national median of $2,690. Property taxes in NORA are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding NORA'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 NORA 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
Nora, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$350
Ownwell’s NORA Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in NORA with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in NORA to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed financial decisions. For those interested in more granular insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Nora, Nebraska
Property taxes in NORA, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in NORA is 1.10%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within NORA set these rates annually, and they can vary significantly across different neighborhoods. Each year, NORA 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 NORA's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68961 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with NORA provides valuable insights into the varying tax landscape across Nuckolls County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nora Tax Rate
1.10%
Average Nuckolls County Tax Rate
1.58%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nora, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68961 | 1.09% | 1.09% | 1.10% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Nora, Nebraska
In NORA, 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 Nuckolls 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 NORA, 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. For example, the median home price in NORA is $31,835, and tax bills vary widely. The 25th percentile tax bill is $279, while the 75th percentile tax bill is $418, and the 90th percentile tax bill is $459. The zip code 68961 has the highest and lowest median tax bill of $348. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nora Assessed Value
$31,835
Average Nuckolls County Assessed Value
$44,235
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nora, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68961 | $21,587 | $25,430 | $31,835 | $38,240 | $42,083 |
Source: Ownwell
Property Tax Bills Across Nora, Nebraska
In NORA, located in Nuckolls County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in NORA, the property tax bills can vary significantly. The 25th percentile tax bill is around $279, while the 75th percentile tax bill reaches $418, and the 90th percentile is $459. This range indicates that most homeowners fall within these figures, depending on their property's value and specific circumstances. Compared to the national median property tax rate of 0.99%, Nuckolls County's rates can provide a different financial landscape for homeowners. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Nora Tax Bill
$348
Average Nuckolls County Tax Bill
$697
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Nora, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68961 | $237 | $279 | $348 | $418 | $459 |
Source: Ownwell