Newman Grove, Nebraska Property Taxes
The median property tax rate in Newman Grove, NE is 1.02%, slightly higher than the national median of 0.99% but significantly lower than the Nebraska state median of 1.75%. With a median home value of $354,295 in Newman Grove, the typical annual property tax bill reaches $3,667, surpassing the national median of $2,690. Property taxes in Newman Grove are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Newman Grove'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 Newman Grove 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
Newman Grove, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$3,614
Ownwell’s Newman Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newman Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newman Grove 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 Newman Grove, Nebraska
Property taxes in Newman Grove, Nebraska, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newman Grove is 1.02%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Newman Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newman Grove 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 Newman Grove's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68758 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Newman Grove provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newman Grove Tax Rate
1.02%
Average Platte County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newman Grove, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68758 | 1.00% | 1.01% | 1.02% | 1.03% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Newman Grove, Nebraska
In Newman Grove, 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 local 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 Newman Grove, 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 Newman Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Newman Grove are both $3,667, found in zip code 68758.
Property Tax Assessment Values Across Newman Grove, Nebraska
Source: Ownwell
$55,940
$3,402,373
$6,748,805
Average Newman Grove Assessed Value
$354,295
Average Platte County Assessed Value
$171,615
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newman Grove, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68758 | $47,531 | $151,785 | $354,295 | $816,005 | $1,213,667 |
Source: Ownwell
Property Tax Bills Across Newman Grove, Nebraska
In Newman Grove, Platte County, NE, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $354,295, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Property tax bills in Newman Grove show a significant range, with the 25th percentile at $1,567 and the 90th percentile reaching $12,239. This variation highlights how different factors, such as property size, location, and any applicable exemptions, can influence the final tax amount. The highest median tax bill in the region is $3,667, which aligns with the zip code 68758. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting homeowners by contributing to the community's overall quality of life. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Newman Grove Tax Bill
$3,667
Average Platte County Tax Bill
$2,760
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Newman Grove, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68758 | $688 | $1,567 | $3,667 | $8,599 | $12,239 |
Source: Ownwell