Clarks, Nebraska Property Taxes
The median property tax rate in Clarks, NE is 1.43%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Clarks at $408,292, the typical annual property tax bill reaches $5,839, significantly exceeding the national median of $2,690. Property taxes in Clarks 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 Clarks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Clarks 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
Clarks, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$3,838
Ownwell’s Clarks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarks 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 Clarks, Nebraska
Property taxes in Clarks, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarks is 1.69%, higher than both the Nebraska state median of 1.73% and the U.S. national median of 0.99%. Local government entities within Clarks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarks 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 Clarks's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68628 zip code in Polk County has the highest median property tax rate of 1.69%, while the 68628 zip code in Polk County also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Clarks provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clarks Tax Rate
0.94%
Average Polk County Tax Rate
1.34%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarks, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68628 | 0.92% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Clarks, Nebraska
In Clarks, 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 appraisal district 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 Clarks, 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 Clarks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Clarks is 68628, with a median bill of $3,837.
Average Clarks Assessed Value
$408,292
Average Polk County Assessed Value
$118,165
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clarks, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68628 | $144,598 | $180,889 | $408,292 | $510,825 | $752,087 |
Source: Ownwell
Property Tax Bills Across Clarks, Nebraska
In Clarks, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Clarks is $408,292, and the property tax rate in Polk County is a key factor in determining the final bill. Homeowners in Clarks can expect their tax bills to vary significantly depending on their property's assessed value and the specific tax rates applied. For instance, the 25th percentile of tax bills is $1,793, indicating that a quarter of the homeowners pay this amount or less. Meanwhile, the 75th percentile tax bill is $4,900, and the 90th percentile tax bill reaches up to $7,105. These figures illustrate the range of property tax burdens that homeowners might face. Compared to the national median property tax rate of 0.99%, Clarks' property tax bills can be relatively high, impacting the financial planning and budgeting of its residents.
Average Clarks Tax Bill
$3,837
Average Polk County Tax Bill
$1,628
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarks, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68628 | $1,373 | $1,793 | $3,837 | $4,900 | $7,105 |
Source: Ownwell