Rising City, Nebraska Property Taxes
The median property tax rate in Rising City, NE is 1.05%, slightly above the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $150,458 in Rising City, the typical annual property tax bill amounts to $1,578, which is below the national median of $2,690. Property taxes in Rising City are calculated based on the tax-assessed value, which is often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. By understanding Rising City's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in Rising City or another part of Polk County, being well-informed about the local property tax system can provide significant financial benefits.
Last Updated June 14, 2024
Rising City, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,580
Ownwell’s Rising City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rising City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rising 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 Rising City, Nebraska
Property taxes in Rising City, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rising City is 1.05%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Rising City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rising 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 Rising City's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68658 zip code has the highest median property tax rate of 1.05%, while the 68658 zip code has the lowest median tax rate of 1.05%. Understanding how these cities compare with Rising City 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 Rising City Tax Rate
1.05%
Average Polk County Tax Rate
1.34%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rising City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68658 | 1.05% | 1.05% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Rising City, Nebraska
In Rising 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 Polk County 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 Rising 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. Being aware of these valuation processes in Rising City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $150,458, with the highest median tax bill being $1,578 in the 68658 zip code.
Average Rising City Assessed Value
$150,458
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 Rising City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68658 | $138,332 | $142,905 | $150,458 | $156,383 | $158,025 |
Source: Ownwell
Property Tax Bills Across Rising City, Nebraska
In Rising City, located in Polk 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 a percentage of the market value of the property. Local tax rates are applied to this assessed value to calculate the annual tax bill. For example, in Rising City, the median home price is $150,458, and property tax bills can range significantly. The 25th percentile tax bill is around $1,499, while the 75th percentile tax bill is approximately $1,640. The highest median tax bill in the area reaches up to $1,578. These figures highlight the variability in tax bills based on property value and local tax rates. Homeowners in Rising City must budget for these property taxes, which can impact their overall financial planning. With the national median property tax rate at 0.99%, homeowners in Rising City may find their tax bills either above or below this national benchmark, affecting their cost of living and financial decisions.
Average Rising City Tax Bill
$1,578
Average Polk County Tax Bill
$1,628
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Rising City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68658 | $1,451 | $1,499 | $1,578 | $1,640 | $1,657 |
Source: Ownwell