Mead, Nebraska Property Taxes
The median property tax rate in Mead, NE is 1.78%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Mead, the typical annual property tax bill reaches $2,804, exceeding the national median of $2,690. Property taxes in Mead 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 Mead'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 Mead 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
Mead, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$2,962
Ownwell’s Mead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mead 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 Mead, Nebraska
Property taxes in Mead, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mead is 1.78%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Mead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mead 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 Mead's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68041 has both the highest and lowest median property tax rate of 1.78%, illustrating the uniformity within this area. Understanding how these cities compare with Mead provides valuable insights into the varying tax landscape across Saunders County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mead Tax Rate
1.78%
Average Saunders County Tax Rate
1.77%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mead, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68041 | 1.32% | 1.33% | 1.78% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Mead, Nebraska
In Mead, 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 Saunders 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 Mead, 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 instance, the median home price in Mead is $166,384, with tax bills ranging from $1,725 at the 25th percentile to $6,824 at the 90th percentile. The highest and lowest median tax bills are both $2,804 in zip code 68041. By understanding 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 Mead helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mead Assessed Value
$166,384
Average Saunders County Assessed Value
$199,000
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mead, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68041 | $59,728 | $99,322 | $166,384 | $253,265 | $502,809 |
Source: Ownwell
Property Tax Bills Across Mead, Nebraska
In Mead, Saunders County, NE, property tax bills are calculated based on the assessed value of your property and the applicable tax rate. The assessed value is determined by the local assessor's office and is a percentage of the market value of your home. Factors such as property size, location, and improvements are considered during assessment. Once the assessed value is established, it is multiplied by the local property tax rate to determine your annual tax bill. For homeowners in Mead, the median home price is $166,384, and property tax bills can vary significantly. The 25th percentile tax bill is around $1,725, while the 75th percentile reaches approximately $4,069. At the higher end, the 90th percentile tax bill can be as much as $6,824. These variations reflect differences in property values and specific neighborhood tax rates. Understanding how these factors affect your tax bill can help you anticipate annual expenses and plan your budget accordingly. The national median property tax rate is 0.99%, providing a benchmark for comparison.
Average Mead Tax Bill
$2,804
Average Saunders County Tax Bill
$3,382
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Mead, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68041 | $888 | $1,725 | $2,804 | $4,069 | $6,824 |
Source: Ownwell