Utica, Nebraska Property Taxes
The median property tax rate in Utica, Nebraska is 1.35%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $148,369 in Utica, the typical annual property tax bill amounts to $1,894, falling below the national median of $2,690. Property taxes in Utica are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Utica'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 Utica or another part of Seward County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Utica, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$2,003
Ownwell’s Utica Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Utica with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Utica to provide an estimated property tax bill. This valuable tool offers insight into potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Utica, Nebraska
Property taxes in Utica, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Utica is 1.35%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Utica set these rates annually, and they can vary significantly across different neighborhoods. Each year, Utica 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 Utica's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68456 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Utica provides valuable insights into the varying tax landscape across Seward County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Utica Tax Rate
1.35%
Average Seward County Tax Rate
1.59%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Utica, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68456 | 0.94% | 1.22% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Utica, Nebraska
In Utica, 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 Seward 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 Utica, 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 Utica helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68456 has both the highest and lowest median tax bill, valued at $1,894.
Average Utica Assessed Value
$148,369
Average Seward County Assessed Value
$185,126
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Utica, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68456 | $51,047 | $90,828 | $148,369 | $203,188 | $383,194 |
Source: Ownwell
Property Tax Bills Across Utica, Nebraska
In Utica, Seward County, NE, property tax bills are calculated by multiplying the assessed value of a home by the local property tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The local property tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the property tax bill, including the home's assessed value, any applicable exemptions, and the specific tax rate set by local government entities. Homeowners in Utica can expect varying tax bills depending on these factors. For instance, the 25th percentile tax bill is around $1,159, while the 75th percentile tax bill reaches approximately $2,554. For those in the 90th percentile, the tax bill can soar to about $4,127. Understanding these calculations is crucial for homeowners, as property taxes significantly impact annual housing costs. With a median home price of $148,369, the property tax rate in Utica can be compared to the national median property tax rate of 0.99%, offering a benchmark for homeowners to gauge their tax obligations.
Average Utica Tax Bill
$1,894
Average Seward County Tax Bill
$2,810
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Utica, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68456 | $590 | $1,159 | $1,894 | $2,554 | $4,127 |
Source: Ownwell