Valparaiso, Nebraska Property Taxes
The median property tax rate in Valparaiso, NE is 1.31%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Valparaiso at $319,809, the typical annual property tax bill reaches $4,082, significantly exceeding the national median of $2,690. Property taxes in Valparaiso are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Valparaiso'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 Valparaiso 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
Valparaiso, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$4,189
Ownwell’s Valparaiso Property Tax Bill Calculator helps homeowners, real estate investors, and potential owners estimate their annual property taxes in Valparaiso with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valparaiso 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 Valparaiso, Nebraska
Property taxes in Valparaiso, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valparaiso is 1.31%, significantly higher than the U.S. national median of 0.99%. Local government entities within Valparaiso set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valparaiso 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 Valparaiso's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68065 has both the highest and lowest median property tax rate of 1.31%. Understanding how these areas compare with Valparaiso 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 Valparaiso Tax Rate
1.31%
Average Seward County Tax Rate
1.59%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valparaiso, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68065 | 1.09% | 1.14% | 1.31% | 1.48% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Valparaiso, Nebraska
In Valparaiso, 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 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 Valparaiso, 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 Valparaiso helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Valparaiso Assessed Value
$319,809
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 Valparaiso, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68065 | $187,678 | $231,524 | $319,809 | $428,435 | $567,222 |
Source: Ownwell
Property Tax Bills Across Valparaiso, Nebraska
In Valparaiso, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Valparaiso, the median home price is $319,809. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is $3,042, while the 75th percentile tax bill reaches $5,787. At the 90th percentile, homeowners might see bills as high as $7,911. These property tax bills are influenced by various factors, including changes in the market value of homes and local tax rates. Compared to the national median property tax rate of 0.99%, the rates in Valparaiso might seem higher, reflecting the specific funding needs of the local community, such as schools and infrastructure. High property taxes can impact homeowners by increasing the overall cost of owning a home, which might affect long-term affordability and financial planning.
Average Valparaiso Tax Bill
$4,082
Average Seward County Tax Bill
$2,810
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Valparaiso, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68065 | $1,885 | $3,042 | $4,082 | $5,787 | $7,911 |
Source: Ownwell