Comstock, Nebraska Property Taxes
The median property tax rate in Comstock, NE is 1.29%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Comstock at $385,490, the typical annual property tax bill reaches $4,499, exceeding the national median of $2,690. Property taxes in Comstock 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 Comstock'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 Comstock or another part of Valley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Comstock, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$4,973
Ownwell’s Comstock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Comstock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Comstock 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 Comstock, Nebraska
Property taxes in Comstock, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Comstock is 2.02%, significantly higher than both the Nebraska state median of 1.73% and the U.S. national median of 0.99%. Local government entities within Comstock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Comstock 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 Comstock's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68828 zip code has the highest median property tax rate of 2.02%, while the lowest median tax rate is also 2.02%. Understanding how these cities compare with Comstock provides valuable insights into the varying tax landscape across Valley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Comstock Tax Rate
1.29%
Average Valley County Tax Rate
1.81%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Comstock, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68828 | 1.28% | 1.29% | 1.29% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Comstock, Nebraska
In Comstock, 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 Valley 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 Comstock, 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 Comstock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Valley County is 68828, with a median tax bill of $4,499.
Average Comstock Assessed Value
$385,490
Average Valley County Assessed Value
$94,595
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Comstock, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68828 | $122,786 | $195,245 | $385,490 | $527,132 | $670,372 |
Source: Ownwell
Property Tax Bills Across Comstock, Nebraska
In Comstock, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and typically reflects a percentage of the property's market value. For homeowners in Comstock, located in Valley County, the median home price is $385,490. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, the tax bill can vary significantly, with the 25th percentile paying around $2,543 and the 75th percentile facing bills as high as $6,846. At the 90th percentile, homeowners might see tax bills reaching $7,800. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners in Comstock, therefore, need to budget for these taxes, which can be a considerable annual expense compared to the national median property tax rate of 0.99%.
Average Comstock Tax Bill
$4,499
Average Valley County Tax Bill
$1,656
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Comstock, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68828 | $1,619 | $2,543 | $4,499 | $6,846 | $7,800 |
Source: Ownwell