Washington, Nebraska Property Taxes
The median property tax rate in Washington, NE is 2.21%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Washington, the typical annual property tax bill reaches $3,249, exceeding the national median of $2,690. Property taxes in Washington 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 Washington'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 Washington 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
Washington, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.21%
Estimate Property Tax Bill
$3,243
Ownwell’s Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington 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 Washington, Nebraska
Property taxes in Washington, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington is 2.21%, significantly higher than the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68068 zip code has the highest median property tax rate of 2.21%, while the 68068 zip code has the lowest median tax rate of 2.21%. Understanding how these cities compare with Washington provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Washington Tax Rate
2.21%
Average Washington County Tax Rate
1.71%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68068 | 2.21% | 2.21% | 2.21% | 2.21% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Washington, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Washington, Nebraska. 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 local 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 Washington, 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 Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 68068 has the highest median tax bill at $3,249, while the lowest median tax bill is also $3,249 in the same zip code.
Average Washington Assessed Value
$146,755
Average Washington County Assessed Value
$234,648
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Washington, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68068 | $70,961 | $109,478 | $146,755 | $203,852 | $274,314 |
Source: Ownwell
Property Tax Bills Across Washington, Nebraska
In Washington, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the tax bill. The median home price in Washington is $146,755, and property tax rates can vary significantly within the county. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rates set by local taxing authorities. For instance, homeowners in zip code 68068 experience a median tax bill of $3,249. Across the county, tax bills range widely, with the 25th percentile at $2,320 and the 75th percentile at $4,608. At the 90th percentile, some homeowners face tax bills as high as $6,313. These property taxes significantly impact homeowners by affecting their overall housing costs. Compared to the national median property tax rate of 0.99%, Washington's rates can result in higher tax bills, influencing decisions on homeownership and property investments in the area.
Average Washington Tax Bill
$3,249
Average Washington County Tax Bill
$4,036
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68068 | $310 | $2,320 | $3,249 | $4,608 | $6,313 |
Source: Ownwell