Carroll, Nebraska Property Taxes
The median property tax rate in Carroll, NE 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 $115,520 in Carroll, the typical annual property tax bill amounts to $1,862, falling below the national median of $2,690. Property taxes in Carroll are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Carroll'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 Carroll or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carroll, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,560
Ownwell’s Carroll Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carroll with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carroll 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 Carroll, Nebraska
Property taxes in Carroll, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carroll is 1.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Carroll set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carroll 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 Carroll's effective property tax rate to other counties in Nebraska and the national median. For comparison, the ZIP code 68723 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 Carroll provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carroll Tax Rate
1.35%
Average Wayne County Tax Rate
1.74%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carroll, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68723 | 1.20% | 1.33% | 1.35% | 1.71% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Carroll, Nebraska
In Carroll, 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 Wayne 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. 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. For example, Carroll's highest median tax bill is $1,862 in zip code 68723, while the lowest median tax bill is also $1,862 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carroll Assessed Value
$115,520
Average Wayne County Assessed Value
$145,345
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carroll, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68723 | $29,822 | $55,650 | $115,520 | $300,936 | $922,310 |
Source: Ownwell
Property Tax Bills Across Carroll, Nebraska
In Carroll, Wayne County, NE, property tax bills are calculated based on the assessed value of a homeowner’s property. The assessed value is determined by the county assessor and reflects the market value of the home. For instance, with a median home price of $115,520, the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. The tax bill can vary significantly; for example, the 25th percentile tax bill is $930, while the 75th percentile reaches $4,052. The 90th percentile tax bill can soar to $11,499, indicating substantial variation based on property characteristics and exemptions. Homeowners in Carroll face these tax rates to fund local services such as schools, public safety, and infrastructure. With the national median property tax rate at 0.99%, understanding these local nuances helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Carroll Tax Bill
$1,862
Average Wayne County Tax Bill
$2,361
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Carroll, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68723 | $452 | $930 | $1,862 | $4,052 | $11,499 |
Source: Ownwell