Mc Cool Junction, Nebraska Property Taxes
The median property tax rate in McCool Junction, NE is 1.46%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $130,427 in McCool Junction, the typical annual property tax bill amounts to $1,813, which is below the national median of $2,690. Property taxes in McCool Junction are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding McCool Junction'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 McCool Junction or another part of York County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Cool Junction, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$1,904
Ownwell’s Mc Cool Junction Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mc Cool Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mc Cool Junction to provide an estimated 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 Mc Cool Junction, Nebraska
Property taxes in Mc Cool Junction, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Cool Junction is 1.46%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mc Cool Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Cool Junction 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 Mc Cool Junction's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68401 has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Mc Cool Junction provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Cool Junction Tax Rate
1.46%
Average York County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Cool Junction, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68401 | 1.17% | 1.17% | 1.46% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Mc Cool Junction, Nebraska
In McCool Junction, Nebraska, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 York 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 McCool Junction, 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 McCool Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,813, found in the 68401 zip code.
Property Tax Assessment Values Across Mc Cool Junction, Nebraska
Source: Ownwell
$37,116
$159,953
$282,789
Average Mc Cool Junction Assessed Value
$130,427
Average York County Assessed Value
$120,076
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Cool Junction, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68401 | $38,184 | $72,505 | $130,427 | $222,112 | $344,222 |
Source: Ownwell
Property Tax Bills Across Mc Cool Junction, Nebraska
In McCool Junction, located in York County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is intended to reflect the market value of the property. Homeowners in McCool Junction typically see a range of property tax bills. For instance, the 25th percentile tax bill is around $858, while those in the 75th percentile pay approximately $2,707. At the higher end, the 90th percentile tax bill can reach up to $4,253. Factors influencing these tax bills include property size, location, and improvements made to the home. The median home price in McCool Junction is $130,427, and the property tax rate is competitive when compared to the national median property tax rate of 0.99%. These taxes fund essential public services such as schools, emergency services, and infrastructure, impacting the quality of life for homeowners. Understanding how these elements interplay can help residents plan for their annual property tax obligations.
Average Mc Cool Junction Tax Bill
$1,813
Average York County Tax Bill
$1,911
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Cool Junction, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68401 | $500 | $858 | $1,813 | $2,707 | $4,253 |
Source: Ownwell