Nemaha, Iowa Property Taxes
The median property tax rate in Nemaha, IA is 1.04%, which is higher than the national median of 0.99% but lower than the Iowa state median of 1.54%. With a median home value of $132,430 in Nemaha, the typical annual property tax bill is $1,288, which is below the national median of $2,690. Property taxes in Nemaha are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. By understanding Nemaha's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Nemaha or another part of the city, gaining insight into the local property tax structure can be highly beneficial.
Last Updated June 14, 2024
Nemaha, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,377
Ownwell’s Nemaha Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nemaha with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nemaha 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 Nemaha, Iowa
Property taxes in Nemaha, Iowa, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nemaha is 1.04%, higher than both the Iowa state median and the U.S. national median of 0.99%. Local government entities within Nemaha set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nemaha 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 Nemaha's effective property tax rate to other counties in Iowa and the national median. For comparison, the 50567 zip code has the highest median property tax rate of 1.04%, while the 50567 zip code also has the lowest median tax rate of 1.04%. Understanding how these areas compare with Nemaha provides valuable insights into the varying tax landscape across Sac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nemaha Tax Rate
1.04%
Average Sac County Tax Rate
1.14%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nemaha, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50567 | 0.86% | 0.90% | 1.04% | 1.32% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Nemaha, Iowa
In Nemaha, Iowa, 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 Sac 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 Nemaha, 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 Nemaha helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in this area is $132,430, with the highest median tax bill found in the 50567 zip code at $1,288.
Average Nemaha Assessed Value
$132,430
Average Sac County Assessed Value
$117,660
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nemaha, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50567 | $7,845 | $41,820 | $132,430 | $256,352 | $353,224 |
Source: Ownwell
Property Tax Bills Across Nemaha, Iowa
In Nemaha, located in Sac County, IA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Nemaha is $132,430. The property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. For homeowners in Nemaha, the tax burden can vary significantly. The 25th percentile tax bill is $462, which means that a quarter of homeowners pay less than this amount. On the higher end, the 75th percentile tax bill is $2,448, while the 90th percentile reaches up to $3,494. These figures highlight the range of property tax bills within the community, influenced by property values and other factors. Compared to the national median property tax rate of 0.99%, the property tax rate in Nemaha can lead to varying financial obligations for homeowners, impacting their overall cost of living and financial planning.
Average Nemaha Tax Bill
$1,288
Average Sac County Tax Bill
$1,376
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Nemaha, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50567 | $82 | $462 | $1,288 | $2,448 | $3,494 |
Source: Ownwell