Elgin, Nebraska Property Taxes
The median property tax rate in Elgin, Nebraska is 1.11%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Elgin, the typical annual property tax bill amounts to $1,484, which is below the national median of $2,690. Property taxes in Elgin are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Elgin'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 Elgin 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
Elgin, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,575
Ownwell’s Elgin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elgin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elgin 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 Elgin, Nebraska
Property taxes in Elgin, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elgin is 1.11%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elgin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elgin 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 Elgin's effective property tax rate to other areas in Antelope County and the national median. For comparison, the zip code 68636 has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these areas compare with Elgin provides valuable insights into the varying tax landscape across Antelope County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elgin Tax Rate
1.11%
Average Antelope County Tax Rate
1.29%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elgin, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68636 | 0.76% | 0.77% | 1.11% | 1.11% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Elgin, Nebraska
In Elgin, 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 Antelope 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 Elgin, 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 Elgin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Elgin are both $1,484, found in the 68636 zip code.
Average Elgin Assessed Value
$141,875
Average Antelope County Assessed Value
$117,295
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elgin, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68636 | $33,880 | $75,910 | $141,875 | $372,670 | $905,254 |
Source: Ownwell
Property Tax Bills Across Elgin, Nebraska
In Elgin, located in Antelope 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 reflects a percentage of the property's market value. For homeowners, this means that changes in the real estate market can directly impact their tax bills. Several factors influence the final tax bill, including property size, location, and any improvements made to the property. In Elgin, the median home price is $141,875. The tax bill at the 25th percentile is $770, while it rises significantly to $3,325 at the 75th percentile and $7,217 at the 90th percentile. This wide range illustrates how property characteristics and assessed values can vary greatly, affecting the amount homeowners owe. Compared to the national median property tax rate of 0.99%, Elgin's tax rates can result in varying financial obligations for residents. Understanding these factors helps homeowners anticipate and manage their property tax responsibilities effectively.
Average Elgin Tax Bill
$1,484
Average Antelope County Tax Bill
$1,685
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Elgin, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68636 | $329 | $770 | $1,484 | $3,325 | $7,217 |
Source: Ownwell