Kimball, Nebraska Property Taxes
The median property tax rate in Kimball, NE is 1.37%, which is higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With a median home value of $220,922 in Kimball, the typical annual property tax bill is $3,026, surpassing the national median of $2,690. Property taxes in Kimball are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Kimball'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 Kimball or another part of the city, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Kimball, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$3,027
$2,809
Ownwell’s Kimball Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kimball with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kimball 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 Kimball, Nebraska
Property taxes in Kimball, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kimball is 1.37%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Kimball set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kimball 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 Kimball's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69145 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Kimball provides valuable insights into the varying tax landscape across Banner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kimball Tax Rate
1.37%
Average Banner County Tax Rate
1.37%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kimball, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69145 | 1.36% | 1.37% | 1.37% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Kimball, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kimball, 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 Kimball, 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. Awareness of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,026 in the 69145 zip code, while the lowest is also $3,026 in the same zip code, reflecting a consistent tax environment across the region.
Average Kimball Assessed Value
$220,922
Average Banner County Assessed Value
$144,301
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kimball, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69145 | $57,210 | $103,718 | $220,922 | $376,950 | $465,307 |
Source: Ownwell
Property Tax Bills Across Kimball, Nebraska
Property tax bills in Kimball, located in Banner County, NE, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For instance, if the median home price in Kimball is $220,922, the local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including property size, location, and market conditions. The tax bill can vary significantly; in Kimball, the 25th percentile tax bill is $1,430, while the 75th percentile reaches $5,131, and the 90th percentile can be as high as $6,388. This variability affects homeowners differently depending on their property’s value and the local tax rate. Understanding these factors is crucial for homeowners, as property taxes can represent a significant portion of homeownership costs. Comparing these figures to the national median property tax rate of 0.99% helps contextualize the local tax burden.
Average Kimball Tax Bill
$3,026
Average Banner County Tax Bill
$1,965
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Kimball, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69145 | $789 | $1,430 | $3,026 | $5,131 | $6,388 |
Source: Ownwell