Primrose, Nebraska Property Taxes
The median property tax rate in Primrose, NE is 0.80%, which is significantly lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $108,925 in Primrose, the typical annual property tax bill is approximately $1,128, well below the national median of $2,690. Property taxes in Primrose are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Primrose's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Primrose or another part of Boone County, grasping the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Primrose, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$871
$809
Ownwell’s Primrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Primrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Primrose 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 Primrose, Nebraska
Property taxes in Primrose, Nebraska, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Primrose is 0.80%, which is lower than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Primrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Primrose 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 Primrose's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68655 has both the highest and lowest median property tax rate of 0.80%. Understanding how these areas compare with Primrose provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Primrose Tax Rate
0.80%
Average Boone County Tax Rate
1.08%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Primrose, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68655 | 0.75% | 0.75% | 0.80% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Primrose, Nebraska
In Primrose, 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 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 Primrose, 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 Primrose 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 $1,128 in zip code 68655, while the lowest median tax bill is also $1,128 in the same zip code.
Average Primrose Assessed Value
$108,925
Average Boone County Assessed Value
$170,105
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Primrose, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68655 | $9,196 | $31,401 | $108,925 | $642,260 | $1,040,412 |
Source: Ownwell
Property Tax Bills Across Primrose, Nebraska
In Primrose, located in Boone County, NE, property tax bills 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 property's market value, and this percentage can vary based on local regulations. Once the assessed value is established, the tax rate, set by various taxing authorities such as school districts, municipalities, and county governments, is applied to calculate the final tax bill. For homeowners in Primrose, the median home price is $108,925. Property tax bills can vary significantly, with the 25th percentile at $336 and the 75th percentile reaching $5,351. The 90th percentile sees tax bills as high as $8,178. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. These property taxes fund essential public services like education, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Primrose Tax Bill
$1,128
Average Boone County Tax Bill
$1,754
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Primrose, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68655 | $110 | $336 | $1,128 | $5,351 | $8,178 |
Source: Ownwell