Riverdale, Nebraska Property Taxes
The median property tax rate in Riverdale, NE is 1.33%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Riverdale, the typical annual property tax bill amounts to $2,855, surpassing the national median of $2,690. Property taxes in Riverdale are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Riverdale'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 Riverdale 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
Riverdale, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$2,464
$2,287
Ownwell’s Riverdale Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Riverdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverdale to provide an accurate estimate of your property tax bill. This valuable tool helps you comprehend potential tax liabilities. Scroll down for more localized information if you're interested in neighborhood-level trends. Your property’s assessed value is the value assigned by Buffalo County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Riverdale, Nebraska
Property taxes in Riverdale, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riverdale is 1.33%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Riverdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverdale 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 Riverdale's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68870 zip code has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these areas compare with Riverdale provides valuable insights into the varying tax landscape across Buffalo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Riverdale Tax Rate
1.33%
Average Buffalo County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riverdale, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68870 | 1.26% | 1.27% | 1.33% | 1.64% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Riverdale, Nebraska
In Riverdale, 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 Buffalo 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 Riverdale, 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. For example, the median home price is $185,275, and property tax bills range significantly, with the 25th percentile at $1,852 and the 75th percentile reaching $4,444. The highest median tax bill is $2,855 in the 68870 zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Riverdale Assessed Value
$185,275
Average Buffalo County Assessed Value
$185,962
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Riverdale, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68870 | $84,180 | $131,158 | $185,275 | $323,308 | $434,230 |
Source: Ownwell
Property Tax Bills Across Riverdale, Nebraska
Property tax bills in Riverdale, Buffalo County, NE, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Riverdale has a median price of $185,275. The local tax rate is applied to this assessed value to calculate the annual tax bill. Homeowners in Riverdale can expect tax bills to vary significantly, with the 25th percentile at $1,852 and the 75th percentile at $4,444. Those in the 90th percentile may see bills as high as $6,273. Factors such as property size, location, and improvements can influence the assessed value, thus impacting the tax bill. Compared to the national median property tax rate of 0.99%, Riverdale's tax rates can lead to substantial annual costs for homeowners. This financial commitment can affect household budgets, making it crucial for homeowners to understand their property assessments and potential exemptions that may reduce their tax burden.
Average Riverdale Tax Bill
$2,855
Average Buffalo County Tax Bill
$3,186
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Riverdale, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68870 | $950 | $1,852 | $2,855 | $4,444 | $6,273 |
Source: Ownwell