Decatur, Nebraska Property Taxes
The median property tax rate in Decatur, NE is 2.07%, significantly higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in Decatur at $44,539, the typical annual property tax bill reaches $858, surpassing the national median of $2,690. Property taxes in Decatur are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Decatur'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 Decatur 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
Decatur, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.07%
Estimate Property Tax Bill
$922
$856
Ownwell’s Decatur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Decatur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Decatur 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 Decatur, Nebraska
Property taxes in Decatur, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Decatur is 2.07%, significantly higher than the U.S. national median of 0.99%. Local government entities within Decatur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Decatur 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 Decatur's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68020 zip code has the highest median property tax rate of 2.07%, while the 68020 zip code also has the lowest median tax rate of 2.07%. Understanding how these cities compare with Decatur provides valuable insights into the varying tax landscape across Burt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Decatur Tax Rate
2.07%
Average Burt County Tax Rate
2.13%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Decatur, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68020 | 1.26% | 1.62% | 2.07% | 2.07% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Decatur, Nebraska
In Decatur, 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 Burt 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. Assessment notices in Decatur 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 instance, the median home price in Decatur is $44,539, with tax bills ranging from $367 at the 25th percentile to $5,230 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Decatur Assessed Value
$44,539
Average Burt County Assessed Value
$83,382
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Decatur, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68020 | $10,448 | $21,400 | $44,540 | $113,873 | $317,184 |
Source: Ownwell
Property Tax Bills Across Decatur, Nebraska
In Decatur, located in Burt County, NE, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is calculated based on various factors such as the property's size, location, and condition. Homeowners in Decatur can expect a wide range of tax bills. For instance, the 25th percentile tax bill is $367, while the 75th percentile tax bill is $1,961, and the 90th percentile tax bill reaches $5,230. The median home price in Decatur is $44,539, and with a comparison to the national median property tax rate of 0.99%, local homeowners may find their rates either favorable or challenging depending on their specific circumstances. The highest median tax bill in the area is $859, which is consistent across zip code 68020. These property taxes significantly impact homeowners by influencing their annual housing costs and overall financial planning.
Average Decatur Tax Bill
$858
Average Burt County Tax Bill
$1,641
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Decatur, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68020 | $185 | $374 | $859 | $1,962 | $5,233 |
Source: Ownwell