Tekamah, Nebraska Property Taxes
The median property tax rate in Tekamah, NE is 2.13%, significantly higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in Tekamah at $93,516, the typical annual property tax bill reaches $1,820, which is below the national median of $2,690. Property taxes in Tekamah are calculated based on the tax assessed value, which generally falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Tekamah'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 Tekamah or another part of Burt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tekamah, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.13%
Estimate Property Tax Bill
$1,992
$1,848
Ownwell’s Tekamah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tekamah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tekamah 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 Tekamah, Nebraska
Property taxes in Tekamah, Nebraska, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tekamah is 2.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Tekamah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tekamah 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 Tekamah's effective property tax rate to other counties in Nebraska and the national median. For comparison, the highest median property tax rate in Burt County is 2.13%, while the lowest median tax rate is also 2.13%. Understanding how these cities compare with Tekamah 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 Tekamah Tax Rate
2.13%
Average Burt County Tax Rate
2.13%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tekamah, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68061 | 1.24% | 1.26% | 2.13% | 2.13% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Tekamah, Nebraska
In Tekamah, 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. In Tekamah, 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 Tekamah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68061 has the highest median tax bill at $1,820, while the lowest median tax bill is also found in the same zip code at $1,820.
Average Tekamah Assessed Value
$93,516
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 Tekamah, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68061 | $27,420 | $53,937 | $93,516 | $170,778 | $326,652 |
Source: Ownwell
Property Tax Bills Across Tekamah, Nebraska
In Tekamah, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Tekamah is $93,516. Property taxes are then applied to this assessed value at the local tax rate. The tax bill can vary significantly, with the 25th percentile paying around $932 annually, while those in the 75th percentile face bills of approximately $3,113. For homeowners at the 90th percentile, the tax bill can be as high as $5,503. Several factors influence the final tax bill, including property improvements, neighborhood developments, and changes in local government budgets. These taxes fund essential services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Tekamah's rates can lead to substantial variations in annual costs for homeowners. Understanding these factors is crucial for homeowners to manage their finances and anticipate future tax obligations.
Average Tekamah Tax Bill
$1,820
Average Burt County Tax Bill
$1,641
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Tekamah, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68061 | $448 | $932 | $1,820 | $3,113 | $5,503 |
Source: Ownwell