Wahoo, Nebraska Property Taxes
The median property tax rate in Wahoo, NE is 1.40%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Wahoo at $465,830, the typical annual property tax bill reaches $6,504, exceeding the national median of $2,690. Property taxes in Wahoo 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 Wahoo'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 Wahoo 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
Wahoo, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$6,522
$6,052
Ownwell’s Wahoo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wahoo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wahoo 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 Wahoo, Nebraska
Property taxes in Wahoo, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wahoo is 1.40%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Wahoo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wahoo 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 Wahoo's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68066 zip code has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Wahoo provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wahoo Tax Rate
1.40%
Average Butler County Tax Rate
1.49%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wahoo, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68066 | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Wahoo, Nebraska
In Wahoo, 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 Butler County 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 Wahoo, 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 Wahoo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68066 has both the highest and lowest median tax bills, each at $6504.
Average Wahoo Assessed Value
$465,830
Average Butler County Assessed Value
$140,672
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wahoo, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68066 | $465,830 | $465,830 | $465,830 | $465,830 | $465,830 |
Source: Ownwell
Property Tax Bills Across Wahoo, Nebraska
In Wahoo, Butler County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property, reflecting its worth in the real estate market. Various factors influence this assessment, including the property's location, size, condition, and any improvements made. Once the assessed value is established, the property tax rate, or mill levy, is applied to calculate the tax bill. In Wahoo, the median home price stands at $465,830. Homeowners in this area can expect a median property tax bill of approximately $6,504, which is significantly higher than the national median property tax rate of 0.99%. This property tax rate impacts homeowners by contributing to local services such as public schools, infrastructure, and emergency services. Higher property taxes can affect affordability and the overall cost of homeownership, making it essential for homeowners to understand their tax obligations and potential exemptions.
Average Wahoo Tax Bill
$6,504
Average Butler County Tax Bill
$1,858
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Wahoo, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68066 | $6,504 | $6,504 | $6,504 | $6,504 | $6,504 |
Source: Ownwell