Louisville, Nebraska Property Taxes
The median property tax rate in Louisville, NE is 1.51%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Louisville at $220,869, the typical annual property tax bill reaches $3,814, significantly exceeding the national median of $2,690. Property taxes in Louisville 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 Louisville'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 Louisville 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
Louisville, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$3,335
Ownwell’s Louisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Louisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Louisville 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 Louisville, Nebraska
Property taxes in Louisville, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Louisville is 1.51%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Louisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Louisville 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 Louisville's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68037 zip code has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Louisville provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Louisville Tax Rate
1.51%
Average Cass County Tax Rate
1.72%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Louisville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68037 | 1.50% | 1.51% | 1.51% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Louisville, Nebraska
In Louisville, 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 Cass 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 Louisville, 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 Louisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 68037 at $3,814, while the lowest is also 68037 at $3,814.
Average Louisville Assessed Value
$220,869
Average Cass County Assessed Value
$194,901
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Louisville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68037 | $85,983 | $130,846 | $220,869 | $358,019 | $506,462 |
Source: Ownwell
Property Tax Bills Across Louisville, Nebraska
In Louisville, located in Cass County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Louisville's median home price is $220,869, and homeowners can expect varying tax bills depending on their property's specific characteristics and assessed value. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For instance, in Louisville, the 25th percentile tax bill is $2,312, while the 75th percentile tax bill rises to $5,742, and the 90th percentile tax bill reaches $7,661. These figures indicate the range of property tax burdens that homeowners might face. The highest median tax bill in the region is $3,814, found in the 68037 zip code. Compared to the national median property tax rate of 0.99%, Louisville’s property taxes can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors can help residents better anticipate their annual property tax obligations.
Average Louisville Tax Bill
$3,814
Average Cass County Tax Bill
$3,260
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Louisville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68037 | $1,086 | $2,312 | $3,814 | $5,742 | $7,661 |
Source: Ownwell