Union, Nebraska Property Taxes
The median property tax rate in Union, NE is 2.09%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Union, the typical annual property tax bill reaches $5,915, exceeding the national median of $2,690. Property taxes in Union are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Union'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 Union 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
Union, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$4,991
$4,632
Ownwell’s UNION Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UNION with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UNION 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 Union, Nebraska
Property taxes in Union, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union is 2.09%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Union set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union 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 Union's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68455 has both the highest and lowest median property tax rate of 2.09%, a reflection of the uniformity within the area. Understanding how these figures compare with Union 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 Union Tax Rate
2.09%
Average Cass County Tax Rate
1.72%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68455 | 1.45% | 1.63% | 2.09% | 2.90% | 3.09% |
Source: Ownwell
Property Tax Assessment Values Across Union, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Union, Nebraska. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Cass 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 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, in Union, the median home price is $238,809, with tax bills ranging from $2,715 at the 25th percentile to $9,665 at the 90th percentile. The highest and lowest median tax bills, both at $5,915, are found in zip code 68455. By understanding these valuation concepts, property owners can navigate their tax responsibilities more effectively and identify opportunities for appealing assessments or applying for exemptions to manage their tax burden.
Average Union Assessed Value
$238,809
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 Union, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68455 | $101,707 | $163,722 | $238,809 | $299,791 | $373,985 |
Source: Ownwell
Property Tax Bills Across Union, Nebraska
In Union, located in Cass County, NE, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The median home price in Union is $238,809. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile at $2,715 and the 75th percentile reaching $7,870. The 90th percentile sees tax bills as high as $9,665, indicating a wide range of property values and tax burdens within the area. The tax bill is determined by multiplying the assessed value of the property by the local tax rate. Factors influencing the assessed value include the property's market value, location, and any improvements or modifications made to the home. Compared to the national median property tax rate of 0.99%, Union's tax rates can be more burdensome for homeowners, especially those with higher-value properties. This variability in tax bills significantly affects homeowners' financial planning and housing affordability.
Average Union Tax Bill
$5,915
Average Cass County Tax Bill
$3,260
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Union, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68455 | $1,265 | $2,715 | $5,915 | $7,870 | $9,665 |
Source: Ownwell