Mclean, Nebraska Property Taxes
The median property tax rate in McLean, NE is 1.28%, which is higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in McLean, the typical annual property tax bill reaches $2,522, slightly below the national median of $2,690. Property taxes in McLean 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 McLean'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 McLean 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
Mclean, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$2,514
$2,333
Ownwell’s McLean Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McLean with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McLean 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 Mclean, Nebraska
Property taxes in McLean, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McLean is 1.28%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within McLean set these rates annually, and they can vary significantly across different neighborhoods. Each year, McLean 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 McLean's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68747 zip code has the highest median property tax rate of 1.28%, while the 68747 zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with McLean provides valuable insights into the varying tax landscape across Cedar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mclean Tax Rate
1.28%
Average Cedar County Tax Rate
1.45%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mclean, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68747 | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Mclean, Nebraska
In McLean, 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 Cedar 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 McLean, 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 McLean helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both amount to $2,522 in zip code 68747.
Average Mclean Assessed Value
$196,420
Average Cedar County Assessed Value
$117,330
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mclean, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68747 | $196,420 | $196,420 | $196,420 | $196,420 | $196,420 |
Source: Ownwell
Property Tax Bills Across Mclean, Nebraska
In McLean, Cedar County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For instance, with a median home price of $196,420, homeowners in McLean can expect their property tax bill to be influenced by this valuation. The tax rate, applied to the assessed value, ultimately determines the final tax bill. Factors such as property improvements, neighborhood changes, and overall market trends can affect the assessed value, thereby impacting the tax bill. In McLean, the median property tax bill stands at $2,522, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can place a substantial financial burden on homeowners, influencing their overall cost of living and long-term financial planning. Understanding these elements is crucial for homeowners to anticipate and manage their annual property tax responsibilities effectively.
Average Mclean Tax Bill
$2,522
Average Cedar County Tax Bill
$1,639
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Mclean, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68747 | $2,522 | $2,522 | $2,522 | $2,522 | $2,522 |
Source: Ownwell