Schuyler, Nebraska Property Taxes
The median property tax rate in Schuyler, NE is 1.78%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Schuyler at $111,032, the typical annual property tax bill reaches $1,902, which is below the national median of $2,690. Property taxes in Schuyler 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 Schuyler'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 Schuyler 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
Schuyler, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$1,976
$1,834
Ownwell’s Schuyler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Schuyler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Schuyler 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 Schuyler, Nebraska
Property taxes in Schuyler, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Schuyler is 1.78%, significantly higher than the U.S. national median of 0.99%. Local government entities within Schuyler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Schuyler 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 Schuyler's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68661 zip code has the highest median property tax rate of 1.78%, while the 68661 zip code also has the lowest median tax rate of 1.78%. Understanding how these cities compare with Schuyler provides valuable insights into the varying tax landscape across Colfax County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Schuyler Tax Rate
1.78%
Average Colfax County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Schuyler, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68661 | 1.45% | 1.47% | 1.78% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Schuyler, Nebraska
In Schuyler, 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 Colfax 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 Schuyler, 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 Schuyler helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Schuyler, the zip code 68661 has both the highest and lowest median tax bill, which is $1,902.
Average Schuyler Assessed Value
$111,032
Average Colfax County Assessed Value
$110,540
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Schuyler, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68661 | $25,658 | $63,406 | $111,032 | $166,431 | $290,920 |
Source: Ownwell
Property Tax Bills Across Schuyler, Nebraska
In Schuyler, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio. Various factors influence this value, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. Homeowners in Schuyler can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $1,050, while at the 75th percentile, it can reach up to $2,800. Those at the 90th percentile might see bills as high as $4,570. Compared to the national median property tax rate of 0.99%, Schuyler's property taxes can be substantial. This variation in tax bills can significantly impact homeowners, influencing decisions related to property investment and financial planning. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their budgets accordingly.
Average Schuyler Tax Bill
$1,902
Average Colfax County Tax Bill
$1,841
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Schuyler, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68661 | $378 | $1,050 | $1,902 | $2,800 | $4,570 |
Source: Ownwell