Cozad, Nebraska Property Taxes
The median property tax rate in Cozad, NE is 1.31%, 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 Cozad at $232,056, the typical annual property tax bill reaches $3,048, exceeding the national median of $2,690. Property taxes in Cozad 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 Cozad'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 Cozad 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
Cozad, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$3,040
$2,821
Ownwell’s Cozad Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cozad with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cozad 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 Cozad, Nebraska
Property taxes in Cozad, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cozad is 1.31%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Cozad set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cozad 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 Cozad's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69130 zip code has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Cozad provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cozad Tax Rate
1.31%
Average Custer County Tax Rate
1.38%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cozad, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69130 | 1.08% | 1.09% | 1.31% | 1.53% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Cozad, Nebraska
In Cozad, 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 Custer 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 Cozad, 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. The median home price in Cozad is $232,056. Notably, the highest median tax bill is $3,048 in zip code 69130, while the lowest is also $3,048 in the same zip code. 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 Cozad helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cozad Assessed Value
$232,056
Average Custer County Assessed Value
$99,711
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cozad, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69130 | $146,712 | $173,706 | $232,056 | $400,234 | $468,433 |
Source: Ownwell
Property Tax Bills Across Cozad, Nebraska
In Cozad, NE, located in Custer County, 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 a percentage of the market value, which reflects the property's worth in the current real estate market. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the median home price in Cozad is $232,056. Homeowners in the 25th percentile can expect a tax bill around $2,454, while those in the 75th percentile may see bills as high as $4,543. At the 90th percentile, tax bills can reach up to $6,127. These figures highlight the variability in property taxes, which can significantly impact homeowners' finances, especially when compared to the national median property tax rate of 0.99%.
Average Cozad Tax Bill
$3,048
Average Custer County Tax Bill
$1,435
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Cozad, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69130 | $1,970 | $2,454 | $3,048 | $4,543 | $6,127 |
Source: Ownwell