Eddyville, Nebraska Property Taxes
The median property tax rate in Eddyville, NE is 1.29%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Eddyville at $177,116, the typical annual property tax bill amounts to $2,305, falling below the national median of $2,690. Property taxes in Eddyville are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Eddyville'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 Eddyville or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eddyville, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$2,285
$2,120
Ownwell’s Eddyville Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential owners looking to estimate their annual property taxes in Eddyville. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Eddyville to provide an accurate estimate of your property tax bill. This tool offers insights into potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value, determined by the county, plays a crucial role in these calculations, taking into account any applicable exemptions.
Property Tax Rates Across Eddyville, Nebraska
Property taxes in Eddyville, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eddyville is 1.29%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Eddyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eddyville 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 Eddyville's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68834 has both the highest and the lowest median property tax rate of 1.29%. Understanding how these rates compare with Eddyville 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 Eddyville Tax Rate
1.29%
Average Custer County Tax Rate
1.38%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eddyville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68834 | 0.70% | 1.08% | 1.29% | 1.34% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Eddyville, Nebraska
In Eddyville, 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 local 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 Eddyville, 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 Eddyville, the median home price is $177,116. Tax bills range significantly, with the 25th percentile at $1,524 and the 90th percentile reaching up to $7,425. 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 Eddyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eddyville Assessed Value
$177,116
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 Eddyville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68834 | $102,277 | $136,908 | $177,116 | $313,782 | $562,841 |
Source: Ownwell
Property Tax Bills Across Eddyville, Nebraska
In Eddyville, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Homeowners in Eddyville can expect their property tax bills to vary significantly, influenced by factors such as property size, location, and any improvements made to the property. For instance, the median home price in Eddyville is $177,116. Property tax bills can range widely, with the 25th percentile at $1,524, the 75th percentile at $3,859, and the 90th percentile reaching up to $7,425. These variations illustrate how individual property characteristics and local tax rates impact the final tax bill. Compared to the national median property tax rate of 0.99%, Eddyville's rates can be seen as competitive, offering a balanced approach to property taxation. Homeowners should remain aware of these factors to better manage their property tax obligations and plan their finances accordingly.
Average Eddyville Tax Bill
$2,305
Average Custer County Tax Bill
$1,435
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Eddyville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68834 | $1,016 | $1,524 | $2,305 | $3,859 | $7,425 |
Source: Ownwell