Waterbury, Nebraska Property Taxes
The median property tax rate in Waterbury, Nebraska is 1.19%, slightly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Waterbury at $234,445, the typical annual property tax bill amounts to $2,752, surpassing the national median of $2,690. Property taxes in Waterbury are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Waterbury'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 Waterbury or another part of Dakota County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waterbury, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$2,790
$2,589
Ownwell’s Waterbury Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Waterbury using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterbury to provide an estimate of your property tax bill. This insightful tool empowers you to understand potential tax liabilities better. For those interested in more localized trends, additional information is available below. Your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Waterbury, Nebraska
Property taxes in Waterbury, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterbury is 1.19%, significantly higher than the U.S. national median of 0.99%. Local government entities within Waterbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterbury 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 Waterbury's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68785 has both the highest and lowest median property tax rate of 1.19%. Understanding how these cities compare with Waterbury provides valuable insights into the varying tax landscape across Dakota County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waterbury Tax Rate
1.19%
Average Dakota County Tax Rate
1.91%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterbury, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68785 | 1.16% | 1.18% | 1.19% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Waterbury, Nebraska
In Waterbury, 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 Dakota 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 Waterbury, 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 Waterbury, the median home price is $234,445, with tax bills ranging from $1,837 at the 25th percentile to $6,686 at the 90th percentile. The zip code 68785 has the highest median tax bill of $2,752. 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 Waterbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waterbury Assessed Value
$234,445
Average Dakota County Assessed Value
$134,320
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waterbury, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68785 | $133,035 | $163,170 | $234,445 | $325,288 | $559,935 |
Source: Ownwell
Property Tax Bills Across Waterbury, Nebraska
In Waterbury, Dakota County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For example, if the median home price in Waterbury is $234,445, the assessed value would be a fraction of this amount, depending on local assessment rates. The property tax bill is then determined by applying the local tax rate to the assessed value. This rate can vary, but it typically includes taxes for county services, schools, and other local needs. Homeowners in Waterbury can expect to pay different amounts based on their property values, with the 25th percentile tax bill at $1,837 and the 75th percentile at $3,634. For higher-value properties, the tax bill can reach up to $6,686 at the 90th percentile. These taxes significantly impact homeowners, as they contribute to essential community services but also represent a substantial annual expense. Notably, the median tax bill in the highest and lowest zip codes of Dakota County is $2,752, which is above the national median property tax rate of 0.99%.
Average Waterbury Tax Bill
$2,752
Average Dakota County Tax Bill
$2,267
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterbury, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68785 | $1,566 | $1,837 | $2,752 | $3,634 | $6,686 |
Source: Ownwell