Elm Creek, Nebraska Property Taxes
The median property tax rate in Elm Creek, NE is 1.37%, notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Elm Creek, the typical annual property tax bill reaches $4,490, significantly exceeding the national median of $2,690. Property taxes in Elm Creek are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Elm Creek'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 Elm Creek or another part of Dawson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elm Creek, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$4,378
$4,062
Ownwell’s Elm Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elm Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elm Creek 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 Elm Creek, Nebraska
Property taxes in Elm Creek, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elm Creek is 1.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elm Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elm Creek 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 Elm Creek's effective property tax rate to other areas in Nebraska and the national median. For comparison, the 68836 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these areas compare with Elm Creek provides valuable insights into the varying tax landscape across Dawson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elm Creek Tax Rate
1.37%
Average Dawson County Tax Rate
1.81%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elm Creek, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68836 | 1.35% | 1.35% | 1.37% | 1.53% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Elm Creek, Nebraska
In Elm Creek, 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 Dawson 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 Elm Creek, 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 Elm Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 68836 has the highest and lowest median tax bill at $4,490.
Average Elm Creek Assessed Value
$319,544
Average Dawson County Assessed Value
$101,091
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elm Creek, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68836 | $112,972 | $183,930 | $319,544 | $539,884 | $850,620 |
Source: Ownwell
Property Tax Bills Across Elm Creek, Nebraska
In Elm Creek, Dawson 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. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Elm Creek, the property tax bill varies significantly. The 25th percentile tax bill is $2,506, while the 75th percentile reaches $7,288. At the 90th percentile, homeowners can expect a tax bill as high as $12,611. This variation shows how property values and individual assessments can impact the amount owed. The median home price in Elm Creek is $319,544, and the median property tax rate in Dawson County is notably higher than the national median of 0.99%. This higher tax rate can significantly affect homeowners, making it essential for them to understand how their property is assessed and what factors influence their tax bill.
Average Elm Creek Tax Bill
$4,490
Average Dawson County Tax Bill
$1,900
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Elm Creek, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68836 | $1,676 | $2,506 | $4,490 | $7,288 | $12,611 |
Source: Ownwell