Martinsburg, Nebraska Property Taxes
The median property tax rate in Martinsburg, NE is 1.96%, significantly higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value in Martinsburg, the typical annual property tax bill amounts to $93, which is notably below the national median of $2,690. Property taxes in Martinsburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Martinsburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Martinsburg or another part of Dixon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Martinsburg, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$93
-$976
Ownwell’s Martinsburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Martinsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Martinsburg 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 Martinsburg, Nebraska
Property taxes in Martinsburg, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Martinsburg is 1.96%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Martinsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martinsburg 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 Martinsburg's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68770 has the highest median property tax rate of 1.96%, while the same zip code also has the lowest median tax rate of 1.96%. Understanding how these cities compare with Martinsburg provides valuable insights into the varying tax landscape across Dixon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Martinsburg Tax Rate
1.96%
Average Dixon County Tax Rate
1.55%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martinsburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68770 | 1.96% | 1.96% | 1.96% | 1.96% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Martinsburg, Nebraska
In Martinsburg, 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 Dixon 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 Martinsburg, 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 Martinsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Martinsburg, the median home price is $4,750, with property tax bills ranging from $93 for the 25th, 75th, and 90th percentiles.
Average Martinsburg Assessed Value
$4,750
Average Dixon County Assessed Value
$96,112
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Martinsburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68770 | $4,750 | $4,750 | $4,750 | $4,750 | $4,750 |
Source: Ownwell
Property Tax Bills Across Martinsburg, Nebraska
In Martinsburg, Dixon County, NE, property tax bills are calculated based on the assessed value of a property. This assessed value is determined by the local assessor's office, which evaluates the market value of homes in the area. For homeowners in Martinsburg, the median home price is $4,750. The property tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. Homeowners in Martinsburg typically face property tax bills around $93, which is consistent across the 25th, 75th, and 90th percentiles. This uniformity suggests a stable property tax environment within the city. Compared to the national median property tax rate of 0.99%, the property tax burden in Martinsburg is relatively low. This lower tax rate can make homeownership more affordable, allowing residents to allocate more of their budget towards other expenses or investments.
Average Martinsburg Tax Bill
$93
Average Dixon County Tax Bill
$1,568
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Martinsburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68770 | $93 | $93 | $93 | $93 | $93 |
Source: Ownwell