Geneva, Nebraska Property Taxes
The median property tax rate in Geneva, Nebraska is 1.63%, significantly higher than the national median of 0.99% but slightly below the Nebraska state median of 1.75%. With a median home value of $108,295, the typical annual property tax bill in Geneva amounts to $1,618, which is lower than the national median of $2,690. Property taxes in Geneva 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 Geneva'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 Geneva or another part of Fillmore County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Geneva, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$1,765
Ownwell’s Geneva Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Geneva with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Geneva 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 Geneva, Nebraska
Property taxes in Geneva, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Geneva is 1.63%, significantly higher than the U.S. national median of 0.99%. Local government entities within Geneva set these rates annually, and they can vary significantly across different neighborhoods. Each year, Geneva 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 Geneva's effective property tax rate to other areas in Fillmore County and the national median. For comparison, the 68361 zip code has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these cities compare with Geneva provides valuable insights into the varying tax landscape across Fillmore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Geneva Tax Rate
1.63%
Average Fillmore County Tax Rate
1.63%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Geneva, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68361 | 0.98% | 1.63% | 1.63% | 1.63% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Geneva, Nebraska
In Geneva, 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 Fillmore 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 Geneva, 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 Geneva helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Geneva are both $1,618, found in the zip code 68361.
Average Geneva Assessed Value
$108,295
Average Fillmore County Assessed Value
$93,580
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Geneva, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68361 | $32,602 | $64,124 | $108,295 | $176,631 | $296,118 |
Source: Ownwell
Property Tax Bills Across Geneva, Nebraska
In Geneva, located in Fillmore County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to calculate the property tax bill. For instance, with a median home price of $108,295, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $943, while those in the 75th percentile might see bills as high as $2,755. At the 90th percentile, tax bills can reach up to $4,286. These figures indicate how property taxes can impact homeowners differently based on the assessed value of their property and the applicable tax rates. Comparatively, the national median property tax rate stands at 0.99%, highlighting that property taxes in Geneva can vary widely. This variance in tax bills can affect homeowners' financial planning and overall cost of living, making it essential to understand how local assessments and tax rates impact individual tax obligations.
Average Geneva Tax Bill
$1,618
Average Fillmore County Tax Bill
$1,380
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Geneva, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68361 | $466 | $943 | $1,618 | $2,755 | $4,286 |
Source: Ownwell