Odell, Nebraska Property Taxes
The median property tax rate in Odell, Nebraska is 1.23%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $95,302 in Odell, the typical annual property tax bill amounts to $1,309, which is below the national median of $2,690. Property taxes in Odell are determined based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a comprehensive understanding of Odell's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Odell or another part of Gage County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Odell, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,172
Ownwell’s Odell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Odell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Odell 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 Odell, Nebraska
Property taxes in Odell, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Odell is 1.23%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Odell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Odell 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 Odell's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68415 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these areas compare with Odell provides valuable insights into the varying tax landscape across Gage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odell Tax Rate
1.23%
Average Gage County Tax Rate
1.83%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68415 | 0.98% | 1.21% | 1.23% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Odell, Nebraska
In Odell, 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 Gage 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 Odell, 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 Odell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68415 has both the highest and lowest median tax bill, amounting to $1,309.
Average Odell Assessed Value
$95,302
Average Gage County Assessed Value
$108,335
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68415 | $24,258 | $49,750 | $95,302 | $294,024 | $560,698 |
Source: Ownwell
Property Tax Bills Across Odell, Nebraska
In Odell, located in Gage County, NE, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local government assessors who evaluate the market value of your property. This value is then multiplied by the local tax rate to determine your annual tax bill. For example, with a median home price of $95,302, homeowners might expect a tax bill that varies significantly depending on the assessed value and specific circumstances. Factors such as property location, improvements, and market conditions play a crucial role in determining the assessed value. In Odell, the tax bills can range widely, with the 25th percentile at $654 and the 75th percentile reaching up to $3,551. At the higher end, the 90th percentile tax bill can be as much as $6,177. These taxes fund essential services like schools, infrastructure, and emergency services, directly impacting homeowners and the community. Comparing to the national median property tax rate of 0.99%, Odell's rates reflect local economic conditions and funding needs.
Average Odell Tax Bill
$1,309
Average Gage County Tax Bill
$1,782
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Odell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68415 | $236 | $654 | $1,309 | $3,551 | $6,177 |
Source: Ownwell