Elba, Nebraska Property Taxes
The median property tax rate in Elba, NE is 1.17%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Elba at $204,608, the typical annual property tax bill amounts to $2,387, falling below the national median of $2,690. Property taxes in Elba are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Elba'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 Elba or another part of Greeley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elba, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$2,394
Ownwell’s Elba Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elba with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elba 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 Elba, Nebraska
Property taxes in Elba, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elba is 1.17%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Elba set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elba 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 Elba's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68835 zip code has the highest median property tax rate of 1.17%, while the 68835 zip code has the lowest median tax rate of 1.17%. Understanding how these cities compare with Elba provides valuable insights into the varying tax landscape across Greeley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elba Tax Rate
1.17%
Average Greeley County Tax Rate
1.34%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elba, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68835 | 1.15% | 1.16% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Elba, Nebraska
In Elba, 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 Greeley 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 Elba, 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 Elba helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Elba are both $2,387, found in the 68835 zip code.
Average Elba Assessed Value
$204,608
Average Greeley County Assessed Value
$86,605
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elba, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68835 | $136,692 | $164,542 | $204,608 | $334,680 | $524,544 |
Source: Ownwell
Property Tax Bills Across Elba, Nebraska
In Elba, located in Greeley County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Elba, the median home price is $204,608. Property tax bills vary significantly, with the 25th percentile bill at $1,914 and the 75th percentile bill at $3,887. At the 90th percentile, homeowners can expect to pay around $6,053 annually. These figures show a range of property tax burdens within the community, reflecting differences in property values and assessments. Compared to the national median property tax rate of 0.99%, the figures in Elba provide a snapshot of how property taxes can impact homeowners financially, depending on their property's assessed value and the applicable tax rate.
Average Elba Tax Bill
$2,387
Average Greeley County Tax Bill
$1,502
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Elba, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68835 | $1,594 | $1,914 | $2,387 | $3,887 | $6,053 |
Source: Ownwell