Wilcox, Nebraska Property Taxes
The median property tax rate in Wilcox, NE is 1.09%, slightly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $214,372 in Wilcox, the typical annual property tax bill amounts to $2,542, which is below the national median of $2,690. Property taxes in Wilcox are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Wilcox'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 Wilcox or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wilcox, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$2,337
Ownwell’s Wilcox Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilcox with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilcox 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 Wilcox, Nebraska
Property taxes in Wilcox, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilcox is 1.19%, higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Wilcox set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilcox 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 Wilcox's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68982 zip code has the highest median property tax rate of 1.19%, while the 68982 zip code has the lowest median tax rate of 1.19%. Understanding how these cities compare with Wilcox provides valuable insights into the varying tax landscape across Harlan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wilcox Tax Rate
1.09%
Average Harlan County Tax Rate
1.53%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilcox, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68982 | 1.07% | 1.08% | 1.09% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Wilcox, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wilcox, Nebraska. 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 Harlan 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 Wilcox, 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. The median home price in Wilcox is $214,372, and tax bills can vary significantly. For example, the 25th percentile tax bill is $1,370, while the 75th percentile tax bill is $8,867. Notably, the highest median tax bill in the area is $2,542 in the 68982 zip code, which also has the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage their tax burden.
Average Wilcox Assessed Value
$214,372
Average Harlan County Assessed Value
$72,830
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wilcox, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68982 | $80,688 | $127,897 | $214,372 | $811,309 | $1,216,534 |
Source: Ownwell
Property Tax Bills Across Wilcox, Nebraska
In Wilcox, located in Harlan County, NE, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. Homeowners in Wilcox can expect property tax bills to vary significantly, depending on their property's assessed value and the specific tax rate applied by local taxing authorities. For instance, the median home price in Wilcox is $214,372. Property tax bills in the area range widely, with the 25th percentile at $1,370 and the 75th percentile reaching up to $8,867. At the higher end, the 90th percentile of tax bills can soar to $13,294. These figures illustrate the variability in tax burdens that homeowners might face. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how local rates and assessments impact their financial responsibilities. Understanding these factors can help homeowners in Wilcox better anticipate their annual property tax obligations.
Average Wilcox Tax Bill
$2,542
Average Harlan County Tax Bill
$1,149
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilcox, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68982 | $869 | $1,370 | $2,542 | $8,867 | $13,294 |
Source: Ownwell