Palisade, Nebraska Property Taxes
The median property tax rate in Palisade, NE is 1.77%, which is considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Palisade, the typical annual property tax bill reaches $801, falling below the national median of $2,690. Property taxes in Palisade are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Palisade'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 Palisade 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
Palisade, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$830
Ownwell’s Palisade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palisade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palisade 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 Palisade, Nebraska
Property taxes in Palisade, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palisade is 1.77%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Palisade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palisade 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 Palisade's effective property tax rate to other areas in Nebraska and the national median. For comparison, the 69040 zip code has the highest median property tax rate of 1.77%, while the same zip code also represents the lowest median tax rate of 1.77%. Understanding how these areas compare with Palisade provides valuable insights into the varying tax landscape across Hitchcock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palisade Tax Rate
1.77%
Average Hitchcock County Tax Rate
1.38%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palisade, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69040 | 1.29% | 1.77% | 1.77% | 1.77% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Palisade, Nebraska
In Palisade, 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 Hitchcock 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 Palisade, 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 Palisade helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Palisade is $801.00 in the 69040 zip code, while the lowest median tax bill is also $801.00 in the same zip code.
Average Palisade Assessed Value
$46,920
Average Hitchcock County Assessed Value
$55,428
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palisade, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69040 | $12,185 | $21,886 | $46,920 | $76,366 | $196,008 |
Source: Ownwell
Property Tax Bills Across Palisade, Nebraska
In Palisade, located in Hitchcock County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Palisade is $46,920. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as local tax levies, school district funding needs, and municipal services all contribute to the final tax rate. For homeowners, the tax bill can vary significantly. The 25th percentile tax bill is $385, while the 75th percentile reaches $1,281. At the higher end, the 90th percentile tax bill can be as much as $2,703. Interestingly, the median tax bill in Palisade is $801, which is considerably lower than the national median property tax rate of 0.99%. These property taxes fund essential services like education, public safety, and infrastructure, directly impacting the quality of life for Palisade residents. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Palisade Tax Bill
$801
Average Hitchcock County Tax Bill
$860
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Palisade, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69040 | $199 | $385 | $801 | $1,281 | $2,703 |
Source: Ownwell