Emmet, Nebraska Property Taxes
The median property tax rate in Emmet, NE is 1.32%, which is higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $60,362 in Emmet, the typical annual property tax bill amounts to $847, surpassing the national median of $2,690. Property taxes in Emmet are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Emmet'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 Emmet 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
Emmet, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$797
Ownwell’s EMMET Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EMMET with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EMMET 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 Emmet, Nebraska
Property taxes in Emmet, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emmet is 1.43%, higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Emmet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emmet 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 Emmet's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68734 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Emmet provides valuable insights into the varying tax landscape across Holt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emmet Tax Rate
1.32%
Average Holt County Tax Rate
1.55%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emmet, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68734 | 1.12% | 1.18% | 1.32% | 1.51% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Emmet, Nebraska
In EMMET, 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 Holt 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 EMMET, 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 EMMET helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 68734, with a median bill of $847.00, which is the same as the lowest median tax bill in the area.
Average Emmet Assessed Value
$60,362
Average Holt County Assessed Value
$91,350
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emmet, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68734 | $7,665 | $23,899 | $60,362 | $115,216 | $221,211 |
Source: Ownwell
Property Tax Bills Across Emmet, Nebraska
In EMMET, located in Holt County, NE, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the home's market value, which is periodically evaluated by the county assessor. Key factors that influence the tax bill include the property's location, size, and any improvements made. For instance, the median home price in EMMET is $60,362. Homeowners in EMMET can expect varying tax bills depending on their property's value. The tax bill at the 25th percentile is $263, while at the 75th percentile, it rises to $1,380. For those at the 90th percentile, the tax bill can be as high as $2,500. The highest median tax bill in the area is $847, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, law enforcement, and infrastructure, directly impacting the community's quality of life.
Average Emmet Tax Bill
$847
Average Holt County Tax Bill
$1,293
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Emmet, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68734 | $50 | $263 | $847 | $1,380 | $2,500 |
Source: Ownwell