Oneill, Nebraska Property Taxes
The median property tax rate in O'Neill, Nebraska is 1.61%, significantly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in O'Neill at $106,749, the typical annual property tax bill amounts to $1,578, which is below the national median of $2,690. Property taxes in O'Neill are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding O'Neill'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 O'Neill 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
Oneill, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$1,719
Ownwell’s O'Neill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in O'Neill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in O'Neill 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 Oneill, Nebraska
Property taxes in O'Neill, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in O'Neill is 1.61%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within O'Neill set these rates annually, and they can vary significantly across different neighborhoods. Each year, O'Neill 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 O'Neill's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68763 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with O'Neill 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 Oneill Tax Rate
1.61%
Average Holt County Tax Rate
1.55%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oneill, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68763 | 1.17% | 1.52% | 1.61% | 1.66% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Oneill, Nebraska
In O'Neill, 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 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 O'Neill, 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 O'Neill is $106,749, with tax bills ranging from $800 at the 25th percentile to $3,515 at the 90th percentile. The zip code 68763 has both the highest and lowest median tax bill, pegged at $1,578. 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 O'Neill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oneill Assessed Value
$106,749
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 Oneill, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68763 | $28,688 | $57,024 | $106,749 | $165,301 | $230,258 |
Source: Ownwell
Property Tax Bills Across Oneill, Nebraska
In O'Neill, located in Holt County, NE, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local assessor's office, which evaluates the property's market value and applies an assessment ratio. The resulting assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, the median home price in O'Neill is $106,749. With a tax rate that can result in bills ranging from $800 at the 25th percentile to $3,515 at the 90th percentile, homeowners can expect significant variability in their tax obligations. This range reflects differences in property values and the specific tax rates applied. Compared to the national median property tax rate of 0.99%, O'Neill's property taxes can be relatively moderate or quite substantial, depending on the assessed value and applicable exemptions. These tax bills directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it crucial for property owners to understand their tax liabilities.
Average Oneill Tax Bill
$1,578
Average Holt County Tax Bill
$1,293
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Oneill, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68763 | $373 | $800 | $1,578 | $2,488 | $3,515 |
Source: Ownwell