Grand Island, Nebraska Property Taxes
The median property tax rate in Grand Island, NE is 1.27%, which is higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $166,912, the typical annual property tax bill in Grand Island amounts to $1,657, falling below the national median of $2,690. Property taxes in Grand Island are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Grand Island'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 Grand Island or another part of Howard County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grand Island, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$2,120
Ownwell’s Grand Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Island 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 Grand Island, Nebraska
Property taxes in Grand Island, Nebraska, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Island is 1.65%, significantly higher than both the Nebraska state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Grand Island set these rates annually, and they can vary substantially across different neighborhoods. Each year, Grand Island 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 Grand Island's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68803 zip code has the highest median property tax rate of 1.68%, while the 68801 zip code has the lowest median tax rate of 1.62%. Understanding how these areas compare with Grand Island provides valuable insights into the varying tax landscape across Hall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand Island Tax Rate
1.27%
Average Howard County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Island, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68801 | 0.98% | 0.98% | 0.98% | 0.99% | 0.99% |
| 68803 | 0.95% | 1.25% | 1.28% | 1.30% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Grand Island, Nebraska
In Grand Island, 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 Howard 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 Grand Island, 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 Grand Island is $166,912. The 25th percentile tax bill is $448, while the 75th percentile tax bill is $5052. The highest median tax bill is $3073 in the 68801 zip code, and the lowest median tax bill is $635 in the 68803 zip code. 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 Grand Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grand Island Assessed Value
$166,912
Average Howard County Assessed Value
$166,027
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Island, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68801 | $132,481 | $199,872 | $312,191 | $432,756 | $505,095 |
| 68803 | $18,589 | $21,205 | $40,627 | $560,582 | $634,870 |
Source: Ownwell
Property Tax Bills Across Grand Island, Nebraska
In Grand Island, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor's office. The assessed value is a percentage of the property's market value, and this percentage can vary depending on local regulations and assessments. Homeowners in Grand Island, located in Howard County, experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $448, while at the 75th percentile, it reaches $5052, and at the 90th percentile, it can go as high as $7019. Several factors influence the property tax bill, including the property's location, size, and condition, as well as any improvements made. The highest median tax bill in the area is $3073 in the 68801 zip code, contrasting with the lowest median tax bill of $635 in the 68803 zip code. These taxes significantly impact homeowners by contributing to their annual expenses and influencing their decisions about property improvements and investments.
Average Grand Island Tax Bill
$1,657
Average Howard County Tax Bill
$2,390
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Island, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68801 | $1,310 | $1,971 | $3,073 | $4,241 | $4,942 |
| 68803 | $246 | $360 | $635 | $4,933 | $7,469 |
Source: Ownwell