Scotia, Nebraska Property Taxes
The median property tax rate in Scotia, NE is 1.08%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Scotia at $359,924, the typical annual property tax bill reaches $3,032, surpassing the national median of $2,690. Property taxes in Scotia are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Scotia'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 Scotia 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
Scotia, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,887
$3,607
Ownwell’s Scotia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scotia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scotia 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 Scotia, Nebraska
Property taxes in Scotia, Nebraska, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Scotia is 1.25%, higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Scotia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scotia 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 Scotia's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68875 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Scotia provides valuable insights into the varying tax landscape across Greeley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Scotia Tax Rate
1.08%
Average Howard County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scotia, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68875 | 0.79% | 0.97% | 1.08% | 1.08% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Scotia, Nebraska
In Scotia, 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 Assessment Office 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 Scotia, 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 Scotia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $359,924, with tax bills ranging from $2,393 at the 25th percentile to $4,071 at the 75th percentile, and $5,414 at the 90th percentile. The highest and lowest median tax bills are both $3,032 in zip code 68875.
Average Scotia Assessed Value
$359,924
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 Scotia, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68875 | $179,419 | $262,389 | $359,924 | $455,107 | $533,843 |
Source: Ownwell
Property Tax Bills Across Scotia, Nebraska
In Scotia, located in Howard County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence the assessed value, including the home's market value, location, and any improvements made to the property. For instance, the median home price in Scotia is $359,924, which provides a baseline for tax calculations. Homeowners in Scotia experience a range of property tax bills. At the 25th percentile, the tax bill is approximately $2,393, while at the 75th percentile, it rises to around $4,071. The highest tax bills, at the 90th percentile, can reach up to $5,414. These figures reflect the variability in assessed values and the impact of local tax rates. Compared to the national median property tax rate of 0.99%, Scotia's property taxes can significantly influence homeowners' financial planning and housing affordability.
Average Scotia Tax Bill
$3,032
Average Howard County Tax Bill
$2,390
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Scotia, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68875 | $1,772 | $2,393 | $3,032 | $4,071 | $5,414 |
Source: Ownwell