Cook, Nebraska Property Taxes
The median property tax rate in Cook, Nebraska is 2.23%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Cook, the typical annual property tax bill reaches $1,600, which is below the national median of $2,690. Property taxes in Cook 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 Cook'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 Cook 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
Cook, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.23%
Estimate Property Tax Bill
$1,794
-$18,802
Ownwell’s Cook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cook 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 Cook, Nebraska
Property taxes in Cook, Nebraska, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Cook is 2.23%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Cook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cook 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 Cook's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68329 has the highest median property tax rate of 2.23%, while the same zip code also represents the lowest median tax rate of 2.23%. Understanding how these cities compare with Cook provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cook Tax Rate
2.23%
Average Johnson County Tax Rate
1.77%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cook, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68329 | 1.38% | 1.40% | 2.23% | 2.23% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Cook, Nebraska
In Cook, 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 Johnson 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 Cook, 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 Cook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Cook is $80,454, with tax bills ranging from $863 at the 25th percentile to $6,704 at the 90th percentile. The zip code 68329 has both the highest and lowest median tax bill at $1,600.
Average Cook Assessed Value
$80,454
Average Johnson County Assessed Value
$88,760
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cook, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68329 | $21,729 | $41,114 | $80,454 | $154,149 | $478,106 |
Source: Ownwell
Property Tax Bills Across Cook, Nebraska
In Cook, Johnson County, Nebraska, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Cook is $80,454. Property tax rates are influenced by various factors, including local government budgets, school funding requirements, and public services. The tax bill varies significantly among homeowners. For instance, the tax bill at the 25th percentile is $863, while at the 75th percentile, it reaches $2,897. Those in the 90th percentile face a tax bill of $6,704. This wide range reflects the differences in property values and the specific tax rates applied. Homeowners in Cook must budget for these taxes, which can be a significant annual expense. Comparatively, the national median property tax rate is 0.99%, and Cook's property tax bills can either be more manageable or more burdensome depending on the assessed value and specific tax circumstances. This variability in tax bills underscores the importance of understanding local property tax assessments and their impact on household finances.
Average Cook Tax Bill
$1,600
Average Johnson County Tax Bill
$1,604
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Cook, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68329 | $494 | $863 | $1,600 | $2,897 | $6,704 |
Source: Ownwell