Table Rock, Nebraska Property Taxes
The median property tax rate in Table Rock, NE is 1.32%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Table Rock, the typical annual property tax bill reaches $1,112, exceeding the national median of $2,690. Property taxes in Table Rock 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 Table Rock'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 Table Rock 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
Table Rock, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$1,050
-$11,004
Ownwell’s Table Rock Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers aiming to estimate their annual property taxes in Table Rock. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Table Rock to provide an accurate estimate of your property tax bill. This valuable resource helps you grasp potential tax liabilities with ease. For those interested in more detailed insights, you can explore neighborhood-level trends further down the page. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Table Rock, Nebraska
Property taxes in Table Rock, Nebraska, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Table Rock is 1.32%, significantly higher than the U.S. national median of 0.99%. Local government entities within Table Rock set these rates annually, and they can vary across different neighborhoods. Each year, Table Rock 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 Table Rock's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68447 has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these figures compare with Table Rock 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 Table Rock Tax Rate
1.32%
Average Johnson County Tax Rate
1.77%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Table Rock, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68447 | 1.12% | 1.20% | 1.32% | 1.36% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Table Rock, Nebraska
In Table Rock, 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 Assessor's 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 Table Rock, 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 Table Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68447 has the highest and lowest median tax bill at $1,112.
Average Table Rock Assessed Value
$79,545
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 Table Rock, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68447 | $72,182 | $74,943 | $79,545 | $281,042 | $401,941 |
Source: Ownwell
Property Tax Bills Across Table Rock, Nebraska
Property tax bills in Table Rock, a city in Johnson County, NE, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements made to the property. The median home price in Table Rock is $79,545, and the tax rate in Johnson County is reflective of the national median property tax rate of 0.99%. For homeowners, understanding these calculations is crucial as it directly impacts their annual financial planning. The tax bill can vary significantly, with the 25th percentile tax bill at $934 and the 75th percentile reaching $3,740. At the 90th percentile, homeowners might see tax bills as high as $5,317. These variations highlight the importance of knowing how property taxes are determined and the potential financial implications for property owners in Table Rock.
Average Table Rock Tax Bill
$1,112
Average Johnson County Tax Bill
$1,604
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Table Rock, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68447 | $827 | $934 | $1,112 | $3,740 | $5,317 |
Source: Ownwell