Talmage, Nebraska Property Taxes
The median property tax rate in Talmage, NE is 1.40%, which is higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Talmage, the typical annual property tax bill reaches $2,323, just below the national median of $2,690. Property taxes in Talmage 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 Talmage'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 Talmage 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
Talmage, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$2,320
-$24,313
Ownwell’s Talmage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Talmage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Talmage 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 Talmage, Nebraska
Property taxes in Talmage, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Talmage is 1.40%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Talmage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Talmage 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 Talmage's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68448 has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Talmage 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 Talmage Tax Rate
1.40%
Average Johnson County Tax Rate
1.77%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Talmage, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68448 | 1.39% | 1.40% | 1.40% | 1.40% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Talmage, Nebraska
In Talmage, 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 Talmage, 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 Talmage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,323, found in the 68448 zip code.
Average Talmage Assessed Value
$165,708
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 Talmage, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68448 | $114,912 | $140,695 | $165,708 | $355,060 | $598,200 |
Source: Ownwell
Property Tax Bills Across Talmage, Nebraska
In Talmage, located in Johnson County, NE, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the market value of the property. For homeowners in Talmage, the median home price is $165,708. The property tax rate in Johnson County influences the final tax bill. For instance, homeowners in the 25th percentile can expect to pay around $1,970, while those in the 75th percentile may face bills as high as $4,926. At the 90th percentile, tax bills can soar to $8,348. These tax bills are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners should be aware of these factors as they significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Talmage's figures highlight the variability in property tax obligations across different regions.
Average Talmage Tax Bill
$2,323
Average Johnson County Tax Bill
$1,604
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Talmage, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68448 | $1,609 | $1,970 | $2,323 | $4,926 | $8,348 |
Source: Ownwell