Virginia, Nebraska Property Taxes
The median property tax rate in Virginia, NE is 1.12%, which is notably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Virginia at $334,106, the typical annual property tax bill reaches $3,729, surpassing the national median of $2,690. Property taxes in Virginia are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Virginia'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 Virginia or another part of Johnson County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Virginia, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$3,742
-$39,216
Ownwell’s Virginia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Virginia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Virginia 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 Virginia, Nebraska
Property taxes in Virginia, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Virginia is 1.12%, which is significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Virginia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Virginia 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 Virginia's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68458 has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these areas compare with Virginia 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 Virginia Tax Rate
1.12%
Average Johnson County Tax Rate
1.77%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Virginia, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68458 | 1.11% | 1.11% | 1.12% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Virginia, Nebraska
In Virginia, 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 Virginia, 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. For instance, the median tax bill in Virginia ranges from $3,555 at the 25th percentile to $4,006 at the 90th percentile, with the highest and lowest median tax bills being $3,729 in zip code 68458. 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 Virginia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Virginia Assessed Value
$334,106
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 Virginia, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68458 | $308,480 | $318,090 | $334,106 | $350,121 | $359,731 |
Source: Ownwell
Property Tax Bills Across Virginia, Nebraska
In Virginia, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor's office. This assessed value is a percentage of the home's market value. Once the assessed value is established, it is multiplied by the property tax rate set by local taxing authorities to determine the tax bill. For homeowners in Johnson County, the median home price is $334,106. Factors such as property size, location, and improvements can influence the assessed value. The tax bill can vary significantly, with the 25th percentile at $3,555 and the 75th percentile at $3,902. The 90th percentile tax bill can go up to $4,006, indicating a range of property values and tax burdens within the area. Compared to the national median property tax rate of 0.99%, homeowners in Virginia, NE, may find their rates competitive, but the actual tax burden depends on individual property assessments and local tax rates. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners differently based on their property's assessed value.
Average Virginia Tax Bill
$3,729
Average Johnson County Tax Bill
$1,604
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Virginia, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68458 | $3,451 | $3,555 | $3,729 | $3,902 | $4,006 |
Source: Ownwell