Knox County Property Taxes
The median property tax rate in Knox County is 1.28%, which is significantly higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With the median home value in Knox County at $96,140, the typical annual property tax bill reaches $1,362, which is below the national median of $2,690. Property taxes in Knox County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Knox County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Center or another part of Knox County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Knox County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$1,231
Ownwell’s Knox County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Knox County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Knox County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Knox County, Nebraska
Property taxes in Knox County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Knox County is 1.28%, which is higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Knox County set these rates annually, and they can vary significantly between different areas within the county. Each year, Knox County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Wausa has one of the higher property tax rates in Nebraska at 1.77%, while the city of Plainview boasts one of the lowest at 1.13%. Analyzing how Knox County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Knox County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knox County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bloomfield | 0.89% | 0.92% | 1.50% | 1.50% | 1.50% |
| Center | 0.91% | 1.14% | 1.40% | 1.65% | 1.65% |
| Creighton | 0.81% | 1.19% | 1.66% | 1.66% | 1.66% |
| Crofton | 1.07% | 1.15% | 1.28% | 1.62% | 1.62% |
| Niobrara | 0.94% | 1.13% | 1.13% | 1.72% | 1.72% |
| Oneill | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| Orchard | 0.97% | 1.08% | 1.14% | 1.19% | 1.20% |
| Pittsburgh | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
| Plainview | 1.01% | 1.04% | 1.13% | 1.17% | 1.29% |
| Verdel | 1.39% | 1.39% | 1.39% | 1.49% | 1.54% |
| Verdigre | 1.05% | 1.19% | 1.23% | 1.88% | 1.88% |
| Wausa | 1.02% | 1.25% | 1.77% | 1.77% | 1.77% |
| Winnetoon | 0.96% | 1.16% | 1.20% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Knox County, Nebraska
In Knox County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Knox County Appraisal District. The assessed value, however, 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. Assessment notices in Knox County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Knox County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Knox County, the median home price is $96,140, with tax bills ranging from $594 at the 25th percentile to $5,372 at the 90th percentile. The highest median tax bill in the county is found in O'Neill at $6,549, while Verdel has the lowest at $600. Comparing these figures with the national median property tax rate of 0.99% highlights the importance of understanding local tax dynamics to optimize your property tax situation.
Average Knox County Assessed Value
$96,140
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knox County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bloomfield | $20,638 | $41,809 | $81,390 | $219,302 | $591,621 |
| Center | $6,558 | $16,385 | $45,555 | $187,235 | $392,641 |
| Creighton | $15,392 | $32,061 | $68,258 | $131,155 | $388,993 |
| Crofton | $47,496 | $92,465 | $154,635 | $266,355 | $438,633 |
| Niobrara | $13,375 | $46,692 | $78,790 | $150,658 | $273,810 |
| Oneill | $532,960 | $532,960 | $532,960 | $532,960 | $532,960 |
| Orchard | $128,360 | $197,335 | $316,430 | $507,685 | $813,082 |
| Pittsburgh | $49,800 | $49,800 | $49,800 | $49,800 | $49,800 |
| Plainview | $27,315 | $76,626 | $482,858 | $859,760 | $928,768 |
| Verdel | $38,657 | $40,378 | $43,245 | $49,342 | $53,001 |
| Verdigre | $22,081 | $46,380 | $91,555 | $236,580 | $427,002 |
| Wausa | $23,054 | $46,350 | $81,135 | $193,770 | $715,009 |
| Winnetoon | $12,218 | $27,960 | $124,320 | $346,038 | $412,587 |
Source: Ownwell
Property Tax Bills Across Knox County, Nebraska
In Knox County, NE, property tax bills are determined based on the assessed value of the property, which is typically a percentage of the market value. This assessed value is then multiplied by the local tax rate to calculate the tax bill. Homeowners in Knox County experience a range of property tax bills, with the 25th percentile at $594 and the 75th percentile reaching $2,828. For those at the 90th percentile, the tax bill can be as high as $5,372. Several factors influence the assessed value, including property size, location, and improvements. For example, the highest median tax bill in Knox County is found in O'Neill at $6,549, while the lowest is in Verdel at $600. These variations can significantly impact homeowners, affecting their annual budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, Knox County’s rates can vary widely, underscoring the importance of understanding local tax assessments.
Average Knox County Tax Bill
$1,362
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Knox County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bloomfield | $104 | $479 | $1,054 | $2,350 | $5,472 |
| Center | $98 | $231 | $615 | $2,232 | $4,271 |
| Creighton | $95 | $367 | $969 | $1,927 | $4,829 |
| Crofton | $531 | $1,230 | $2,177 | $3,438 | $5,629 |
| Niobrara | $124 | $509 | $1,065 | $1,794 | $3,132 |
| Oneill | $6,549 | $6,549 | $6,549 | $6,549 | $6,549 |
| Orchard | $1,314 | $2,257 | $3,546 | $5,875 | $8,673 |
| Pittsburgh | $734 | $734 | $734 | $734 | $734 |
| Plainview | $342 | $910 | $5,053 | $9,137 | $9,906 |
| Verdel | $537 | $561 | $600 | $739 | $822 |
| Verdigre | $173 | $678 | $1,432 | $2,942 | $5,169 |
| Wausa | $234 | $669 | $1,353 | $2,721 | $8,228 |
| Winnetoon | $126 | $422 | $1,395 | $3,652 | $4,805 |
Source: Ownwell