Wausa, Nebraska Property Taxes
The median property tax rate in WAUSA, NE is 1.77%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in WAUSA, the typical annual property tax bill reaches $1,353, exceeding the national median of $2,690. Property taxes in WAUSA 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 WAUSA'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 WAUSA 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
Wausa, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$1,436
$1,333
Ownwell’s WAUSA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WAUSA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WAUSA 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 Wausa, Nebraska
Property taxes in WAUSA, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in WAUSA is 1.77%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within WAUSA set these rates annually, and they can vary significantly across different neighborhoods. Each year, WAUSA 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 WAUSA's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68786 zip code has the highest median property tax rate of 1.77%, while the 68786 zip code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with WAUSA provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wausa Tax Rate
1.77%
Average Knox County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wausa, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68786 | 1.02% | 1.25% | 1.77% | 1.77% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Wausa, Nebraska
In WAUSA, 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 Knox 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 WAUSA, 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 WAUSA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,353 in the 68786 zip code, while the lowest is also $1,353 in the same zip code.
Average Wausa Assessed Value
$81,135
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 Wausa, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68786 | $23,054 | $46,350 | $81,135 | $193,770 | $715,009 |
Source: Ownwell
Property Tax Bills Across Wausa, Nebraska
In Wausa, located in Knox County, NE, property tax bills are determined based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Wausa has a median home price of $81,135. The local tax rate is applied to this assessed value to calculate the annual property tax bill. Factors influencing the tax bill include the property's location, size, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill in Wausa is $669, while the 75th percentile tax bill reaches $2,721, showing a significant range based on property characteristics. The 90th percentile tax bill can go as high as $8,228, indicating that higher-value properties bear a greater tax burden. These tax bills impact homeowners by contributing to their annual expenses, influencing decisions on property purchases and investments. Compared to the national median property tax rate of 0.99%, the property tax rates in Wausa can vary significantly, affecting overall affordability and cost of living.
Average Wausa Tax Bill
$1,353
Average Knox County Tax Bill
$1,362
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Wausa, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68786 | $234 | $669 | $1,353 | $2,721 | $8,228 |
Source: Ownwell