Davey, Nebraska Property Taxes
The median property tax rate in Davey, NE is 1.31%, which is notably higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With the median home value in Davey at $315,000, the typical annual property tax bill reaches $3,913, surpassing the national median of $2,690. Property taxes in Davey are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Davey'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 Davey 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
Davey, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$4,127
Ownwell’s Davey Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Davey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Davey to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those 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 Davey, Nebraska
Property taxes in Davey, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Davey is 1.31%, significantly higher than the U.S. national median of 0.99%. Local government entities within Davey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davey 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 Davey's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68336 zip code has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Davey provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Davey Tax Rate
1.31%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davey, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68336 | 1.05% | 1.18% | 1.31% | 1.42% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Davey, Nebraska
In Davey, 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 Lancaster County Assessor 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 Davey, 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 Davey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 68336 has the highest and lowest median tax bill at $3,913.
Average Davey Assessed Value
$315,000
Average Lancaster County Assessed Value
$238,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Davey, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68336 | $133,320 | $195,450 | $315,000 | $410,850 | $537,500 |
Source: Ownwell
Property Tax Bills Across Davey, Nebraska
Property tax bills in Davey, situated within Lancaster County, Nebraska, are calculated based on the assessed value of a property. The local tax assessor determines this value, which is then multiplied by the local tax rate to derive the annual tax bill. For homeowners in Davey, the tax rates are influenced by various factors, including the property's size, location, and market conditions. The median home price in Davey is $315,000, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $2,528, while the 75th percentile reaches up to $5,320. At the 90th percentile, homeowners might see tax bills as high as $6,863. These figures highlight the variability in property taxes depending on the specific characteristics of each home. Comparatively, Davey's property tax rates can be seen as moderate, considering the national median property tax rate is 0.99%. Understanding how these rates and assessed values interplay is crucial for homeowners to anticipate their annual financial obligations.
Average Davey Tax Bill
$3,913
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Davey, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68336 | $1,557 | $2,528 | $3,913 | $5,320 | $6,863 |
Source: Ownwell