Sprague, Nebraska Property Taxes
The median property tax rate in Sprague, NE is 1.47%, higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in Sprague at $177,000, the typical annual property tax bill reaches $2,582, just below the national median of $2,690. Property taxes in Sprague are determined based on the assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sprague'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 Sprague 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
Sprague, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$2,602
Ownwell’s Sprague Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sprague with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sprague 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 Sprague, Nebraska
Property taxes in Sprague, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sprague is 1.47%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Sprague set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sprague 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 Sprague's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68438 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Sprague 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 Sprague Tax Rate
1.47%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sprague, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68438 | 1.15% | 1.29% | 1.47% | 1.63% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Sprague, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sprague, Nebraska. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by Lancaster County 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. Assessment notices in Sprague 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 home price in Sprague is $177,000, with annual tax bills ranging from $1,981 at the 25th percentile to $3,410 at the 75th percentile. The highest median tax bill recorded is $2,582 in the 68438 zip code, which also happens to have the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Sprague Assessed Value
$177,000
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 Sprague, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68438 | $104,680 | $138,575 | $177,000 | $223,575 | $254,780 |
Source: Ownwell
Property Tax Bills Across Sprague, Nebraska
In Sprague, located in Lancaster County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For instance, with a median home price of $177,000, homeowners can expect varying tax bills depending on several factors, including the property's location and specific characteristics. Property tax bills in Sprague range significantly. The 25th percentile tax bill is approximately $1,981, while the 75th percentile tax bill can reach up to $3,410. Those in the 90th percentile could see tax bills as high as $3,900. These figures are influenced by the local tax rate and the assessed value of the property. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual expenses. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens. In Lancaster County, the highest and lowest median tax bills are both recorded at $2,582, indicating a relatively consistent tax environment within the area.
Average Sprague Tax Bill
$2,582
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Sprague, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68438 | $1,154 | $1,981 | $2,582 | $3,410 | $3,900 |
Source: Ownwell