Valparaiso, Nebraska Property Taxes
The median property tax rate in Valparaiso, NE is 1.21%, which is higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $381,200, the typical annual property tax bill in Valparaiso reaches $4,721, significantly surpassing the national median of $2,690. Property taxes in Valparaiso are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding the nuances of Valparaiso's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Valparaiso or its surrounding areas, gaining insight into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Valparaiso, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$4,613
Ownwell’s Valparaiso Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Valparaiso. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Valparaiso to provide an accurate estimate of your property tax bill. This powerful tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed information, including neighborhood-specific trends, additional data is available below. Your property's assessed value, determined by the county, forms the basis for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Valparaiso, Nebraska
Property taxes in Valparaiso, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valparaiso is 1.21%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Valparaiso set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valparaiso 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 Valparaiso's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68065 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Valparaiso 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 Valparaiso Tax Rate
1.21%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valparaiso, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68065 | 1.05% | 1.16% | 1.21% | 1.30% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Valparaiso, Nebraska
In Valparaiso, 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 local 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 Valparaiso, 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 Valparaiso helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Valparaiso's zip code 68065 has both the highest and lowest median tax bills at $4,721.
Average Valparaiso Assessed Value
$381,200
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 Valparaiso, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68065 | $274,460 | $313,300 | $381,200 | $424,900 | $460,220 |
Source: Ownwell
Property Tax Bills Across Valparaiso, Nebraska
In Valparaiso, located in Lancaster County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or modifications made to the home. For homeowners in Valparaiso, the median home price stands at $381,200. Property tax bills can vary significantly, with the 25th percentile at $3,887 and the 75th percentile reaching $5,477. At the 90th percentile, homeowners might see a tax bill as high as $5,864. These figures show a range of potential tax liabilities, reflecting differences in property values and assessment criteria. Comparing these local figures to the national median property tax rate of 0.99%, Valparaiso's property tax bills can be relatively high, impacting homeowners' annual financial planning and overall cost of homeownership.
Average Valparaiso Tax Bill
$4,721
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Valparaiso, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68065 | $3,256 | $3,887 | $4,721 | $5,477 | $5,864 |
Source: Ownwell