Meadow Grove, Nebraska Property Taxes
The median property tax rate in Meadow Grove, NE is 1.56%, which is considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Meadow Grove, the typical annual property tax bill reaches $2,127, exceeding the national median of $2,690. Property taxes in Meadow Grove 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 Meadow Grove'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 Meadow Grove 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
Meadow Grove, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$1,798
$1,669
Ownwell’s Meadow Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meadow Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meadow Grove 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 Meadow Grove, Nebraska
Property taxes in Meadow Grove, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Meadow Grove is 1.56%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Meadow Grove set these rates annually, and they can vary across different neighborhoods. Each year, Meadow Grove 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 Meadow Grove's effective property tax rate to other areas in Nebraska and the national median. For comparison, the highest median property tax rate in Madison County is also 1.56%, found in the zip code 68752, while the lowest median tax rate is similarly 1.56%, also in the zip code 68752. Understanding how these rates compare with Meadow Grove provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meadow Grove Tax Rate
1.56%
Average Madison County Tax Rate
1.88%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meadow Grove, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68752 | 1.45% | 1.54% | 1.56% | 2.24% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across Meadow Grove, Nebraska
In Meadow Grove, 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 Madison 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 Meadow Grove, 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. The highest median tax bill in Meadow Grove is $2,127 in zip code 68752, while the lowest median tax bill also stands at $2,127 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Meadow Grove Assessed Value
$115,273
Average Madison County Assessed Value
$158,492
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meadow Grove, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68752 | $18,843 | $40,794 | $115,273 | $371,075 | $771,143 |
Source: Ownwell
Property Tax Bills Across Meadow Grove, Nebraska
Property tax bills in Meadow Grove, located in Madison County, NE, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and typically reflects a percentage of the property's market value. In Meadow Grove, the median home price is $115,273. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and improvements made to the property. Homeowners in Meadow Grove can expect varying tax bills, with the 25th percentile at $923 and the 75th percentile reaching $5,611. For those at the higher end, the 90th percentile tax bill can be as much as $11,377. Compared to the national median property tax rate of 0.99%, Meadow Grove's property taxes can be significant, impacting homeowners' annual budgets. Understanding these factors can help homeowners better plan for their property tax obligations and manage their finances effectively.
Average Meadow Grove Tax Bill
$2,127
Average Madison County Tax Bill
$2,934
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Meadow Grove, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68752 | $419 | $923 | $2,127 | $5,611 | $11,377 |
Source: Ownwell