Norfolk, Madison County, Nebraska Property Taxes

Name: Property Tax Bills Across Norfolk, Madison County, Nebraska
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Norfolk, NE effective property tax rate: 1.88%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Norfolk, NE home value: $165,445
Median annual Norfolk, NE tax bill: $3,088, $688 higher than the national median property tax bill of $2,400.

How are property taxes in Madison calculated?

Property taxes in Norfolk, NE are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Norfolk’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Norfolk, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Norfolk, Madison County, Nebraska Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.88%

Estimate Property Tax Bill

$3,110

$2,886

Ownwell’s Norfolk Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Norfolk with just two data points. By entering your property's estimated assessed value, our calculator applies Norfolk’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Madison County. While the median property tax bill in Norfolk is $3,088, significantly higher than the national median of $2,400, our services can help you explore opportunities for savings. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Norfolk, Madison County, Nebraska

Local government entities set tax rates, which can vary widely within a state. The reason? Each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In Norfolk, situated in Madison County, Nebraska, the effective property tax rate is 1.88%, which stands above the national median of 1.02%. This rate reflects the county's budgetary needs and the total assessed value of properties. When compared to other cities in Nebraska, Norfolk's rate is notably high, matching the highest median tax rate in the state. This can impact homeowners significantly, especially when considering the national median property tax bill of $2,400. Understanding these rates and how they compare can be crucial for property owners looking to manage their expenses effectively.

Property Tax Rates Across Norfolk, Madison County, Nebraska

Source: Ownwell

1.30%

1.76%

2.22%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Norfolk Tax Rate

1.88%

Median Effective Madison County Tax Rate

1.88%

Median Effective Nebraska Tax Rate

1.75%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Norfolk, Madison County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
68701	1.56%	1.88%	1.88%	1.88%	1.88%

Source: Ownwell

Property Tax Assessment Values Across Norfolk, Madison County, Nebraska

When examining property taxes in Norfolk, Nebraska, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Madison County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Madison County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Norfolk.

For example, the median home price in Norfolk is $165,445, with tax bills ranging significantly across the county. Zip code 68701 has the highest median home price at $165,677.

Property Tax Assessment Values Across Norfolk, Madison County, Nebraska

Source: Ownwell

$71,396

$255,122

$438,847

Median Norfolk Market Value

$165,445

Median Madison County Market Value

$158,492

Median Nebraska Market Value

$182,439

Median United States Market Value

$235,294

Property Tax Assessment Values Across Norfolk, Madison County, Nebraska

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
68701	$60,120	$112,550	$165,677	$228,660	$323,805

Source: Ownwell

Property Tax Bills Across Norfolk, Madison County, Nebraska

In Norfolk, Madison County, NE, property tax bills are determined by multiplying the property's assessed value by the local tax rate. The assessed value is typically a percentage of the market value, reflecting the home's worth. The local tax rate is set by various taxing authorities and can vary annually. Homeowners in Norfolk face a median property tax bill of $3,088, which is above the national median of $2,400. This indicates a higher tax burden compared to the national average, despite the median home price being $165,445. Factors such as changes in local government budgets and property value fluctuations can influence tax rates and, consequently, tax bills. Ownwell helps homeowners reduce their property tax bills by providing expert property tax appeal services. By analyzing property assessments and identifying discrepancies, Ownwell assists homeowners in filing successful appeals, potentially lowering their tax obligations. This service ensures that property owners in Norfolk pay a fair amount, aligning their tax bills more closely with their property's true value.

Property Tax Bills Across Norfolk, Madison County, Nebraska

Source: Ownwell

$1,224

$3,696

$6,167

Median Norfolk Tax Bill

$3,088

Median Madison County Tax Bill

$2,934

Median Nebraska Tax Bill

$3,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Norfolk, Madison County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
68701	$1,182	$2,119	$3,088	$4,194	$5,888

Source: Ownwell