Chapman, Nebraska Property Taxes
The median property tax rate in Chapman, NE is 1.20%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $149,320 in Chapman, the typical annual property tax bill reaches $1,773, which is below the national median of $2,690. Property taxes in Chapman are calculated based on the tax assessed value, typically lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Chapman'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 Chapman 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
Chapman, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,792
$1,663
Ownwell’s Chapman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chapman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chapman 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 Chapman, Nebraska
Property taxes in Chapman, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chapman is 1.20%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Chapman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chapman 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 Chapman's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68827 zip code has the highest median property tax rate of 1.20%, while the 68827 zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Chapman provides valuable insights into the varying tax landscape across Merrick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chapman Tax Rate
1.20%
Average Merrick County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chapman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68827 | 1.06% | 1.08% | 1.20% | 1.26% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Chapman, Nebraska
In Chapman, 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 Merrick 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 Chapman, 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 Chapman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chapman is $149,320, with tax bills ranging from $790 at the 25th percentile to $6,915 at the 90th percentile. The zip code 68827 has the highest median tax bill of $1,773.
Average Chapman Assessed Value
$149,320
Average Merrick County Assessed Value
$135,822
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chapman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68827 | $22,695 | $73,900 | $149,320 | $284,245 | $600,080 |
Source: Ownwell
Property Tax Bills Across Chapman, Nebraska
In Chapman, located in Merrick County, NE, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value, which is determined by the county assessor based on factors such as property size, location, and recent sales of similar properties. The local tax rate, set by various taxing authorities like school districts and municipalities, is then applied to this assessed value. For homeowners in Chapman, the median home price stands at $149,320. Property tax bills can vary significantly, with the 25th percentile at $790 and the 75th percentile reaching $3,282. The 90th percentile sees tax bills as high as $6,915. These figures highlight the range of tax burdens homeowners might face, influenced by property values and local tax rates. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand their specific tax obligations to manage their financial planning effectively.
Average Chapman Tax Bill
$1,773
Average Merrick County Tax Bill
$1,907
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Chapman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68827 | $239 | $790 | $1,773 | $3,282 | $6,915 |
Source: Ownwell