Clarks, Nebraska Property Taxes
The median property tax rate in Clarks, NE is 0.93%, slightly below the national median of 0.99% and significantly lower than the Nebraska state median of 1.75%. With the median home value in Clarks at $164,950, the typical annual property tax bill is approximately $1,850, which is under the national median of $2,690. Property taxes in Clarks are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Clarks' property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether residing in the heart of Clarks or another area within Merrick County, gaining insights into the local property tax system can provide financial advantages and peace of mind.
Last Updated June 14, 2024
Clarks, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,534
$1,424
Ownwell’s Clarks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarks 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 Clarks, Nebraska
Property taxes in Clarks, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarks is 0.93%, which is slightly below the U.S. national median of 0.99%. Local government entities within Clarks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarks 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 Clarks's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68628 has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Clarks 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 Clarks Tax Rate
0.93%
Average Merrick County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarks, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68628 | 0.92% | 0.93% | 0.93% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Clarks, Nebraska
In Clarks, 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 Clarks, 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. For example, the median home price is $164,950, with tax bills ranging from $779 at the 25th percentile to $5,159 at the 90th percentile. The zip code 68628 has the highest and lowest median tax bill at $1,850. Being aware of these valuation processes in Clarks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clarks Assessed Value
$164,950
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 Clarks, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68628 | $21,884 | $64,100 | $164,950 | $350,315 | $554,125 |
Source: Ownwell
Property Tax Bills Across Clarks, Nebraska
In Clarks, property tax bills are calculated based on the assessed value of a home, which is determined by the Merrick County assessor. The assessed value is typically a percentage of the property's market value. For example, with a median home price of $164,950, the assessed value forms the basis for calculating the tax bill. The tax rate is then applied to this assessed value to determine the final tax bill. Several factors influence the property tax bill, including the property's location, size, and any improvements made. In Clarks, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $779, while those in the 75th percentile face bills closer to $3,350. At the 90th percentile, the tax bill can reach up to $5,159. Compared to the national median property tax rate of 0.99%, Clarks offers a varied range of tax bills, reflecting the diverse property values and local tax rates. These taxes fund essential services like schools, infrastructure, and public safety, directly impacting the community and its residents.
Average Clarks Tax Bill
$1,850
Average Merrick County Tax Bill
$1,907
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarks, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68628 | $232 | $779 | $1,850 | $3,350 | $5,159 |
Source: Ownwell