Fullerton, Nebraska Property Taxes
The median property tax rate in Fullerton, NE is 1.17%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Fullerton at $752,435, the typical annual property tax bill reaches $8,899, significantly surpassing the national median of $2,690. Property taxes in Fullerton are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Fullerton'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 Fullerton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fullerton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$8,803
$8,169
Ownwell’s Fullerton Property Tax Bill Calculator assists homeowners, real estate investors, or potential buyers in estimating their annual property taxes in Fullerton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Fullerton to project your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for tax purposes, considering any applicable exemptions.
Property Tax Rates Across Fullerton, Nebraska
Property taxes in Fullerton, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fullerton is 1.17%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Fullerton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fullerton 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 Fullerton's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68638 zip code has the highest median property tax rate of 1.17%, while the 68638 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Fullerton 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 Fullerton Tax Rate
1.17%
Average Merrick County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fullerton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68638 | 0.97% | 1.04% | 1.17% | 1.17% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Fullerton, Nebraska
In Fullerton, 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 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 Fullerton, 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 Fullerton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Fullerton is $8,899 in the 68638 zip code, reflecting the significant variation in property tax obligations within the area.
Average Fullerton Assessed Value
$752,435
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 Fullerton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68638 | $286,907 | $461,480 | $752,435 | $1,096,068 | $1,302,247 |
Source: Ownwell
Property Tax Bills Across Fullerton, Nebraska
In Fullerton, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the property tax rate set by Merrick County. For example, with a median home price of $752,435, homeowners can expect varying tax bills depending on their home's specific assessed value and applicable exemptions. Several factors influence the final tax bill, including the property's location, market conditions, and any applicable exemptions or deductions. For instance, the tax bill at the 25th percentile is $5,443, while at the 75th percentile, it rises to $11,037. Homeowners at the 90th percentile see tax bills as high as $12,320. These figures highlight the range of property tax burdens within Fullerton, reflecting differences in property values and assessment practices. Compared to the national median property tax rate of 0.99%, Fullerton's property tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Fullerton Tax Bill
$8,899
Average Merrick County Tax Bill
$1,907
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Fullerton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68638 | $3,369 | $5,443 | $8,899 | $11,037 | $12,320 |
Source: Ownwell