Grand Island, Merrick County, Nebraska Property Taxes
Median GRAND ISLAND, NE effective property tax rate: 1.07%, slightly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median GRAND ISLAND, NE home value: $174,710
Median annual GRAND ISLAND, NE tax bill: $1,788, $612 lower than the national median property tax bill of $2,400.
How are property taxes in Merrick calculated?
Property taxes in GRAND ISLAND, 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 GRAND ISLAND’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in GRAND ISLAND, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Grand Island, Merrick County, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.07%
Estimate Property Tax Bill
$1,869
$1,735
Property Tax Rates Across Grand Island, Merrick County, Nebraska
Local government entities set tax rates, which can vary widely within a state. Each year, counties estimate their required budgets to provide services and divide that by the total value of all taxable property within their 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.
Grand Island, located in Merrick County, NE, has a median property tax rate of 1.07%, which is slightly above the national median of 1.02%. This rate reflects the local government's budgetary needs and the total assessed value of properties in the area. In comparison to other cities within Nebraska, Grand Island's tax rate is consistent, as it is both the highest and lowest in the state, indicating a uniform approach to property taxation in this region.
By examining Grand Island’s effective property tax rate, residents can better understand how their local tax obligations compare to both state and national averages, providing valuable insights for homeowners and potential buyers.
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 Grand Island Tax Rate
1.07%
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 Merrick County Tax Rate
1.28%
Median Effective Nebraska Tax Rate
1.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Grand Island, Merrick County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68801 | 1.05% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Grand Island, Merrick County, Nebraska
When examining property taxes in Grand Island, 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 Merrick County Appraisal District 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 Merrick County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Grand Island.
For example, the median home price in Grand Island is $174,710, with tax bills ranging significantly across the county. Zip code 68801 has the highest median home price at $174,710.
Property Tax Assessment Values Across Grand Island, Merrick County, Nebraska
Source: Ownwell
$80,835
$146,753
$212,670
Median Grand Island Market Value
$174,710
Median Merrick County Market Value
$135,822
Median Nebraska Market Value
$182,439
Median United States Market Value
$235,294
Property Tax Assessment Values Across Grand Island, Merrick County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68801 | $39,940 | $82,120 | $174,710 | $236,289 | $427,284 |
Source: Ownwell
Property Tax Bills Across Grand Island, Merrick County, Nebraska
Median Grand Island Tax Bill
$1,788
Median Merrick County Tax Bill
$1,907
Median Nebraska Tax Bill
$3,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Grand Island, Merrick County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68801 | $415 | $688 | $1,788 | $2,540 | $4,490 |
Source: Ownwell