Marquette, Nebraska Property Taxes
The median property tax rate in Marquette, NE is 0.93%, slightly below the national median of 0.99% but significantly lower than the Nebraska state median of 1.75%. With the median home value in Marquette at $364,215, the typical annual property tax bill reaches $3,391, surpassing the national median of $2,690. Property taxes in Marquette are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Marquette'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 Marquette 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
Marquette, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$3,387
$3,143
Ownwell’s Marquette Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marquette with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marquette 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 Marquette, Nebraska
Property taxes in Marquette, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marquette is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Marquette set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marquette 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 Marquette's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68854 zip code has the highest median property tax rate of 0.93%, while the lowest median tax rate is also 0.93%. Understanding how these cities compare with Marquette 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 Marquette 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 Marquette, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68854 | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Marquette, Nebraska
In Marquette, 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 Marquette, 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 Marquette helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68854 has both the highest and lowest median tax bill at $3,391.
Average Marquette Assessed Value
$364,215
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 Marquette, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68854 | $364,215 | $364,215 | $364,215 | $364,215 | $364,215 |
Source: Ownwell
Property Tax Bills Across Marquette, Nebraska
In Marquette, Merrick County, NE, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Factors that influence the assessed value include the property's location, size, and condition. In Marquette, the median home price is $364,215, and property tax bills are notably consistent, with the 25th, 75th, and 90th percentiles all at $3,391. This uniformity indicates a stable tax environment for homeowners. Compared to the national median property tax rate of 0.99%, Marquette's property taxes provide a predictable financial landscape for residents. Homeowners in Marquette can expect a reliable tax bill, which helps in budgeting and financial planning, ensuring there are no unexpected increases in their annual expenses.
Average Marquette Tax Bill
$3,391
Average Merrick County Tax Bill
$1,907
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Marquette, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68854 | $3,391 | $3,391 | $3,391 | $3,391 | $3,391 |
Source: Ownwell