Saint Libory, Nebraska Property Taxes
The median property tax rate in Saint Libory, NE is 1.27%, 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 Saint Libory at $212,670, the typical annual property tax bill amounts to $2,550, slightly below the national median of $2,690. Property taxes in Saint Libory are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Saint Libory'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 Saint Libory 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
Saint Libory, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$2,701
Ownwell’s Saint Libory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Libory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Libory 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 Saint Libory, Nebraska
Property taxes in Saint Libory, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Libory is 1.27%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Saint Libory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Libory 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 Saint Libory's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68872 has both the highest and lowest median property tax rate of 1.27%. Understanding how these areas compare with Saint Libory 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 Saint Libory Tax Rate
1.27%
Average Merrick County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Libory, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68872 | 0.96% | 1.26% | 1.27% | 1.27% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Saint Libory, Nebraska
In Saint Libory, 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 Saint Libory, 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 Saint Libory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,550, found in the 68872 zip code.
Average Saint Libory Assessed Value
$212,670
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 Saint Libory, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68872 | $105,812 | $149,640 | $212,670 | $355,281 | $624,988 |
Source: Ownwell
Property Tax Bills Across Saint Libory, Nebraska
In Saint Libory, Merrick County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value, determined by county officials, reflects the market value of the property. Homeowners in Saint Libory face a median property tax rate that aligns closely with the national median of 0.99%. For a median home price of $212,670, the tax bill can vary significantly. Homeowners at the 25th percentile pay around $1,599, while those at the 75th percentile see bills closer to $4,123. At the 90th percentile, tax bills can reach up to $7,848. These variations depend on factors like property improvements, neighborhood developments, and changes in local government budgets. High property taxes can impact homeowners by increasing the overall cost of owning a home, potentially affecting affordability and resale value. Conversely, these taxes fund essential public services such as schools, infrastructure, and emergency services, contributing to the community's overall quality of life.
Average Saint Libory Tax Bill
$2,550
Average Merrick County Tax Bill
$1,907
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Libory, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68872 | $895 | $1,599 | $2,550 | $4,123 | $7,848 |
Source: Ownwell