Fairfield, Nebraska Property Taxes
The median property tax rate in Fairfield, NE is 1.08%, slightly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $419,990 in Fairfield, the typical annual property tax bill reaches $4,530, significantly exceeding the national median of $2,690. Property taxes in Fairfield are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fairfield'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 Fairfield 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
Fairfield, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$4,536
$4,209
Ownwell’s Fairfield Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fairfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairfield 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 Fairfield, Nebraska
Property taxes in Fairfield, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfield is 1.08%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Fairfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfield 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 Fairfield's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68938 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Fairfield provides valuable insights into the varying tax landscape across Nuckolls County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairfield Tax Rate
1.08%
Average Nuckolls County Tax Rate
1.58%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairfield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68938 | 1.08% | 1.08% | 1.08% | 1.08% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield, Nebraska
In Fairfield, 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 Nuckolls 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 Fairfield, 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. The highest median tax bill in Fairfield is $4530.00 in the 68938 zip code, while the lowest median tax bill is also $4530.00 in the same zip code. Being aware of these valuation processes can help identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairfield Assessed Value
$419,990
Average Nuckolls County Assessed Value
$44,235
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairfield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68938 | $125,676 | $162,765 | $419,990 | $631,630 | $1,150,462 |
Source: Ownwell
Property Tax Bills Across Fairfield, Nebraska
In Fairfield, located in Nuckolls County, Nebraska, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Fairfield can expect their property tax bills to vary significantly, depending on the value of their property and the specific tax rates applied. The median home price in Fairfield is $419,990, which provides a baseline for understanding potential tax bills. For instance, homeowners at the 25th percentile can expect a tax bill around $1,783, while those at the 75th percentile might see bills as high as $6,839. At the 90th percentile, property tax bills can reach up to $12,413. The highest median tax bill in the region is $4,530, found in the zip code 68938. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for Fairfield residents. Understanding these factors helps homeowners better anticipate their financial responsibilities.
Average Fairfield Tax Bill
$4,530
Average Nuckolls County Tax Bill
$697
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68938 | $1,368 | $1,783 | $4,530 | $6,839 | $12,413 |
Source: Ownwell