Avoca, Nebraska Property Taxes
The median property tax rate in Avoca, NE is 1.44%, notably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $253,798 in Avoca, the typical annual property tax bill reaches $3,640, surpassing the national median of $2,690. Property taxes in Avoca are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Avoca'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 Avoca or another part of Otoe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Avoca, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$3,655
$3,391
Ownwell’s Avoca Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Avoca with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Avoca 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 Avoca, Nebraska
Property taxes in Avoca, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Avoca is 1.44%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Avoca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Avoca 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 Avoca's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68307 zip code has both the highest and lowest median property tax rate of 1.44%. Understanding how these cities compare with Avoca provides valuable insights into the varying tax landscape across Otoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Avoca Tax Rate
1.44%
Average Otoe County Tax Rate
1.92%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Avoca, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68307 | 1.27% | 1.42% | 1.44% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Avoca, Nebraska
In Avoca, 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 Otoe 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 Avoca, 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 Avoca helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Otoe County, the zip code 68307 has both the highest and lowest median tax bill, valued at $3,640.
Average Avoca Assessed Value
$253,798
Average Otoe County Assessed Value
$121,530
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Avoca, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68307 | $137,516 | $183,708 | $253,798 | $394,978 | $492,123 |
Source: Ownwell
Property Tax Bills Across Avoca, Nebraska
In Avoca, located in Otoe County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Avoca, the median home price is $253,798, and the property tax rate is influenced by various factors including local government budgets, school district funding, and public services. Property tax bills can vary significantly. For example, homeowners in the 25th percentile pay around $2,513 annually, while those in the 75th percentile pay approximately $5,454. At the 90th percentile, the tax bill can reach up to $7,019. The highest median tax bill in the area is $3,640, found in the zip code 68307, which is also the lowest median tax bill, indicating a consistent tax environment within this region. Compared to the national median property tax rate of 0.99%, homeowners in Avoca experience a range of tax bills that reflect the assessed value and local tax rate, impacting their overall financial planning and property investment decisions.
Average Avoca Tax Bill
$3,640
Average Otoe County Tax Bill
$2,328
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Avoca, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68307 | $1,827 | $2,513 | $3,640 | $5,454 | $7,019 |
Source: Ownwell