Syracuse, Nebraska Property Taxes
The median property tax rate in Syracuse, NE is 1.92%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Syracuse at $141,805, the typical annual property tax bill reaches $2,491, which is below the national median of $2,690. Property taxes in Syracuse are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Syracuse'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 Syracuse 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
Syracuse, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.92%
Estimate Property Tax Bill
$2,723
Ownwell’s Syracuse Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Syracuse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Syracuse 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 Syracuse, Nebraska
Property taxes in Syracuse, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Syracuse is 1.92%, significantly higher than the U.S. national median of 0.99%. Local government entities within Syracuse set these rates annually, and they can vary significantly across different neighborhoods. Each year, Syracuse 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 Syracuse's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68446 has both the highest and lowest median property tax rate of 1.92%. Understanding how these cities compare with Syracuse 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 Syracuse Tax Rate
1.92%
Average Otoe County Tax Rate
1.92%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Syracuse, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68446 | 1.42% | 1.44% | 1.92% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Syracuse, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Syracuse, Nebraska. 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 Syracuse, 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 Syracuse helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 68446, with a tax bill of $2,491, while the lowest median tax bill is also in the same zip code at $2,491.
Average Syracuse Assessed Value
$141,805
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 Syracuse, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68446 | $42,565 | $89,884 | $142,141 | $217,270 | $349,193 |
Source: Ownwell
Property Tax Bills Across Syracuse, Nebraska
In Syracuse, located in Otoe County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessment reflects the market value of the property. Homeowners in Syracuse experience a range of property tax bills depending on the assessed value of their homes. For instance, the median home price in Syracuse is $141,805. Property tax bills can vary significantly. At the 25th percentile, homeowners might see tax bills around $1,404, while those at the 75th percentile could face bills as high as $3,654. The top 10% of property tax bills can reach up to $5,412. These tax bills are influenced by various factors, including the local tax rate, which is compared to the national median property tax rate of 0.99%. Homeowners with higher assessed property values pay more in taxes, which can impact their overall financial planning and housing affordability. This system ensures that property taxes are proportionate to property values, funding essential public services in the community.
Average Syracuse Tax Bill
$2,491
Average Otoe County Tax Bill
$2,328
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Syracuse, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68446 | $566 | $1,411 | $2,491 | $3,654 | $5,422 |
Source: Ownwell