Gresham, Nebraska Property Taxes
The median property tax rate in Gresham, NE is 1.06%, which is higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $309,069 in Gresham, the typical annual property tax bill amounts to $3,312, surpassing the national median of $2,690. Property taxes in Gresham are calculated based on the tax assessed value, which usually falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Gresham'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 Gresham or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gresham, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$3,276
Ownwell's Gresham Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers an easy way to estimate their annual property taxes in Gresham with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Gresham to provide an estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Gresham, Nebraska
Property taxes in Gresham, Nebraska, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Gresham is 1.06%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Gresham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gresham 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 Gresham's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68367 zip code has both the highest and lowest median property tax rate of 1.06%. Understanding how these cities compare with Gresham provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gresham Tax Rate
1.06%
Average Polk County Tax Rate
1.34%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gresham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68367 | 0.87% | 0.88% | 1.06% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Gresham, Nebraska
In Gresham, 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 Polk 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 Gresham, 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 Gresham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68367 has the highest and lowest median tax bill, both at $3,312, showcasing the uniformity in this region's property tax landscape.
Average Gresham Assessed Value
$309,069
Average Polk County Assessed Value
$118,165
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gresham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68367 | $151,720 | $210,657 | $309,069 | $624,937 | $1,131,018 |
Source: Ownwell
Property Tax Bills Across Gresham, Nebraska
In Gresham, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the home's market value. Various factors influence this value, including the property's size, location, and any improvements made. Once the assessed value is established, the local tax rate is applied to determine the annual property tax bill. Homeowners in Gresham can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $2,132, while the 75th percentile tax bill can reach up to $5,610. At the higher end, the 90th percentile tax bill is approximately $9,772. These figures highlight the range of property tax obligations in the area and can impact homeowners' financial planning and overall cost of living. Compared to the national median property tax rate of 0.99%, Gresham's rates reflect the local economic conditions and municipal funding needs.
Average Gresham Tax Bill
$3,312
Average Polk County Tax Bill
$1,628
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Gresham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68367 | $1,639 | $2,132 | $3,312 | $5,610 | $9,772 |
Source: Ownwell