Colon, Nebraska Property Taxes
The median property tax rate in Colon, NE is 1.43%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Colon, the typical annual property tax bill reaches $3,298, exceeding the national median of $2,690. Property taxes in Colon 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 Colon'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 Colon 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
Colon, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$3,197
Ownwell’s Colon Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Colon with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Colon to provide an estimated property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you plan your finances better. For those interested in more localized insights, additional neighborhood-level information is available below. Your property’s assessed value is determined by Saunders County for tax calculations and considers any applicable exemptions.
Property Tax Rates Across Colon, Nebraska
Property taxes in Colon, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Colon is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Colon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colon 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 Colon's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68018 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Colon provides valuable insights into the varying tax landscape across Saunders County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colon Tax Rate
1.43%
Average Saunders County Tax Rate
1.77%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colon, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68018 | 1.33% | 1.41% | 1.43% | 1.77% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Colon, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Colon, 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 Saunders 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 Colon, 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 median home price in Colon is $223,574, with property tax bills ranging from $1,964 at the 25th percentile to $7,988 at the 90th percentile. The highest and lowest median tax bills are both $3,298 in zip code 68018. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Colon Assessed Value
$223,574
Average Saunders County Assessed Value
$199,000
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colon, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68018 | $73,290 | $125,364 | $223,574 | $371,294 | $555,477 |
Source: Ownwell
Property Tax Bills Across Colon, Nebraska
In Colon, located in Saunders County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $223,574, homeowners can expect their tax bills to vary significantly depending on their specific property assessments and applicable exemptions. Tax bills in Colon can range widely, with the 25th percentile of tax bills at $1,964 and the 75th percentile reaching up to $5,223. At the higher end, the 90th percentile tax bill can be as much as $7,988. These figures highlight the variability in property tax burdens among homeowners in the area. Notably, the highest median tax bill in Saunders County is $3,298, found in the 68018 zip code. Given that the national median property tax rate is 0.99%, homeowners in Colon should be mindful of how local assessments and tax rates compare to national standards, potentially influencing their financial planning and property investment decisions.
Average Colon Tax Bill
$3,298
Average Saunders County Tax Bill
$3,382
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Colon, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68018 | $1,182 | $1,964 | $3,298 | $5,223 | $7,988 |
Source: Ownwell