Valley, Nebraska Property Taxes
The median property tax rate in Valley, NE is 1.51%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $165,255 in Valley, the typical annual property tax bill amounts to $2,520, slightly below the national median of $2,690. Property taxes in Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Valley'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 Valley or another part of Saunders County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Valley, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$2,495
Ownwell’s Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley 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 Valley, Nebraska
Property taxes in Valley, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valley is 1.51%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley 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 Valley's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68064 zip code has the highest median property tax rate of 1.51%, while the 68064 zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Valley 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 Valley Tax Rate
1.51%
Average Saunders County Tax Rate
1.77%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valley, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68064 | 1.50% | 1.50% | 1.51% | 1.54% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Valley, Nebraska
In Valley, 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 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 Valley, 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 Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Saunders County is $2,520 in the 68064 zip code, while the lowest median tax bill is also $2,520 in the same zip code.
Average Valley Assessed Value
$165,255
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 Valley, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68064 | $24,137 | $76,586 | $165,255 | $258,858 | $514,236 |
Source: Ownwell
Property Tax Bills Across Valley, Nebraska
In Valley, Saunders County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $165,255, homeowners can expect varying tax bills depending on their home's assessed value and specific circumstances. Several factors influence the property tax bill, including property size, location, and any applicable exemptions or deductions. In Valley, the tax bill at the 25th percentile is approximately $1,205, while those at the 75th percentile might see bills around $4,224. For homeowners at the 90th percentile, tax bills can reach up to $7,876. These property taxes significantly impact homeowners, affecting their annual expenses and overall cost of living. Comparatively, Valley's property tax rates and bills can be higher than the national median property tax rate of 0.99%, making it essential for homeowners to understand these factors when budgeting for their homes.
Average Valley Tax Bill
$2,520
Average Saunders County Tax Bill
$3,382
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68064 | $489 | $1,205 | $2,520 | $4,224 | $7,876 |
Source: Ownwell