Gresham, Nebraska Property Taxes
The median property tax rate in Gresham, NE is 0.95%, slightly lower than the national median of 0.99% and significantly below the Nebraska state median of 1.75%. With the median home value in Gresham at $395,382, the typical annual property tax bill reaches $4,908, which is substantially higher than the national median of $2,690. Property taxes in Gresham are calculated based on the assessed value, which often falls below the market value due to various exemptions like 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 the city, 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
0.95%
Estimate Property Tax Bill
$3,756
Ownwell’s Gresham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gresham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gresham 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 Gresham, Nebraska
Property taxes in Gresham, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gresham is 0.95%, which is slightly lower than 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 zip code 68367 has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Gresham provides valuable insights into the varying tax landscape across Seward County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gresham Tax Rate
0.95%
Average Seward County Tax Rate
1.59%
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 | 0.94% | 0.94% | 0.95% | 0.96% | 1.31% |
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 Seward 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 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 highest median tax bill in the area is $4,908 in zip code 68367, which is also the lowest median tax bill.
Average Gresham Assessed Value
$395,382
Average Seward County Assessed Value
$185,126
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 | $142,007 | $307,796 | $395,382 | $1,064,668 | $1,161,440 |
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 Seward County Assessor's Office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. Several factors affect the tax bill, including changes in the market value of homes, local government budgets, and voter-approved measures for public services like schools and infrastructure. Homeowners in Gresham experience varying tax bills depending on their property's assessed value. For example, the tax bill at the 25th percentile is $2,911, while at the 75th percentile, it rises to $9,965. The highest median tax bill in the area is $4,908. These variations can significantly impact homeowners' finances, making it crucial for property owners to understand how their tax bill is calculated and to explore potential exemptions or appeals if they believe their property is over-assessed.
Average Gresham Tax Bill
$4,908
Average Seward County Tax Bill
$2,810
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 | $1,601 | $2,911 | $4,908 | $9,965 | $10,904 |
Source: Ownwell