Morrill, Nebraska Property Taxes
The median property tax rate in Morrill, NE is 1.43%, which is considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Morrill at $187,516, the typical annual property tax bill amounts to $2,548, slightly below the national median of $2,690. Property taxes in Morrill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Morrill'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 Morrill 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
Morrill, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,681
Ownwell’s Morrill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morrill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morrill 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 Morrill, Nebraska
Property taxes in Morrill, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morrill is 1.25%, significantly higher than both the Nebraska state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Morrill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morrill 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 Morrill's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 69358 has the highest median property tax rate of 1.25%, while the same zip code has the lowest median tax rate of 1.25%. Understanding how these cities compare with Morrill provides valuable insights into the varying tax landscape across Sioux County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morrill Tax Rate
1.43%
Average Sioux County Tax Rate
1.02%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morrill, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69358 | 1.01% | 1.25% | 1.43% | 1.45% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Morrill, Nebraska
In Morrill, 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 Sioux 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 Morrill, 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 Morrill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,548, found in zip code 69358.
Average Morrill Assessed Value
$187,516
Average Sioux County Assessed Value
$127,559
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morrill, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69358 | $48,716 | $100,930 | $187,516 | $250,190 | $385,158 |
Source: Ownwell
Property Tax Bills Across Morrill, Nebraska
Property tax bills in Morrill, Nebraska, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. In Morrill, the median home price is $187,516, and property tax bills can vary significantly. For example, homeowners at the 25th percentile pay around $1,382 annually, while those at the 75th percentile see bills closer to $3,463. At the 90th percentile, tax bills can reach up to $4,795. These figures highlight the range of property tax burdens within the city, influenced by factors such as property size, location, and market conditions. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax rates. For homeowners in Morrill, understanding these factors is crucial for financial planning and managing long-term housing costs.
Average Morrill Tax Bill
$2,548
Average Sioux County Tax Bill
$1,454
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Morrill, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69358 | $660 | $1,382 | $2,548 | $3,463 | $4,795 |
Source: Ownwell