Gilead, Nebraska Property Taxes
The median property tax rate in Gilead, NE is 1.37%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Gilead, the typical annual property tax bill amounts to $304, significantly less than the national median of $2,690. Property taxes in Gilead are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Gilead's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gilead 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
Gilead, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$441
-$4,621
Ownwell’s Gilead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilead 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 Gilead, Nebraska
Property taxes in Gilead, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilead is 1.37%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Gilead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilead 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 Gilead's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68362 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Gilead provides valuable insights into the varying tax landscape across Thayer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilead Tax Rate
1.37%
Average Thayer County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilead, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68362 | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Gilead, Nebraska
In Gilead, 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 Thayer 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 Gilead, 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 Gilead helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $32,184, with the 25th percentile tax bill at $94 and the 75th percentile at $611. The highest and lowest median tax bills, both at $304, are found in the 68362 zip code.
Average Gilead Assessed Value
$32,184
Average Thayer County Assessed Value
$73,318
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilead, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68362 | $5,675 | $6,921 | $32,184 | $44,276 | $50,620 |
Source: Ownwell
Property Tax Bills Across Gilead, Nebraska
In Gilead, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Gilead, the median home price is $32,184, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $94, while at the 75th percentile, it rises to $611, and at the 90th percentile, it reaches $694. Several factors influence the assessed value, including the property's market value, location, and any improvements made to the home. Compared to the national median property tax rate of 0.99%, Gilead's tax bills reflect the local economic conditions and property values. For homeowners, understanding these factors is crucial as they directly impact their annual financial obligations. The highest and lowest median tax bills in Gilead are both $304, indicating a relatively stable range within the city.
Average Gilead Tax Bill
$304
Average Thayer County Tax Bill
$919
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilead, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68362 | $76 | $94 | $304 | $611 | $694 |
Source: Ownwell