Mahaska, Nebraska Property Taxes
The median property tax rate in Mahaska, NE is 1.22%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $210,272, the typical annual property tax bill in Mahaska is $2,557, slightly below the national median of $2,690. Property taxes here are based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Mahaska'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 Mahaska or another part of Thayer County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mahaska, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$2,565
-$26,885
Ownwell’s Mahaska Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mahaska with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mahaska 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 Mahaska, Nebraska
Property taxes in Mahaska, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mahaska is 1.08%, higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Mahaska set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mahaska 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 Mahaska's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 66955 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Mahaska 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 Mahaska Tax Rate
1.22%
Average Thayer County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mahaska, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66955 | 1.22% | 1.22% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Mahaska, Nebraska
In Mahaska, 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 local 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 Mahaska, 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 Mahaska helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 66955 has the highest and lowest median tax bill at $1,950, offering a unique insight into the local tax landscape.
Average Mahaska Assessed Value
$210,272
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 Mahaska, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66955 | $160,294 | $160,294 | $160,294 | $160,294 | $160,294 |
Source: Ownwell
Property Tax Bills Across Mahaska, Nebraska
In Mahaska, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is a percentage of the market value of the home. For example, if the median home price is $210,272, the assessed value will be a fraction of this amount, depending on local regulations. Once the assessed value is established, the tax rate, set by local taxing authorities, is applied to determine the annual tax bill. Homeowners in Mahaska can expect their property taxes to vary significantly. The 25th percentile tax bill is around $2,402, while the 75th percentile reaches up to $5,890, and the 90th percentile can be as high as $11,881. These figures indicate a broad range of tax liabilities, reflecting differences in property values and assessment practices. Compared to the national median property tax rate of 0.99%, Mahaska's tax bills can be relatively high, impacting homeowners' annual financial planning and overall cost of homeownership.
Average Mahaska Tax Bill
$2,557
Average Thayer County Tax Bill
$919
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Mahaska, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66955 | $1,950 | $1,950 | $1,950 | $1,950 | $1,950 |
Source: Ownwell