Macy, Nebraska Property Taxes
The median property tax rate in Macy, NE is 1.65%, which is notably higher than the national median of 0.99% but slightly below the Nebraska state median of 1.75%. With the median home value in Macy, the typical annual property tax bill amounts to $349, which is significantly lower than the national median of $2,690. Property taxes in Macy are determined based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Macy's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in Macy or investing in the area, gaining a comprehensive understanding of the local property tax system is essential for financial planning and investment success.
Last Updated June 14, 2024
Macy, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$339
$315
Ownwell’s MACY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MACY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MACY 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 Macy, Nebraska
Property taxes in Macy, Nebraska, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Macy stands at 1.65%, which is significantly higher than the U.S. national median of 0.99%. Local government entities in Macy set these rates annually, and they can vary across different neighborhoods. Each year, Macy 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 Macy's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68039 zip code has the highest median property tax rate of 1.65%, while the same zip code also has the lowest median tax rate of 1.65%. Understanding how these areas compare with Macy provides valuable insights into the varying tax landscape across Thurston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Macy Tax Rate
1.65%
Average Thurston County Tax Rate
1.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Macy, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68039 | 1.55% | 1.65% | 1.65% | 1.65% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Macy, Nebraska
In Macy, 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 Thurston County Assessor 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 Macy, 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. For example, the median home price in Macy is $20,558, with tax bills ranging from $152 at the 25th percentile to $4,915 at the 90th percentile. The highest and lowest median tax bills are both $349, found in zip code 68039. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Macy Assessed Value
$20,558
Average Thurston County Assessed Value
$86,240
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Macy, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68039 | $3,245 | $9,124 | $20,558 | $47,569 | $246,193 |
Source: Ownwell
Property Tax Bills Across Macy, Nebraska
In Macy, located in Thurston County, NE, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local assessors and reflects a percentage of the property's market value. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Macy face varying tax bills depending on the value of their property. For instance, the tax bill at the 25th percentile is $152, while at the 75th percentile, it jumps to $880, and at the 90th percentile, it can reach as high as $4915. The median home price in Macy is $20,558, which helps put these tax bills into perspective. Compared to the national median property tax rate of 0.99%, the rates in Macy can significantly impact homeowners, particularly those with properties assessed at higher values. Understanding these factors is crucial for homeowners as they plan their finances and consider the long-term costs of homeownership in Macy.
Average Macy Tax Bill
$349
Average Thurston County Tax Bill
$1,554
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Macy, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68039 | $58 | $152 | $349 | $880 | $4,915 |
Source: Ownwell