Grafton, Nebraska Property Taxes
The median property tax rate in Grafton, NE is 1.01%, slightly higher than the national median of 0.99% but significantly lower than Nebraska's state median of 1.75%. With a median home value of $282,789 in Grafton, the typical annual property tax bill reaches $2,863, surpassing the national median of $2,690. Property taxes in Grafton are based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Grafton'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 Grafton 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
Grafton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$2,856
Ownwell’s Grafton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grafton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grafton 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 Grafton, Nebraska
Property taxes in Grafton, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grafton is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Grafton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grafton 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 Grafton's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68365 has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Grafton provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grafton Tax Rate
1.01%
Average York County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grafton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68365 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Grafton, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Grafton, Nebraska. 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 York 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 Grafton, 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. The median home price in Grafton is $282,789, with the highest and lowest median tax bills both recorded at $2,863 in the 68365 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grafton Assessed Value
$282,789
Average York County Assessed Value
$120,076
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grafton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68365 | $282,789 | $282,789 | $282,789 | $282,789 | $282,789 |
Source: Ownwell
Property Tax Bills Across Grafton, Nebraska
In Grafton, located in York County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates various factors such as the property's market value, location, and condition. Once the assessed value is established, it is multiplied by the local property tax rate to determine the tax bill. For instance, with a median home price of $282,789, homeowners can expect their tax bills to fall around $2,863, which is consistent across the 25th, 75th, and 90th percentiles. This uniform tax bill highlights a relatively stable property tax environment in Grafton. Compared to the national median property tax rate of 0.99%, Grafton's rate results in a comparable tax burden for homeowners. Understanding how property taxes are calculated can help homeowners in Grafton better anticipate their annual expenses and plan their finances accordingly. The stability in tax bills also provides a predictable financial outlook for property owners in the area.
Average Grafton Tax Bill
$2,863
Average York County Tax Bill
$1,911
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Grafton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68365 | $2,863 | $2,863 | $2,863 | $2,863 | $2,863 |
Source: Ownwell