Gresham, Nebraska Property Taxes
The median property tax rate in Gresham, NE is 1.39%, which is higher than the national median of 0.99% but below the Nebraska state median of 1.75%. With the median home value in Gresham at $46,650, the typical annual property tax bill amounts to $641, significantly lower than the national median of $2,690. Property taxes in Gresham are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Gresham'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 Gresham or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gresham, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$648
$602
Ownwell’s Gresham Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Gresham with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Gresham to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular insights, scroll down to find trends at a neighborhood level. Your property’s assessed value, determined by the county for tax calculations, takes into account any applicable exemptions.
Property Tax Rates Across Gresham, Nebraska
Property taxes in Gresham, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gresham is 1.39%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Gresham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gresham 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 Gresham's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68367 zip code has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these cities compare with Gresham 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 Gresham Tax Rate
1.39%
Average York County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gresham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68367 | 0.89% | 1.39% | 1.39% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Gresham, Nebraska
In Gresham, 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 York 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 Gresham, 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 Gresham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Gresham both stand at $641.00 in the 68367 zip code.
Average Gresham Assessed Value
$46,650
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 Gresham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68367 | $12,286 | $19,803 | $46,650 | $83,797 | $147,730 |
Source: Ownwell
Property Tax Bills Across Gresham, Nebraska
In Gresham, located in York County, NE, property tax bills are determined based on the assessed value of a home. The local government assesses the value of each property, which is then multiplied by the tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. Homeowners in Gresham face a median property tax bill of $641, which is significantly lower than the national median property tax rate of 0.99%. For example, homes in the 25th percentile have tax bills around $276, while those in the 75th percentile can expect to pay approximately $1,042. At the 90th percentile, the tax bill rises to about $1,592. These property taxes fund essential local services such as public schools, infrastructure, and emergency services. Consequently, while lower tax bills can be appealing to homeowners, they also reflect the level of funding available for these community services.
Average Gresham Tax Bill
$641
Average York County Tax Bill
$1,911
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Gresham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68367 | $171 | $276 | $641 | $1,042 | $1,592 |
Source: Ownwell