Stromsburg, Nebraska Property Taxes
The median property tax rate in Stromsburg, NE is 1.09%, slightly higher than the national median of 0.99% but significantly lower than the Nebraska state median of 1.75%. With a median home value of $132,114 in Stromsburg, the typical annual property tax bill amounts to $1,439, which is below the national median of $2,690. Property taxes in Stromsburg are calculated based on the assessed value, generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stromsburg'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 Stromsburg or another part of York County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stromsburg, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,440
Ownwell’s Stromsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stromsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stromsburg 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 Stromsburg, Nebraska
Property taxes in Stromsburg, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stromsburg is 1.09%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Stromsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stromsburg 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 Stromsburg's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68666 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Stromsburg 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 Stromsburg Tax Rate
1.09%
Average York County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stromsburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68666 | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Stromsburg, Nebraska
In Stromsburg, 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 Stromsburg, 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 Stromsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68666 in Stromsburg has both the highest and lowest median tax bill at $1,439, which is above the national median property tax rate of 0.99%.
Average Stromsburg Assessed Value
$132,114
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 Stromsburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68666 | $132,114 | $132,114 | $132,114 | $132,114 | $132,114 |
Source: Ownwell
Property Tax Bills Across Stromsburg, Nebraska
In Stromsburg, located in York County, NE, property tax bills are calculated based on the assessed value of a home. This assessed value is a percentage of the property's market value, which is determined by the county assessor. The median home price in Stromsburg is $132,114. Property tax rates are applied to this assessed value to determine the annual tax bill. In Stromsburg, the property tax rate is relatively high compared to the national median property tax rate of 0.99%. Homeowners in this city can expect to pay around $1,439 annually, which is consistent across various percentiles including the 25th, 75th, and 90th percentiles. This uniformity in tax bills suggests a stable and predictable tax environment for homeowners. High property taxes can significantly impact homeowners by increasing the overall cost of homeownership. It is essential for potential buyers to consider these taxes when budgeting for a new home, as they can affect monthly mortgage payments and long-term financial planning.
Average Stromsburg Tax Bill
$1,439
Average York County Tax Bill
$1,911
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Stromsburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68666 | $1,439 | $1,439 | $1,439 | $1,439 | $1,439 |
Source: Ownwell