Albion, Boone County, Nebraska Property Taxes
Median Albion, NE effective property tax rate: 1.10%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Albion, NE home value: $196,035
Median annual Albion, NE tax bill: $2,004, $396 lower than the national median property tax bill of $2,400.
How are property taxes in Boone County calculated?
Property taxes in Albion, NE are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Albion’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Albion, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Albion, Boone County, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.1%
Estimate Property Tax Bill
$2,156
$2,001
Property Tax Rates Across Albion, Boone County, Nebraska
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Albion Tax Rate
1.10%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Boone County Tax Rate
1.08%
Median Effective Nebraska Tax Rate
1.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Albion, Boone County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68620 | 0.79% | 0.80% | 1.10% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Albion, Boone County, Nebraska
When examining property taxes in Albion, Nebraska, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Boone County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Boone County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Albion. For example, the median home price in Albion is $196,035, with tax bills ranging significantly across the county. 68620 has the highest median home price at $196,035.
Property Tax Assessment Values Across Albion, Boone County, Nebraska
Source: Ownwell
$99,032
$267,126
$435,220
Median Albion Market Value
$196,035
Median Boone County Market Value
$170,105
Median Nebraska Market Value
$182,439
Median United States Market Value
$235,294
Property Tax Assessment Values Across Albion, Boone County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68620 | $51,085 | $111,585 | $196,035 | $390,260 | $838,600 |
Source: Ownwell
Property Tax Bills Across Albion, Boone County, Nebraska
In Albion, Boone County, NE, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the home's market value, which can fluctuate based on real estate trends. Homeowners in Albion face property tax bills that range significantly. For instance, the tax bill at the 25th percentile is $1,111, while those at the 75th percentile pay around $3,681. The 90th percentile tax bill can reach as high as $6,707. With the highest and lowest median tax bill both at $2,004 in the 68620 zip code, Albion's property tax bills are below the national median of $2,400.
These taxes fund essential community services, but they can also strain homeowners' finances. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions. By analyzing market trends and ensuring accurate assessments, Ownwell can help reduce tax burdens, making homeownership more affordable in Albion.
Median Albion Tax Bill
$2,004
Median Boone County Tax Bill
$1,754
Median Nebraska Tax Bill
$3,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Albion, Boone County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68620 | $468 | $1,111 | $2,004 | $3,681 | $6,707 |
Source: Ownwell