Trumbull, Clay County, Nebraska Property Taxes
Median Trumbull, NE effective property tax rate: 1.57%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Trumbull, NE home value: $116,162
Median annual Trumbull, NE tax bill: $1,792, $608 lower than the national median property tax bill of $2,400.
How are property taxes in Clay calculated?
Property taxes in Trumbull, 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 Trumbull’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Trumbull, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Trumbull, Clay County, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.57%
Estimate Property Tax Bill
$1,824
$1,692
Property Tax Rates Across Trumbull, Clay County, Nebraska
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
In Trumbull, located in county 31035, Nebraska, the effective property tax rate aligns with the highest and lowest median tax rates in the state, which are both 1.57%. This rate is notably higher than the national median property tax rate of 1.02%, indicating that property owners in Trumbull may experience a higher tax burden compared to many other areas across the country.
Understanding these rates is crucial for property owners, as they directly impact annual tax bills. With the national median property tax bill at $2,400, those in Trumbull should be prepared for potentially higher expenses, reflecting the higher local tax rate. This comparison highlights the importance of being informed about property tax rates in your area.
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 Trumbull Tax Rate
1.57%
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 Clay County Tax Rate
1.67%
Median Effective Nebraska Tax Rate
1.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Trumbull, Clay County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68980 | 1.29% | 1.30% | 1.57% | 1.57% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Trumbull, Clay County, Nebraska
When examining property taxes in Trumbull, 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 Clay County Assessor 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 Clay County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Trumbull. For example, the median home price in Trumbull is $116,162, with tax bills ranging significantly across the county. Zip code 68980 has the highest median home price at $116,162.
Property Tax Assessment Values Across Trumbull, Clay County, Nebraska
Source: Ownwell
$15,670
$94,923
$174,175
Median Trumbull Market Value
$116,162
Median Clay County Market Value
$85,465
Median Nebraska Market Value
$182,439
Median United States Market Value
$235,294
Property Tax Assessment Values Across Trumbull, Clay County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68980 | $20,699 | $60,012 | $116,162 | $218,726 | $375,562 |
Source: Ownwell
Property Tax Bills Across Trumbull, Clay County, Nebraska
Median Trumbull Tax Bill
$1,792
Median Clay County Tax Bill
$1,360
Median Nebraska Tax Bill
$3,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Trumbull, Clay County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68980 | $174 | $814 | $1,792 | $2,851 | $5,262 |
Source: Ownwell