Bloomington, Franklin County, Nebraska Property Taxes
Median Bloomington, NE effective property tax rate: 1.96%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Bloomington, NE home value: $23,715
Median annual Bloomington, NE tax bill: $441, $1,959 lower than the national median property tax bill of $2,400.
How are property taxes in Franklin calculated?
Property taxes in Bloomington, 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 Bloomington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bloomington, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bloomington, Franklin County, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.96%
Estimate Property Tax Bill
$465
$431
Property Tax Rates Across Bloomington, Franklin County, Nebraska
Local government entities have the authority to set property tax rates, leading to significant variations within a state. Each year, counties estimate their budgetary needs to deliver essential services and then divide this figure by the total assessed value of all taxable properties in their jurisdiction. This process determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core methodology used annually.
In Bloomington, situated in Franklin County, the effective property tax rate presents an interesting comparison to other cities in Nebraska, as well as the median property tax rates in both the state and the U.S. Nebraska's median property tax rate of 1.96% is notably higher than the national median of 1.02%, reflecting the state's reliance on property taxes for funding local services. This rate results in a median property tax bill that surpasses the national median of $2,400. Understanding these rates can offer valuable insights into the fiscal landscape of Nebraska and help property owners make informed decisions about appealing their property tax assessments.
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 Bloomington Tax Rate
1.96%
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 Franklin County Tax Rate
1.73%
Median Effective Nebraska Tax Rate
1.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bloomington, Franklin County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68929 | 1.41% | 1.46% | 1.96% | 1.96% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Bloomington, Franklin County, Nebraska
When examining property taxes in Bloomington, 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 Franklin 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 Franklin 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 Bloomington. For example, the median home price in Bloomington is $23,715, with tax bills ranging significantly across the county. Zip code 68929 has the highest median home price at $23,715.
Property Tax Assessment Values Across Bloomington, Franklin County, Nebraska
Source: Ownwell
$19,000
$136,041
$253,082
Median Bloomington Market Value
$23,715
Median Franklin County Market Value
$50,605
Median Nebraska Market Value
$182,439
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bloomington, Franklin County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68929 | $1,670 | $7,885 | $23,715 | $84,500 | $289,410 |
Source: Ownwell
Property Tax Bills Across Bloomington, Franklin County, Nebraska
Median Bloomington Tax Bill
$441
Median Franklin County Tax Bill
$872
Median Nebraska Tax Bill
$3,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Bloomington, Franklin County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68929 | $32 | $134 | $441 | $1,307 | $4,298 |
Source: Ownwell