Genoa, Nance County, Nebraska Property Taxes
Median Genoa, NE effective property tax rate: 1.73%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Genoa, NE home value: $109,965
Median annual Genoa, NE tax bill: $1,689, $711 lower than the national median property tax bill of $2,400.
How are property taxes in Nance County calculated?
Property taxes in Genoa, 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 Genoa’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Genoa, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Genoa, Nance County, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.73%
Estimate Property Tax Bill
$1,902
$1,765
Property Tax Rates Across Genoa, Nance 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 Genoa Tax Rate
1.73%
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 Nance County Tax Rate
1.73%
Median Effective Nebraska Tax Rate
1.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Genoa, Nance County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68640 | 1.19% | 1.20% | 1.73% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Genoa, Nance County, Nebraska
When examining property taxes in Genoa, 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 Nance 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 Nance 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 Genoa. For example, the median home price in Genoa is $109,965, with tax bills ranging significantly across the county. Zip code 68640 has the highest median home price at $109,965.
Property Tax Assessment Values Across Genoa, Nance County, Nebraska
Source: Ownwell
$42,050
$217,848
$393,645
Median Genoa Market Value
$109,965
Median Nance County Market Value
$104,025
Median Nebraska Market Value
$182,439
Median United States Market Value
$235,294
Property Tax Assessment Values Across Genoa, Nance County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68640 | $25,352 | $58,110 | $109,965 | $200,041 | $390,625 |
Source: Ownwell
Property Tax Bills Across Genoa, Nance County, Nebraska
In Genoa, located in Nance County, NE, property tax bills are calculated based on the assessed value of a home. The median home price in the area is $109,965, which influences the property tax bill. The tax bill is determined by multiplying the assessed value by the local tax rate. Factors such as local government budgets, school funding needs, and public services contribute to the tax rate, ultimately affecting homeowners' bills. In Genoa, the median property tax bill is $1,689, which is below the national median of $2,400. However, some homeowners in the area may experience higher bills, with the 75th percentile reaching $2,875 and the 90th percentile at $5,125.
Ownwell can assist homeowners in Genoa by reviewing their property assessments and identifying potential discrepancies that could lead to overpayment. By appealing these assessments, Ownwell helps reduce the property tax burden, ensuring homeowners pay only their fair share. With expert guidance, homeowners can navigate the complex tax landscape and potentially achieve significant savings.
Median Genoa Tax Bill
$1,689
Median Nance County Tax Bill
$1,688
Median Nebraska Tax Bill
$3,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Genoa, Nance County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68640 | $322 | $878 | $1,689 | $2,875 | $5,125 |
Source: Ownwell