Example of Kimball County Property Tax Calculation
Kimball County calculates property taxes based on the assessed value of the property. For example, if a home is assessed at $100,000, the property tax rate of 2% would result in an annual tax bill of $2,000. This calculation is based on the county's mill levy rate, which is determined by local government officials. Homeowners can appeal their property assessment if they believe it is incorrect or unfair. Overall, property taxes help fund local services, such as schools, roads, and emergency services.
If you want appeal your property tax assessment - contact your local tax assessor.
Kimball County Property Tax Rates
Here is a formatted table listing the Kimball County Property Tax rates in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General Fund | $0.380 |
| Roads | $0.210 |
| School District | $1.070 |
| City of Kimball | $0.497 |
| Village of Dix | $0.813 |
These rates are subject to change and may vary based on the assessed value of the property. It is recommended to consult a tax professional for accurate and up-to-date information on property taxes in Kimball County.
Who sets property tax rates in Kimball County ?
Who sets property tax rates in Kimball County?
The Kimball County Board of Commissioners is responsible for setting property tax rates in Kimball County. They typically do this annually, typically in the fall, after assessing the county's budget and financial needs.
When are property tax rates set in Kimball County?
As mentioned earlier, property tax rates are usually set by the Kimball County Board of Commissioners in the fall. This is to ensure that the county can collect taxes for the upcoming year and allocate funds accordingly.
Summary
- Property tax rates in Kimball County are set by the Kimball County Board of Commissioners.
- The rates are typically set annually in the fall after assessing the county's budget and financial needs.
Homestead exemptions in Kimball County ?
In Kimball County, Nebraska, there are several Homestead exemptions and deductions that homeowners may be eligible for. To help you navigate these, we've created a table with columns for exemption, eligibility, amount, and notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead exemption | Primary residence | $3,000 | Applies to all homesteads |
| Personal property exemption | Primary residence | $3,000 | Applies to personal property |
| Military exemption | Military service member or veteran | Varies | Varies based on service |
| Disabled veterans exemption | Disabled veteran or surviving spouse | Varies | Varies based on disability |
| Age and disability exemption | Age 65+ or disabled | $40,000 | Applies to real property |
| Agricultural land valuation | Agricultural land | Varies | Based on use |
It's important to note that eligibility for these exemptions and deductions may vary based on individual circumstances. Homeowners should contact the Kimball County Assessor's office for more information and to determine their eligibility.
By taking advantage of these Homestead exemptions and deductions, homeowners in Kimball County can potentially save money on their property taxes.
When is Kimball County Property Tax due ?
Kimball County Property Tax is typically due on December 31st of each year. However, taxpayers have the option to pay their property taxes in two installments: the first half is due on December 31st, and the second half is due on June 30th of the following year.
There are several payment methods available for taxpayers to use, including:
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In-person payments: Payments can be made in person at the Kimball County Treasurer's office located at 114 E 3rd Street, Kimball, NE 69145. The office is open from 8:00 am to 4:00 pm, Monday through Friday.
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Mail payments: Payments can be mailed to the Kimball County Treasurer's office at P.O. Box 307, Kimball, NE 69145. Payments must be postmarked by the due date to avoid penalties.
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Online payments: Payments can be made online using a credit card, debit card, or e-check through the Kimball County Treasurer's website. There is a convenience fee for this service.
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Drop-box payments: Payments can be dropped off at the secure drop-box located outside the Kimball County Courthouse at 114 E 3rd Street, Kimball, NE 69145. Payments must be placed in an envelope and clearly marked with the taxpayer's name, address, and parcel number.
It is important to note that failure to pay property taxes on time can result in penalties and interest charges. Therefore, taxpayers are encouraged to make their payments on or before the due date to avoid these additional fees.
If you have more questions - contact your local tax collector.
How is Kimball County Property Tax penalty calculated ?
Kimball County Property Tax Penalty Calculation:
Kimball County imposes a penalty on late property tax payments, and it is calculated based on the delinquent tax amount, the time duration of delinquency, and the applicable interest rate.
Here's the breakdown of the penalty calculation process:
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Delinquent Tax Amount: Kimball County calculates the penalty based on the amount of delinquent taxes owed on the property.
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Time Duration: Kimball County determines the penalty amount based on the number of months the taxes are delinquent. The penalty is higher for properties that have been delinquent for a longer period.
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Interest Rate: The applicable interest rate is determined by state law and varies each year. Kimball County adds this interest rate to the penalty amount to calculate the final amount due.
Here's an example to help understand how the penalty is calculated:
Let's say a property owner in Kimball County owes $10,000 in property taxes for the year 2021. The due date for payment is October 31, 2021. However, the property owner was unable to make the payment on time and paid the full amount on January 31, 2022.
Based on the penalty calculation process mentioned above, here's how the penalty would be calculated:
- Delinquent Tax Amount: $10,000
- Time Duration: 3 Months (November, December, January)
- Interest Rate: 14% (as per the state law for 2021)
Penalty Amount = Delinquent Tax Amount x Time Duration x Interest Rate Penalty Amount = $10,000 x 3 x 14% Penalty Amount = $4,200
Therefore, the total amount due including the penalty would be $14,200 ($10,000 + $4,200).
In conclusion, Kimball County imposes a penalty on late property tax payments based on the delinquent tax amount, time duration, and applicable interest rate. Property owners in Kimball County should make sure to pay their property taxes on time to avoid any unnecessary penalties.
We recommend contacting the Kimball County Tax Office or a local tax professional for the most up-to-date and accurate information.