Norfolk, Nebraska seller net sheet calculator
Closing costs, transfer taxes and who pays what when selling a home in Norfolk, Nebraska (Madison County). The calculator applies the local rates for you.
- Median home value
- $199,100
- Transfer tax on $200,000
- $664
- Seller costs on $200,000
- About $11,417
- Median property tax bill
- $2,728 a year
- County
- Madison County
- Population
- 26,162
Norfolk transfer tax
On a $200,000 sale in Norfolk, transfer taxes come to $664: Documentary stamp tax. By custom the seller pays it.
| Tax | Rate | Paid by | On $200,000 |
|---|---|---|---|
| Documentary stamp tax | $3.32 per $1,000 | Seller | $664 |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $200,000 local median value | $664 | $0 | $664 |
| $250,000 | $830 | $0 | $830 |
| $500,000 | $1,660 | $0 | $1,660 |
| $1,000,000 | $3,320 | $0 | $3,320 |
Example Norfolk seller net sheet
A $200,000 sale, close to Norfolk's median home value of $199,100, with a 5% commission and a $120,000 mortgage payoff. Seller costs come to about $11,417, or 5.7% of the price.
| Line | Seller |
|---|---|
| Sale price | $200,000 |
| First mortgage payoff | −$120,000 |
| Real estate commission (5%) | −$10,000 |
| Documentary stamp tax | −$664 |
| Owner's title insurance policy | −$387.50 |
| Settlement / closing fee | −$300 |
| Release / satisfaction recording | −$20 |
| Wire / courier / payoff processing | −$45 |
| Estimated net before property tax prorations | $68,583.50 |
Who pays what in Norfolk
Norfolk closings follow Madison County customs. In Madison County, the buyer and seller customarily split the owner's title policy. The settlement fee is customarily split between buyer and seller. Closings are usually handled by a title company.
Property taxes in Norfolk
The median property tax bill for homeowners in Norfolk is $2,728 a year, about 1.37% of the median home value of $199,100 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Taxes are paid the following year (halves Apr 1 / Aug 1); seller credits buyer for prior-year unpaid taxes plus Jan 1 through closing.
Rates verified 2026-09-29. Home value and tax bill: Census Bureau American Community Survey, 2019–2023. A net sheet is an estimate; final figures come from the title company.
Norfolk seller questions
How much is the transfer tax in Norfolk, Nebraska?
On a $200,000 sale in Norfolk, transfer taxes come to $664: Documentary stamp tax. By custom the seller pays it.
How much are seller closing costs in Norfolk?
On a $200,000 sale, close to the median home value in Norfolk, with a 5% commission, estimated seller costs are about $11,417 (5.7% of the price). Without commission they are about $1,417. The loan payoff and property tax proration change the final number.
What county is Norfolk in, and does it matter at closing?
Norfolk is in Madison County, Nebraska. County and state rules set the transfer taxes and recording fees, and local custom decides who pays for title and closing. In Madison County, the buyer and seller customarily split the owner's title policy. The settlement fee is customarily split between buyer and seller.
How much are property taxes in Norfolk?
The median property tax bill for homeowners in Norfolk is $2,728 a year, about 1.37% of the median home value of $199,100 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Taxes are paid the following year (halves Apr 1 / Aug 1); seller credits buyer for prior-year unpaid taxes plus Jan 1 through closing.
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