Gering, Nebraska Property Taxes
The median property tax rate in Gering, NE is 1.37%, which is considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Gering at $189,306, the typical annual property tax bill reaches $2,587, slightly below the national median of $2,690. Property taxes in Gering are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Gering's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gering or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gering, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$2,593
Ownwell’s Gering Property Tax Bill Calculator offers a straightforward way for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gering using just two pieces of information. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Gering to provide an estimate of your property tax bill. This valuable tool allows you to anticipate potential tax obligations. For more detailed trends at the neighborhood level, simply scroll down to access localized information. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Gering, Nebraska
Property taxes in Gering, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gering is 1.37%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Gering set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gering estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Gering's effective property tax rate to other counties in Nebraska and the national median. For comparison, the ZIP code 69341 in Gering has the highest median property tax rate of 1.37%, while the same ZIP code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Gering provides valuable insights into the varying tax landscape across Banner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gering Tax Rate
1.37%
Average Banner County Tax Rate
1.37%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gering, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69341 | 1.26% | 1.36% | 1.37% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Gering, Nebraska
In Gering, Nebraska, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Banner County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Gering, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in Gering is $189,306, with tax bills ranging from $1,490 at the 25th percentile to $4,525 at the 90th percentile. The highest and lowest median tax bills are both $2,587, found in zip code 69341. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Gering helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gering Assessed Value
$189,306
Average Banner County Assessed Value
$144,301
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gering, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69341 | $79,241 | $116,193 | $189,306 | $284,778 | $376,820 |
Source: Ownwell
Property Tax Bills Across Gering, Nebraska
In Gering, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in this area is $189,306. Property tax rates are applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax amount, including property location, home size, and any applicable exemptions or deductions. For homeowners in Gering, the 25th percentile tax bill is approximately $1,490, while the 75th percentile tax bill can reach up to $3,892. At the 90th percentile, homeowners might see tax bills around $4,525. Compared to the national median property tax rate of 0.99%, Gering's property tax rates can vary significantly, impacting homeowners' financial planning and budgeting. The highest and lowest median tax bills in the area are both $2,587, indicating a relatively consistent tax burden across different properties. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Gering Tax Bill
$2,587
Average Banner County Tax Bill
$1,965
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Gering, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69341 | $1,093 | $1,490 | $2,587 | $3,892 | $4,525 |
Source: Ownwell