Petersburg, Nebraska Property Taxes
The median property tax rate in Petersburg, NE is 1.08%, which is higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $178,932 in Petersburg, the typical annual property tax bill amounts to $1,855, significantly below the national median of $2,690. Property taxes in Petersburg are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Petersburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Petersburg or another part of Boone County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Petersburg, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$1,932
Ownwell’s Petersburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Petersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Petersburg to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Petersburg, Nebraska
Property taxes in Petersburg, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Petersburg is 1.08%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Petersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Petersburg 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 Petersburg's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68652 zip code has both the highest and lowest median property tax rate of 1.08%. Understanding how these cities compare with Petersburg provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Petersburg Tax Rate
1.08%
Average Boone County Tax Rate
1.08%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Petersburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68652 | 0.67% | 0.79% | 1.08% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Petersburg, Nebraska
In Petersburg, 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 Boone 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 Petersburg, 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. For instance, the median home price in Petersburg is $178,932, with tax bills ranging significantly. The 25th percentile tax bill is $921, while the 75th percentile reaches $4,916, and the 90th percentile is as high as $7,402. 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 Petersburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Petersburg Assessed Value
$178,932
Average Boone County Assessed Value
$170,105
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Petersburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68652 | $40,443 | $90,462 | $178,932 | $564,770 | $974,922 |
Source: Ownwell
Property Tax Bills Across Petersburg, Nebraska
In Petersburg, located in Boone County, NE, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local assessor's office and is intended to reflect the market value. Once the assessed value is established, the tax rate, expressed as a percentage, is applied to calculate the tax bill. Several factors influence the final tax bill, including the local tax rate and any applicable exemptions or deductions. For example, the median home price in Petersburg is $178,932. Depending on various factors, homeowners could see a tax bill ranging from $921 at the 25th percentile to $7,402 at the 90th percentile. These property taxes play a crucial role in funding local services such as schools, emergency services, and infrastructure. For homeowners, understanding how their property tax bill is calculated can help them manage their finances better and potentially appeal their assessed value if they believe it is incorrect.
Average Petersburg Tax Bill
$1,855
Average Boone County Tax Bill
$1,754
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Petersburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68652 | $393 | $921 | $1,855 | $4,916 | $7,402 |
Source: Ownwell