South Bend, Nebraska Property Taxes
The median property tax rate in South Bend, NE is 1.51%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $217,266 in South Bend, the typical annual property tax bill amounts to $3,196, surpassing the national median of $2,690. Property taxes in South Bend are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding South Bend's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of South Bend or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Bend, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$3,281
Ownwell’s South Bend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Bend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Bend 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 South Bend, Nebraska
Property taxes in South Bend, Nebraska, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in South Bend is 1.51%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within South Bend set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Bend 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 South Bend's effective property tax rate to other areas in Nebraska and the national median. For comparison, the 68058 zip code has the highest median property tax rate of 1.51%, while the 68048 zip code has the lowest median tax rate of 0.70%. Understanding how these areas compare with South Bend provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Bend Tax Rate
1.51%
Average Cass County Tax Rate
1.72%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Bend, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68048 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
| 68058 | 1.51% | 1.51% | 1.51% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across South Bend, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in South Bend, Nebraska. 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 Cass County Appraisal District 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. 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. In South Bend, the highest median tax bill is $3,200 in zip code 68058, while the lowest is $1,084 in zip code 68048. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average South Bend Assessed Value
$217,266
Average Cass County Assessed Value
$194,901
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Bend, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68048 | $155,246 | $155,246 | $155,246 | $155,246 | $155,246 |
| 68058 | $67,451 | $137,030 | $218,781 | $306,649 | $360,905 |
Source: Ownwell
Property Tax Bills Across South Bend, Nebraska
In South Bend, Cass County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the home's market value. Various factors influence this assessment, including property size, location, and improvements made to the home. The local tax rate is then applied to the assessed value to determine the annual property tax bill. For instance, with a median home price of $217,266, homeowners can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is around $1,943, while at the 75th percentile, it rises to approximately $4,591. The highest median tax bill in the area is $3,200 in the 68058 zip code, contrasting with the lowest median tax bill of $1,084 in the 68048 zip code. These variations underscore the impact of property value and location on tax obligations, ultimately affecting homeowners' annual financial planning.
Average South Bend Tax Bill
$3,196
Average Cass County Tax Bill
$3,260
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across South Bend, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68048 | $1,084 | $1,084 | $1,084 | $1,084 | $1,084 |
| 68058 | $557 | $1,952 | $3,200 | $4,604 | $5,447 |
Source: Ownwell