Weeping Water, Nebraska Property Taxes
The median property tax rate in Weeping Water, NE is 2.03%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Weeping Water at $143,454, the typical annual property tax bill reaches $2,683, nearly matching the national median of $2,690. Property taxes in Weeping Water are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Weeping Water'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 Weeping Water 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
Weeping Water, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$2,912
Ownwell’s Weeping Water Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weeping Water with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weeping Water 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 Weeping Water, Nebraska
Property taxes in Weeping Water, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weeping Water is 2.03%, significantly higher than the U.S. national median of 0.99%. Local government entities within Weeping Water set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weeping Water 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 Weeping Water's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68463 has the highest median property tax rate of 2.03%, while the same zip code also has the lowest median tax rate of 2.03%. Understanding how these cities compare with Weeping Water 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 Weeping Water Tax Rate
2.03%
Average Cass County Tax Rate
1.72%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weeping Water, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68463 | 1.58% | 1.63% | 2.03% | 2.03% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Weeping Water, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Weeping Water, 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 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 Weeping Water, 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. Being aware of these valuation processes in Weeping Water helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,683 in zip code 68463, which is also the lowest median tax bill, providing a clear benchmark for homeowners.
Property Tax Assessment Values Across Weeping Water, Nebraska
Source: Ownwell
$118,596
$274,515
$430,434
Average Weeping Water Assessed Value
$143,454
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 Weeping Water, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68463 | $52,356 | $90,761 | $143,454 | $228,320 | $337,000 |
Source: Ownwell
Property Tax Bills Across Weeping Water, Nebraska
Property tax bills in Weeping Water, located in Cass County, NE, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Several factors influence the final tax bill, including property location, property type, and any applicable exemptions or deductions. For homeowners in Weeping Water, the tax burden can vary significantly. The 25th percentile tax bill is $1,547, while the 75th percentile reaches $4,048, indicating a wide range of property values and tax obligations. The 90th percentile tax bill is even higher at $5,965. Compared to the national median property tax rate of 0.99%, homeowners in Weeping Water may experience higher or lower tax rates depending on their specific circumstances. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Understanding how these factors interplay can help homeowners anticipate their financial obligations and plan accordingly.
Average Weeping Water Tax Bill
$2,683
Average Cass County Tax Bill
$3,260
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Weeping Water, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68463 | $397 | $1,547 | $2,683 | $4,048 | $5,965 |
Source: Ownwell