Kilgore, Nebraska Property Taxes
The median property tax rate in Kilgore, NE is 1.12%, slightly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Kilgore at $48,408, the typical annual property tax bill is $564, which is significantly below the national median of $2,690. Property taxes in Kilgore are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Kilgore'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 Kilgore 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
Kilgore, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$542
Ownwell’s Kilgore Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Kilgore with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Kilgore to provide an estimate of 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 Kilgore, Nebraska
Property taxes in Kilgore, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kilgore is 1.12%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Kilgore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kilgore 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 Kilgore's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69216 zip code has both the highest and lowest median property tax rate of 1.12%. Understanding how these areas compare with Kilgore provides valuable insights into the varying tax landscape across Cherry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kilgore Tax Rate
1.12%
Average Cherry County Tax Rate
0.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kilgore, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69216 | 1.01% | 1.11% | 1.12% | 1.16% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Kilgore, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kilgore, 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 Cherry 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. In Kilgore, 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 Kilgore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $564 in zip code 69216, while the lowest is also $564 in the same zip code.
Average Kilgore Assessed Value
$48,408
Average Cherry County Assessed Value
$139,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kilgore, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69216 | $4,539 | $20,948 | $48,408 | $91,176 | $180,769 |
Source: Ownwell
Property Tax Bills Across Kilgore, Nebraska
In Kilgore, located in Cherry County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value determined by the county assessor. For Kilgore, the median home price is $48,408, which significantly influences the tax bill. Factors such as property size, location, and improvements can also impact the assessed value. The property tax rate in Kilgore is compared to the national median property tax rate of 0.99%. Homeowners in Kilgore can expect their tax bills to vary widely. For instance, the 25th percentile tax bill is around $199, while the 75th percentile tax bill reaches $1,141. The 90th percentile tax bill can go as high as $2,154, reflecting the diverse range of property values and tax obligations in the area. These property taxes fund essential local services like schools, public safety, and infrastructure, directly affecting the quality of life for homeowners in Kilgore.
Average Kilgore Tax Bill
$564
Average Cherry County Tax Bill
$1,288
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Kilgore, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69216 | $52 | $199 | $564 | $1,141 | $2,154 |
Source: Ownwell