Sidney, Nebraska Property Taxes
The median property tax rate in Sidney, NE is 2.32%, significantly higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in Sidney at $94,320, the typical annual property tax bill reaches $2,076, which is below the national median of $2,690. Property taxes in Sidney 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 Sidney'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 Sidney 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
Sidney, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.32%
Estimate Property Tax Bill
$2,188
Ownwell’s Sidney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sidney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sidney 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 Sidney, Nebraska
Property taxes in Sidney, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sidney is 1.69%, significantly higher than both the Nebraska state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Sidney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sidney 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 Sidney's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69162 zip code has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Sidney provides valuable insights into the varying tax landscape across Cheyenne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sidney Tax Rate
2.32%
Average Cheyenne County Tax Rate
2.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sidney, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69162 | 1.72% | 2.32% | 2.32% | 2.32% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Sidney, Nebraska
In Sidney, 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 Cheyenne 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 Sidney, 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 Sidney is $94,320, with tax bills ranging from $1,214 at the 25th percentile to $5,121 at the 90th percentile. The highest and lowest median tax bills are both $2,076 in the 69162 zip code. 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 Sidney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sidney Assessed Value
$94,320
Average Cheyenne County Assessed Value
$91,196
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sidney, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69162 | $33,964 | $57,389 | $94,320 | $152,820 | $239,547 |
Source: Ownwell
Property Tax Bills Across Sidney, Nebraska
In Sidney, Cheyenne 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 a percentage of the market value of the property. For example, with a median home price of $94,320, homeowners can expect their tax bill to vary significantly. Factors such as the property's location within the county, its size, and any improvements made to the property can influence the assessed value. In Sidney, the tax bill at the 25th percentile is approximately $1,214, while at the 75th percentile, it rises to about $3,302. The highest median tax bill recorded in the area is $2,076, reflecting the variability within zip code 69162. This variability in tax bills can have a considerable impact on homeowners, affecting their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, the rates in Sidney can lead to a wide range of tax obligations depending on individual property assessments.
Average Sidney Tax Bill
$2,076
Average Cheyenne County Tax Bill
$1,857
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Sidney, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69162 | $672 | $1,214 | $2,076 | $3,302 | $5,121 |
Source: Ownwell