Westerville, Nebraska Property Taxes
The median property tax rate in Westerville, NE is 1.16%, 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 $91,234 in Westerville, the typical annual property tax bill amounts to $953, falling below the national median of $2,690. Property taxes in Westerville are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Westerville'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 Westerville or another part of Custer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westerville, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,058
Ownwell’s Westerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westerville 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 Westerville, Nebraska
Property taxes in Westerville, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westerville is 1.16%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Westerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westerville 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 Westerville's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68881 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these areas compare with Westerville provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Westerville Tax Rate
1.16%
Average Custer County Tax Rate
1.38%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westerville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68881 | 1.14% | 1.14% | 1.16% | 1.16% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Westerville, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Westerville, 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 Custer 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 Westerville, 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. The median home price in Westerville is $91,234, with tax bills ranging from $434 at the 25th percentile to $11,683 at the 90th percentile. The zip code 68881 holds both the highest and lowest median tax bills at $953. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Westerville Assessed Value
$91,234
Average Custer County Assessed Value
$99,711
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Westerville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68881 | $11,622 | $47,187 | $91,234 | $413,921 | $963,577 |
Source: Ownwell
Property Tax Bills Across Westerville, Nebraska
In Westerville, Custer County, NE, property tax bills are calculated based on the assessed value of a property. The local tax assessor determines the assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners, the median home price is $91,234, and the tax rate in this region is reflective of Nebraska's property tax policies. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Westerville can expect a range of tax bills, with the 25th percentile at $434, the 75th percentile at $5,236, and the 90th percentile reaching up to $11,683. These figures illustrate the variability in tax burdens based on property values and specific circumstances. Comparatively, the highest and lowest median tax bills in the area are both $953, highlighting a consistent median within the zip code 68881. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax obligations.
Average Westerville Tax Bill
$953
Average Custer County Tax Bill
$1,435
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Westerville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68881 | $63 | $434 | $953 | $5,236 | $11,683 |
Source: Ownwell