Bingham, Nebraska Property Taxes
The median property tax rate in Bingham, NE is 0.94%, slightly below the national median of 0.99% and significantly lower than Nebraska's state median of 1.75%. With a median home value of $376,995 in Bingham, the typical annual property tax bill amounts to $3,520, which is well above the national median of $2,690. Property taxes in Bingham are determined based on the tax assessed value, which is generally lower than the market value due to various exemptions, including those for primary residences and agricultural properties. Gaining a thorough understanding of Bingham's property tax system, exploring the available exemptions, and identifying potential opportunities for reductions can result in substantial yearly savings. Whether you're in the heart of Bingham or another part of Garden County, familiarizing yourself with the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Bingham, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$3,544
Ownwell’s Bingham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bingham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bingham 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 Bingham, Nebraska
Property taxes in Bingham, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bingham is 0.94%, which is lower than the U.S. national median of 0.99%. Local government entities within Bingham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bingham 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 Bingham's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69335 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Bingham provides valuable insights into the varying tax landscape across Garden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bingham Tax Rate
0.94%
Average Garden County Tax Rate
1.21%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bingham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69335 | 0.93% | 0.93% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Bingham, Nebraska
In Bingham, Nebraska, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. The market value represents the amount a willing buyer would pay a willing seller in an open market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. Conversely, 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 Bingham, 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 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 Bingham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 69335 has the highest and lowest median tax bill at $3,520.
Average Bingham Assessed Value
$376,995
Average Garden County Assessed Value
$72,185
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bingham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69335 | $206,006 | $268,197 | $376,995 | $417,292 | $541,906 |
Source: Ownwell
Property Tax Bills Across Bingham, Nebraska
In Bingham, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Garden County should be aware that the median home price is $376,995. The county's property tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners in the 25th percentile can expect a tax bill of around $2,512, while those in the 75th percentile might see bills closer to $3,908. At the higher end, the 90th percentile tax bill can reach up to $5,089. The highest median tax bill in the area is $3,520, which is consistent across the zip code 69335. These figures highlight the importance of understanding how property assessments and market values directly impact annual tax obligations. Compared to the national median property tax rate of 0.99%, Bingham's rates can significantly affect household budgets, making it crucial for homeowners to stay informed and proactive about their property taxes.
Average Bingham Tax Bill
$3,520
Average Garden County Tax Bill
$810
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Bingham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69335 | $1,921 | $2,512 | $3,520 | $3,908 | $5,089 |
Source: Ownwell