Potter, Nebraska Property Taxes
The median property tax rate in Potter, Nebraska is 1.39%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Potter, the typical annual property tax bill reaches $2,419, slightly below the national median of $2,690. Property taxes in Potter are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Potter'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 Potter 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
Potter, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$2,424
Ownwell’s Potter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Potter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Potter 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 Potter, Nebraska
Property taxes in Potter, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Potter is 1.39%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Potter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Potter 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 Potter's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69156 zip code has the highest median property tax rate of 1.39%, while the lowest median tax rate is also 1.39% in the same zip code. Understanding how these cities compare with Potter provides valuable insights into the varying tax landscape across Kimball County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Potter Tax Rate
1.39%
Average Kimball County Tax Rate
2.01%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Potter, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69156 | 1.39% | 1.39% | 1.39% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Potter, Nebraska
In Potter, 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 local 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 Potter, 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 Potter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Potter are both $2,419, located in the 69156 zip code.
Average Potter Assessed Value
$174,405
Average Kimball County Assessed Value
$75,570
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Potter, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69156 | $80,976 | $130,780 | $174,405 | $251,640 | $356,064 |
Source: Ownwell
Property Tax Bills Across Potter, Nebraska
In Potter, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Potter, the median home price is $174,405. Tax bills can vary significantly depending on the property's assessed value and the specific tax rate applied. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. For example, homeowners in the 25th percentile can expect to pay around $1,822 annually, while those in the 75th percentile might see tax bills up to $3,488. The 90th percentile tax bill can go as high as $4,952. These property taxes fund essential community services like schools, infrastructure, and public safety. Comparing these figures to the national median property tax rate of 0.99%, Potter's tax rates are relatively moderate, offering a balanced approach to funding local services while maintaining affordability for homeowners.
Average Potter Tax Bill
$2,419
Average Kimball County Tax Bill
$1,418
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Potter, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69156 | $1,135 | $1,822 | $2,419 | $3,488 | $4,952 |
Source: Ownwell