Winnetoon, Nebraska Property Taxes
The median property tax rate in Winnetoon, NE is 1.20%, 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 $124,320 in Winnetoon, the typical annual property tax bill amounts to $1,395, falling below the national median of $2,690. Property taxes in Winnetoon are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Winnetoon'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 Winnetoon or another part of Knox County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Winnetoon, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,492
Ownwell’s Winnetoon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winnetoon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winnetoon 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 Winnetoon, Nebraska
Property taxes in Winnetoon, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winnetoon is 1.29%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Winnetoon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winnetoon 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 Winnetoon's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68789 zip code has the highest median property tax rate of 1.29%, while the same 68789 zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Winnetoon provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winnetoon Tax Rate
1.20%
Average Knox County Tax Rate
1.28%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winnetoon, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68789 | 0.96% | 1.16% | 1.20% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Winnetoon, Nebraska
In Winnetoon, 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 Knox 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 Winnetoon, 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 Winnetoon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 68789, with a value of $1,395, which is significantly higher than the national median property tax rate of 0.99%.
Average Winnetoon Assessed Value
$124,320
Average Knox County Assessed Value
$96,140
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winnetoon, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68789 | $12,218 | $27,960 | $124,320 | $346,038 | $412,587 |
Source: Ownwell
Property Tax Bills Across Winnetoon, Nebraska
In Winnetoon, Knox County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value of the property. Homeowners in Winnetoon can expect their property tax bills to vary significantly, as seen in the range from the 25th percentile at $422 to the 90th percentile at $4,805. This wide range reflects differences in property values and the specific tax rates applied. The median home price in Winnetoon is $124,320, and the property tax rate is influenced by local government budgets and funding needs for public services such as schools, infrastructure, and emergency services. Homeowners with properties in the highest median tax bill zip code, 68789, pay around $1,395 annually. These property taxes can significantly impact homeowners' budgets, making it essential for them to understand how their tax bills are calculated and what factors contribute to the final amount.
Average Winnetoon Tax Bill
$1,395
Average Knox County Tax Bill
$1,362
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Winnetoon, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68789 | $126 | $422 | $1,395 | $3,652 | $4,805 |
Source: Ownwell