Bennet, Nebraska Property Taxes
The median property tax rate in Bennet, NE is 1.56%, significantly higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $267,400 in Bennet, the typical annual property tax bill amounts to $4,169, which surpasses the national median of $2,690. Property taxes in Bennet are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Bennet's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Bennet or another part of Lancaster County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bennet, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$4,171
Ownwell’s Bennet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bennet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bennet 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 Bennet, Nebraska
Property taxes in Bennet, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bennet is 1.56%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Bennet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bennet 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 Bennet's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68317 zip code has the highest median property tax rate of 1.56%, while the same 68317 zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Bennet provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bennet Tax Rate
1.56%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bennet, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68317 | 0.78% | 1.23% | 1.56% | 1.74% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Bennet, Nebraska
In Bennet, 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 Lancaster 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 Bennet, 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 Bennet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68317 has the highest and lowest median tax bill, both at $4,169.
Average Bennet Assessed Value
$267,400
Average Lancaster County Assessed Value
$238,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bennet, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68317 | $71,500 | $168,650 | $267,400 | $384,600 | $523,060 |
Source: Ownwell
Property Tax Bills Across Bennet, Nebraska
In Bennet, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is periodically evaluated by local authorities. Various factors, including property size, location, and improvements, influence this assessed value. Homeowners in Bennet face a median property tax rate of 0.99%, aligning with the national median. For instance, with a median home price of $267,400, homeowners can expect their property tax bill to fall between the 25th percentile at $2,501 and the 75th percentile at $5,393. At the 90th percentile, this figure can rise to $6,776. The highest and lowest median tax bills in the area are both recorded at $4,169 in the 68317 zip code. These property tax obligations significantly impact household budgets, making it crucial for homeowners to understand how their tax bills are calculated and what factors contribute to their overall assessment.
Average Bennet Tax Bill
$4,169
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Bennet, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68317 | $795 | $2,501 | $4,169 | $5,393 | $6,776 |
Source: Ownwell