Brady, Nebraska Property Taxes
The median property tax rate in Brady, NE is 1.41%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Brady, the typical annual property tax bill reaches $2,876, surpassing the national median of $2,690. Property taxes in Brady are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Brady'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 Brady or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brady, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$2,612
Ownwell’s Brady Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Brady with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brady to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. 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 Brady, Nebraska
Property taxes in Brady, Nebraska, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Brady is 1.41%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Brady set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brady 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 Brady's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69123 zip code has both the highest and lowest median property tax rate of 1.41%. Understanding how these areas compare with Brady provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brady Tax Rate
1.41%
Average Lincoln County Tax Rate
1.93%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brady, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69123 | 1.38% | 1.41% | 1.41% | 1.99% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Brady, Nebraska
In Brady, 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 Lincoln County 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 Brady, 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 Brady helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Brady is $185,247, with the highest median tax bill being $2,876 in zip code 69123.
Average Brady Assessed Value
$185,247
Average Lincoln County Assessed Value
$120,701
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brady, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69123 | $24,048 | $75,977 | $185,247 | $289,266 | $390,912 |
Source: Ownwell
Property Tax Bills Across Brady, Nebraska
In Brady, located in Lincoln County, NE, property tax bills are calculated based on the assessed value of a homeowner's property. The local tax assessor determines this value, which is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property size, location, and market conditions influence assessed values. Homeowners in Brady experience a range of property tax bills; the 25th percentile tax bill is $1,393, while the 75th percentile tax bill reaches $4,248. Those in the 90th percentile can see bills as high as $5,513. Comparing this to the national median property tax rate of 0.99%, Brady's property taxes can vary significantly, impacting homeowners' financial planning. The highest median tax bill in the area is $2,876, which is consistent across the 69123 zip code. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Brady Tax Bill
$2,876
Average Lincoln County Tax Bill
$2,112
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Brady, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69123 | $254 | $1,393 | $2,876 | $4,248 | $5,513 |
Source: Ownwell