Bridgeport, Nebraska Property Taxes
The median property tax rate in Bridgeport, NE is 2.04%, significantly higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in Bridgeport at $73,470, the typical annual property tax bill amounts to $1,410, surpassing the national median of $2,690. Property taxes in Bridgeport are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bridgeport's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bridgeport or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bridgeport, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$1,499
Ownwell’s Bridgeport Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Bridgeport, Morrill County, NE. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Bridgeport to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by the county and takes into account any applicable exemptions, ensuring a precise calculation for your property tax obligations.
Property Tax Rates Across Bridgeport, Nebraska
Property taxes in Bridgeport, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgeport is 2.04%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bridgeport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgeport 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 Bridgeport's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69336 zip code has the highest median property tax rate of 2.04%, while the 69336 zip code also has the lowest median tax rate of 2.04%. Understanding how these cities compare with Bridgeport provides valuable insights into the varying tax landscape across Morrill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgeport Tax Rate
2.04%
Average Morrill County Tax Rate
1.83%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgeport, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69336 | 1.59% | 1.61% | 2.04% | 2.04% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Bridgeport, Nebraska
In Bridgeport, 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 Morrill 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 Bridgeport, 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 Bridgeport 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 69336, with a median tax bill of $1,410, while the same zip code also has the lowest median tax bill at $1,410.
Average Bridgeport Assessed Value
$73,470
Average Morrill County Assessed Value
$78,985
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgeport, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69336 | $7,596 | $31,949 | $73,470 | $139,368 | $282,804 |
Source: Ownwell
Property Tax Bills Across Bridgeport, Nebraska
In Bridgeport, property tax bills are calculated based on the assessed value of the home, which is determined by the Morrill County Assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $73,470, homeowners can expect a tax bill that varies significantly depending on their property's assessed value and specific circumstances. Factors such as property location within the county, improvements made to the property, and local levies for schools and public services also influence the final tax bill. Homeowners in the 25th percentile might pay around $583, while those in the 75th percentile could see bills as high as $2,700. For those in the 90th percentile, the tax bill can reach up to $5,021. This variability underscores the importance of understanding how local assessments and rates impact property taxes, as they can significantly affect the overall cost of homeownership in Bridgeport compared to the national median property tax rate of 0.99%.
Average Bridgeport Tax Bill
$1,410
Average Morrill County Tax Bill
$1,479
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgeport, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69336 | $154 | $583 | $1,410 | $2,700 | $5,021 |
Source: Ownwell