Duncan, Nebraska Property Taxes
The median property tax rate in Duncan, Nebraska is 1.60%, which is considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Duncan at $140,720, the typical annual property tax bill reaches $2,190, falling below the national median of $2,690. Property taxes in Duncan are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Duncan'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 Duncan or another part of Platte County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Duncan, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$2,252
Ownwell’s Duncan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Duncan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Duncan 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 Duncan, Nebraska
Property taxes in Duncan, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Duncan is 2.01%, significantly higher than both the Nebraska state median of 1.73% and the U.S. national median of 0.99%. Local government entities within Duncan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Duncan 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 Duncan's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68634 zip code has the highest median property tax rate of 2.01%, while the same zip code also has the lowest median tax rate of 2.01%. Understanding how these cities compare with Duncan provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Duncan Tax Rate
1.60%
Average Platte County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Duncan, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68634 | 1.60% | 1.60% | 1.60% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Duncan, Nebraska
In Duncan, 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 Platte 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 Duncan, 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. The median home price in Duncan is $140,720, with tax bills ranging from $1,596 at the 25th percentile to $3,661 at the 90th percentile. The highest and lowest median tax bills are both $2,190, found in zip code 68634. 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 Duncan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Duncan Assessed Value
$140,720
Average Platte County Assessed Value
$171,615
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Duncan, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68634 | $51,725 | $103,572 | $140,720 | $175,838 | $231,890 |
Source: Ownwell
Property Tax Bills Across Duncan, Nebraska
In Duncan, located in Platte County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Duncan typically see tax bills ranging from $1,596 at the 25th percentile to $3,661 at the 90th percentile, with the median tax bill being $2,190. Several factors influence the tax bill, including property size, location, and market conditions. For example, a home with a median market price of $140,720 would be subject to these rates, potentially impacting the homeowner's budget significantly. Compared to the national median property tax rate of 0.99%, Duncan's property tax rates can be relatively high, affecting affordability and overall cost of living for residents. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Duncan Tax Bill
$2,190
Average Platte County Tax Bill
$2,760
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Duncan, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68634 | $546 | $1,596 | $2,190 | $2,782 | $3,661 |
Source: Ownwell