Culbertson, Nebraska Property Taxes
The median property tax rate in Culbertson, Nebraska is 1.43%, which is significantly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $345,607 in Culbertson, the typical annual property tax bill reaches $4,724, surpassing the national median of $2,690. Property taxes in Culbertson are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Culbertson'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 Culbertson or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Culbertson, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$4,942
Ownwell’s Culbertson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Culbertson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Culbertson 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 Culbertson, Nebraska
Property taxes in Culbertson, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Culbertson is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Culbertson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culbertson 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 Culbertson's effective property tax rate to other regions and the national median. For comparison, the 69024 zip code has both the highest and lowest median property tax rate of 1.43%. Understanding how these areas compare with Culbertson provides valuable insights into the varying tax landscape across Red Willow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culbertson Tax Rate
1.43%
Average Red Willow County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culbertson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69024 | 1.37% | 1.43% | 1.43% | 1.45% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Culbertson, Nebraska
In Culbertson, 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 Red Willow 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 Culbertson, 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 Culbertson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Culbertson are both $4,724, found in the 69024 zip code.
Average Culbertson Assessed Value
$345,607
Average Red Willow County Assessed Value
$101,885
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culbertson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69024 | $161,540 | $190,816 | $345,607 | $524,572 | $878,855 |
Source: Ownwell
Property Tax Bills Across Culbertson, Nebraska
In Culbertson, property tax bills are calculated based on the assessed value of a property, which is determined by the local county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The tax rate in Red Willow County is influenced by various factors, including the budgetary needs of local government, schools, and public services. Homeowners in Culbertson can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $2,654, while the 75th percentile tax bill reaches $7,322. At the higher end, the 90th percentile tax bill can be as much as $12,527. These figures indicate a broad range of property tax liabilities, reflecting differences in property values and the specific characteristics of each property. Compared to the national median property tax rate of 0.99%, homeowners in Culbertson may find their tax bills relatively higher or lower, depending on their property's assessed value and the local tax rate. This variability can significantly impact homeowners' annual financial planning and long-term investment decisions.
Average Culbertson Tax Bill
$4,724
Average Red Willow County Tax Bill
$1,615
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Culbertson, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69024 | $1,753 | $2,654 | $4,724 | $7,322 | $12,527 |
Source: Ownwell