De Witt, Nebraska Property Taxes
The median property tax rate in De Witt, NE is 1.44%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in De Witt at $104,148, the typical annual property tax bill reaches $1,389, still below the national median of $2,690. Property taxes in De Witt are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding De Witt'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 De Witt 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
De Witt, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$1,500
Ownwell’s DE WITT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DE WITT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE WITT 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 De Witt, Nebraska
Property taxes in De Witt, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in De Witt is 1.44%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within De Witt set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Witt 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 De Witt's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68341 zip code has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with De Witt provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Witt Tax Rate
1.44%
Average Saline County Tax Rate
1.73%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Witt, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68341 | 1.08% | 1.40% | 1.44% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across De Witt, Nebraska
In DE WITT, 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 Saline 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 DE WITT, 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 DE WITT is $104,148, with property tax bills ranging from $714 at the 25th percentile to $3,708 at the 90th percentile. 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 DE WITT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average De Witt Assessed Value
$104,148
Average Saline County Assessed Value
$121,445
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Witt, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68341 | $26,157 | $59,089 | $104,148 | $152,326 | $265,693 |
Source: Ownwell
Property Tax Bills Across De Witt, Nebraska
In DE WITT, located in Saline County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $104,148. Property tax rates are applied to this assessed value to determine the annual tax bill. Homeowners in DE WITT can expect their property tax bills to vary significantly, with the 25th percentile at $714, the 75th percentile reaching $2,042, and the 90th percentile peaking at $3,708. These variations are influenced by multiple factors, including property size, location, and any applicable exemptions or deductions. The highest median tax bill in the area is $1,389, which aligns with the national median property tax rate of 0.99%. Understanding how these factors interplay is crucial for homeowners as it directly impacts their annual financial planning and the overall affordability of their property.
Average De Witt Tax Bill
$1,389
Average Saline County Tax Bill
$2,074
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across De Witt, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68341 | $212 | $714 | $1,389 | $2,042 | $3,708 |
Source: Ownwell