Dunning, Nebraska Property Taxes
The median property tax rate in Dunning, Nebraska is 0.86%, which is lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $650,660 in Dunning, the typical annual property tax bill amounts to $5,622, surpassing the national median of $2,690. Property taxes in Dunning are based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Dunning'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 Dunning 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
Dunning, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$5,596
Ownwell’s Dunning Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunning with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunning 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 Dunning, Nebraska
Property taxes in Dunning, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunning is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Dunning set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunning 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 Dunning's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code with the highest median property tax rate in the county is 68833, with a rate of 0.86%, while the zip code with the lowest median tax rate is also 68833, with a rate of 0.86%. Understanding how these areas compare with Dunning provides valuable insights into the varying tax landscape across Thomas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunning Tax Rate
0.86%
Average Thomas County Tax Rate
0.90%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunning, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68833 | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Dunning, Nebraska
In Dunning, 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 Thomas 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 Dunning, 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 Dunning helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68833 has the highest and lowest median tax bill at $5,622, highlighting the uniformity in tax assessments in this area.
Average Dunning Assessed Value
$650,660
Average Thomas County Assessed Value
$63,458
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunning, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68833 | $650,660 | $650,660 | $650,660 | $650,660 | $650,660 |
Source: Ownwell
Property Tax Bills Across Dunning, Nebraska
In Dunning, located in Thomas County, NE, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. Homeowners in Dunning face a median property tax bill of $5,622, which is higher than the national median property tax rate of 0.99%. The tax bill is influenced by various factors, including the property's location, size, and any improvements made to it. The tax rate in Dunning is applied to the assessed value to determine the annual tax bill. This means that homeowners with higher-valued properties will pay more in property taxes. For example, with a median home price of $650,660, the property tax bill can be a significant expense for homeowners. The consistency of the tax bill across different percentiles suggests a uniformity in assessed values and tax rates within the area. This can impact homeowners by affecting their annual budget and the overall affordability of owning property in Dunning.
Average Dunning Tax Bill
$5,622
Average Thomas County Tax Bill
$669
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunning, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68833 | $5,622 | $5,622 | $5,622 | $5,622 | $5,622 |
Source: Ownwell