Riverton, Nebraska Property Taxes
The median property tax rate in Riverton, NE is 1.27%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Riverton at $554,318, the typical annual property tax bill reaches $7,029, exceeding the national median of $2,690. Property taxes in Riverton 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 Riverton'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 Riverton 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
Riverton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$7,040
Ownwell’s Riverton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Riverton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverton to estimate your property tax bill. This intuitive tool provides clarity on potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Riverton, Nebraska
Property taxes in Riverton, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riverton is 1.27%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Riverton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverton 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 Riverton's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68972 zip code has the highest median property tax rate of 1.27%, while the 68972 zip code has the lowest median tax rate of 1.27%. Understanding how these cities compare with Riverton provides valuable insights into the varying tax landscape across Webster, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Riverton Tax Rate
1.27%
Average Webster County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riverton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68972 | 1.27% | 1.27% | 1.27% | 1.27% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Riverton, Nebraska
In Riverton, 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 Webster 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 Riverton, 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. For example, the median home price in Riverton is $554,318, with tax bills ranging from $4,859 at the 25th percentile to $10,502 at the 90th percentile. Notably, the highest and lowest median tax bill in Riverton is $7,029, both found in the zip code 68972. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Riverton Assessed Value
$554,318
Average Webster County Assessed Value
$71,225
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Riverton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68972 | $279,156 | $382,341 | $554,318 | $726,294 | $829,480 |
Source: Ownwell
Property Tax Bills Across Riverton, Nebraska
In Riverton, Webster County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $554,318, homeowners can expect significant variability in their tax bills. The tax bill at the 25th percentile is $4,859, while at the 75th percentile, it can rise to $9,200. For those in the 90th percentile, the tax bill can reach up to $10,502. These figures indicate a substantial range, reflecting differences in property values and applicable exemptions. Comparatively, Riverton's property tax rates can be higher than the national median property tax rate of 0.99%. This high variability in tax bills can significantly impact homeowners' financial planning and budgeting, making it crucial for them to understand how their property is assessed and the local tax rates applied.
Average Riverton Tax Bill
$7,029
Average Webster County Tax Bill
$1,254
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Riverton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68972 | $3,556 | $4,859 | $7,029 | $9,200 | $10,502 |
Source: Ownwell