Butte, Nebraska Property Taxes
The median property tax rate in Butte, NE is 1.54%, which is significantly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Butte at $42,960, the typical annual property tax bill amounts to $652, which is below the national median of $2,690. Property taxes in Butte are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Butte'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 Butte or another part of Boyd County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Butte, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$662
Ownwell’s Butte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Butte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Butte 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 Butte, Nebraska
Property taxes in Butte, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Butte is 1.54%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Butte set these rates annually, and they can vary significantly across different neighborhoods. Each year, Butte 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 Butte's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68722 has the highest median property tax rate of 1.54%, while the same zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Butte provides valuable insights into the varying tax landscape across Boyd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Butte Tax Rate
1.54%
Average Boyd County Tax Rate
1.36%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Butte, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68722 | 1.03% | 1.04% | 1.54% | 1.54% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Butte, Nebraska
In Butte, 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 Boyd 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 Butte, 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 Butte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 68722 has the highest median tax bill at $652.00.
Average Butte Assessed Value
$42,960
Average Boyd County Assessed Value
$47,040
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Butte, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68722 | $6,772 | $17,798 | $42,960 | $126,298 | $372,106 |
Source: Ownwell
Property Tax Bills Across Butte, Nebraska
In Butte, located in Boyd County, NE, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by the local assessor's office, reflecting a percentage of the property's market value. For homeowners in Butte, the median home price is $42,960. The property tax rate in Boyd County is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. In Butte, the tax bills can vary significantly. For instance, the 25th percentile tax bill is $256, while the 75th percentile tax bill reaches $1,598. The highest median tax bill recorded in the area is $652. These variations can impact homeowners differently, with higher-valued properties incurring larger tax bills. Compared to the national median property tax rate of 0.99%, Butte’s tax rates can be considered relatively moderate, offering a more affordable option for property owners.
Average Butte Tax Bill
$652
Average Boyd County Tax Bill
$645
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Butte, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68722 | $88 | $256 | $652 | $1,598 | $3,863 |
Source: Ownwell