Sumner, Nebraska Property Taxes
The median property tax rate in Sumner, NE is 1.43%, notably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Sumner at $2,186,000, the typical annual property tax bill reaches $31,241, significantly exceeding the national median of $2,690. Property taxes in Sumner 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 Sumner'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 Sumner 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
Sumner, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$31,260
Ownwell’s Sumner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sumner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sumner 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 Sumner, Nebraska
Property taxes in Sumner, Nebraska, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Sumner is 1.43%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Sumner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumner 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 Sumner's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68878 has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these areas compare with Sumner provides valuable insights into the varying tax landscape across Dawson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sumner Tax Rate
1.43%
Average Buffalo County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sumner, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68878 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Sumner, Nebraska
In Sumner, 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 local 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 Sumner, 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 Sumner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Sumner, the highest median tax bill is found in the 68878 zip code, amounting to $31,241. Conversely, the lowest median tax bill is also in the 68878 zip code, at $31,241.
Average Sumner Assessed Value
$2,186,000
Average Buffalo County Assessed Value
$185,962
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sumner, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68878 | $2,186,000 | $2,186,000 | $2,186,000 | $2,186,000 | $2,186,000 |
Source: Ownwell
Property Tax Bills Across Sumner, Nebraska
In Sumner, located in Buffalo County, NE, property tax bills are determined based on the assessed value of a home, which is influenced by various factors such as market conditions, property size, and location. The assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For Sumner, the median home price is $2,186,000, significantly higher than the national median. This high property value contributes to a substantial tax bill, with the 25th, 75th, and 90th percentiles all showing a tax bill of $31,241. This uniformity indicates a consistent application of property tax rates across different property values within the area. Homeowners in Sumner, therefore, face higher tax obligations compared to the national median property tax rate of 0.99%. These higher tax bills can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and financial planning. Understanding these factors is crucial for homeowners to anticipate and manage their annual property tax expenses effectively.
Average Sumner Tax Bill
$31,241
Average Buffalo County Tax Bill
$3,186
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumner, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68878 | $31,241 | $31,241 | $31,241 | $31,241 | $31,241 |
Source: Ownwell