Bellwood, Nebraska Property Taxes
The median property tax rate in Bellwood, NE is 1.10%, which is higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in Bellwood at $145,985, the typical annual property tax bill reaches $1,876, falling below the national median of $2,690. Property taxes in Bellwood are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Bellwood'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 Bellwood 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
Bellwood, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,606
Ownwell’s Bellwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bellwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bellwood 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 Bellwood, Nebraska
Property taxes in Bellwood, Nebraska, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bellwood is 1.10%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bellwood set these rates annually, and they can vary across different neighborhoods. Each year, Bellwood 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 Bellwood's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68624 has the highest median property tax rate of 1.10%, which is the same as the rate in Bellwood. Understanding how these areas compare with Bellwood provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bellwood Tax Rate
1.10%
Average Butler County Tax Rate
1.49%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bellwood, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68624 | 1.08% | 1.09% | 1.10% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Bellwood, Nebraska
In Bellwood, 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 Butler 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 Bellwood, 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 Bellwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 68624, with a value of $1,876. Conversely, the lowest median tax bill is also in zip code 68624, reflecting the same value. The median home price in Bellwood is $145,985, with tax bills ranging from $804 at the 25th percentile to $5,598 at the 90th percentile.
Average Bellwood Assessed Value
$145,985
Average Butler County Assessed Value
$140,672
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bellwood, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68624 | $25,375 | $71,870 | $145,985 | $243,762 | $485,089 |
Source: Ownwell
Property Tax Bills Across Bellwood, Nebraska
In Bellwood, located in Butler County, NE, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local tax assessor and reflects a percentage of the property's market value. Factors such as the size of the property, location, and any improvements or renovations can affect this assessed value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Bellwood, the median home price is $145,985. Property tax bills in this area vary significantly, with the 25th percentile paying around $804, while those in the 75th percentile pay approximately $2,932. At the higher end, the 90th percentile sees tax bills reaching up to $5,598. These taxes fund essential local services such as schools, infrastructure, and emergency services, impacting the overall quality of life for residents. With the national median property tax rate at 0.99%, Bellwood's rates can be compared to understand the local tax burden better.
Average Bellwood Tax Bill
$1,876
Average Butler County Tax Bill
$1,858
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Bellwood, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68624 | $268 | $804 | $1,876 | $2,932 | $5,598 |
Source: Ownwell