Purdum, Nebraska Property Taxes
The median property tax rate in Purdum, NE is 0.78%, considerably lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Purdum, the typical annual property tax bill reaches $1,975, falling below the national median of $2,690. Property taxes in Purdum 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 Purdum'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 Purdum 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
Purdum, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,966
Ownwell’s Purdum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Purdum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Purdum 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 Purdum, Nebraska
Property taxes in Purdum, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Purdum is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Purdum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Purdum 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 Purdum's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 69157 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Purdum provides valuable insights into the varying tax landscape across Cherry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Purdum Tax Rate
0.78%
Average Cherry County Tax Rate
0.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Purdum, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69157 | 0.78% | 0.78% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Purdum, Nebraska
In Purdum, 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 Cherry 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 Purdum, 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. The median home price in Purdum is $252,008, with a median tax bill of $1,975. Notably, the zip code with both the highest and lowest median tax bills is 69157, standing at $1,975. 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 Purdum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Purdum Assessed Value
$252,008
Average Cherry County Assessed Value
$139,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Purdum, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69157 | $252,008 | $252,008 | $252,008 | $252,008 | $252,008 |
Source: Ownwell
Property Tax Bills Across Purdum, Nebraska
In Purdum, Cherry County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Purdum stands at $252,008. To determine the property tax bill, the assessed value is multiplied by the local tax rate. The tax rate in Cherry County is influenced by various factors, including funding requirements for public services such as schools, infrastructure, and emergency services. For homeowners in Purdum, the median property tax bill is consistently $1,975, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable in the region. The consistency in tax bills across different percentiles—25th, 75th, and 90th—indicates a stable and predictable tax environment. This stability can provide homeowners with a sense of financial security, knowing that their property tax obligations are unlikely to fluctuate dramatically year over year.
Average Purdum Tax Bill
$1,975
Average Cherry County Tax Bill
$1,288
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Purdum, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69157 | $1,975 | $1,975 | $1,975 | $1,975 | $1,975 |
Source: Ownwell