Valentine, Nebraska Property Taxes
The median property tax rate in Valentine, NE is 0.87%, which is lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $134,348 in Valentine, the typical annual property tax bill amounts to $1,219, significantly below the national median of $2,690. Property taxes in Valentine are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Valentine’s property tax system and exploring available exemptions, homeowners and real estate investors can identify opportunities for considerable annual savings. Whether you reside in the heart of Valentine or its surrounding areas, gaining insights into the local property tax system is crucial for maximizing your financial benefits.
Last Updated June 14, 2024
Valentine, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,169
Ownwell’s Valentine Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Valentine. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Valentine to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax obligations and plan accordingly. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value, determined by Cherry County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Valentine, Nebraska
Property taxes in Valentine, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valentine is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Valentine set these rates annually, and they can vary across different neighborhoods. Each year, Valentine 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 Valentine's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 69201 has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Valentine 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 Valentine Tax Rate
0.87%
Average Cherry County Tax Rate
0.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valentine, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69201 | 0.64% | 0.78% | 0.87% | 1.03% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Valentine, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Valentine, Nebraska. 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 Valentine, 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 Valentine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Valentine are both $1,219, found in zip code 69201.
Average Valentine Assessed Value
$134,348
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 Valentine, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69201 | $30,601 | $73,751 | $134,348 | $206,968 | $321,589 |
Source: Ownwell
Property Tax Bills Across Valentine, Nebraska
In Valentine, located in Cherry County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Factors such as location, property size, and improvements can influence this assessment. With a median home price of $134,348, homeowners in Valentine can expect varying tax bills. The 25th percentile tax bill is around $611, while the 75th percentile reaches $1,853, and the 90th percentile can be as high as $2,825. These tax bills are crucial for homeowners as they directly impact annual housing costs. The highest and lowest median tax bills in the area both stand at $1,219, which is relatively moderate compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners in Valentine anticipate their financial obligations and plan accordingly.
Average Valentine Tax Bill
$1,219
Average Cherry County Tax Bill
$1,288
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Valentine, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69201 | $272 | $611 | $1,219 | $1,853 | $2,825 |
Source: Ownwell