Stratton, Nebraska Property Taxes
The median property tax rate in Stratton, NE is 1.38%, noticeably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Stratton at $54,028, the typical annual property tax bill is $765, which is well below the national median of $2,690. Property taxes in Stratton are calculated based on the assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Stratton'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 Stratton or another part of Hitchcock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stratton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$746
Ownwell’s Stratton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stratton with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Stratton to provide an accurate property tax bill estimate. This valuable tool offers a clear understanding of potential tax liabilities, helping you make informed decisions. For those interested in more detailed insights, scrolling down reveals localized trends at the neighborhood level. Your property’s assessed value, determined by Hitchcock County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Stratton, Nebraska
Property taxes in Stratton, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stratton is 1.38%, significantly higher than the U.S. national median of 0.99%. Local government entities within Stratton set these rates annually, and they can vary across different neighborhoods. Each year, Stratton 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 Stratton's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69043 zip code has both the highest and lowest median property tax rate of 1.38%. Understanding how these cities compare with Stratton provides valuable insights into the varying tax landscape across Hitchcock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stratton Tax Rate
1.38%
Average Hitchcock County Tax Rate
1.38%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stratton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69043 | 0.91% | 0.92% | 1.38% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Stratton, Nebraska
In Stratton, 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 Hitchcock 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 Stratton, 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. The median home price in Stratton is $54,028, with tax bills ranging from $321 at the 25th percentile to $3,708 at the 90th percentile. The highest and lowest median tax bill in the area is $765, found in zip code 69043. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stratton Assessed Value
$54,028
Average Hitchcock County Assessed Value
$55,428
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stratton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69043 | $13,449 | $24,580 | $54,028 | $153,301 | $389,303 |
Source: Ownwell
Property Tax Bills Across Stratton, Nebraska
Property tax bills in Stratton, located in Hitchcock County, NE, are determined by assessing the value of a property and then applying the local tax rate to that assessed value. The assessed value is typically a percentage of the property's market value, which in Stratton, has a median home price of $54,028. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Stratton can expect to pay a tax bill that varies significantly; for instance, the 25th percentile tax bill is $321, while the 75th percentile tax bill is $1,676, and the 90th percentile tax bill reaches $3,708. This variation means that property taxes can be a significant expense for some homeowners, especially when compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in Stratton are both $765, indicating a relatively consistent range within the city itself. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Stratton Tax Bill
$765
Average Hitchcock County Tax Bill
$860
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Stratton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69043 | $177 | $321 | $765 | $1,676 | $3,708 |
Source: Ownwell