Burwell, Nebraska Property Taxes
The median property tax rate in Burwell, NE is 1.29%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $44,389, the typical annual property tax bill in Burwell is around $611, significantly below the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Burwell's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Burwell or another part of Holt County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burwell, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$573
Ownwell’s Burwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burwell 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 Burwell, Nebraska
Property taxes in Burwell, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burwell is 1.32%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Burwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burwell 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 Burwell's effective property tax rate to other counties in Nebraska and the national median. For comparison, the highest median property tax rate in the region is 1.61%, while the lowest median tax rate is also 1.61%. Understanding how these cities compare with Burwell provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burwell Tax Rate
1.29%
Average Holt County Tax Rate
1.55%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | 1.14% | 1.20% | 1.29% | 1.38% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Burwell, Nebraska
In Burwell, 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. 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 Burwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Burwell, the median home price is $44,389, with tax bills ranging from $434 at the 25th percentile to $789 at the 75th percentile, and $895 at the 90th percentile. The zip code 68823 has the highest median tax bill at $611.
Average Burwell Assessed Value
$44,389
Average Holt County Assessed Value
$91,350
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | $27,504 | $33,836 | $44,389 | $54,942 | $61,274 |
Source: Ownwell
Property Tax Bills Across Burwell, Nebraska
In Burwell, Holt County, NE, property tax bills are calculated based on the assessed value of the property and the local tax rate. The local tax rate in Burwell is influenced by various factors, including funding requirements for public services such as schools, infrastructure, and emergency services. Homeowners in Burwell can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $434, while the 75th percentile tax bill is approximately $789. At the higher end, the 90th percentile tax bill can reach up to $895. These tax bills are determined by multiplying the assessed value of the property by the local tax rate. Given that the median home price in Burwell is $44,389, the property tax rate is a crucial factor in determining the final tax bill. When compared to the national median property tax rate of 0.99%, Burwell's property tax rates can have a considerable impact on homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Burwell Tax Bill
$611
Average Holt County Tax Bill
$1,293
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | $327 | $434 | $611 | $789 | $895 |
Source: Ownwell