Heartwell, Nebraska Property Taxes
The median property tax rate in Heartwell, NE is 1.27%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Heartwell at $192,545, the typical annual property tax bill is $2,418, slightly below the national median of $2,690. Property taxes in Heartwell are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Heartwell'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 Heartwell or another part of Kearney County, grasping the local property tax nuances will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Heartwell, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$2,445
Ownwell’s Heartwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Heartwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Heartwell 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 Heartwell, Nebraska
Property taxes in Heartwell, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Heartwell is 1.27%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Heartwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Heartwell 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 Heartwell's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68945 has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Heartwell provides valuable insights into the varying tax landscape across Kearney County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Heartwell Tax Rate
1.27%
Average Kearney County Tax Rate
1.71%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Heartwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68945 | 1.22% | 1.25% | 1.27% | 1.49% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Heartwell, Nebraska
In Heartwell, 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 Kearney 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 Heartwell, 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. For example, the highest median tax bill in Heartwell is $2,418 in the 68945 zip code. 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 Heartwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Heartwell Assessed Value
$192,545
Average Kearney County Assessed Value
$148,680
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Heartwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68945 | $20,294 | $47,585 | $192,545 | $459,650 | $803,920 |
Source: Ownwell
Property Tax Bills Across Heartwell, Nebraska
In Heartwell, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. For instance, if the median home price is $192,545, the assessed value will be a fraction of this amount, depending on local assessment rates. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location within Kearney County, any applicable exemptions, and the specific tax rates set by local taxing authorities. For example, the 25th percentile of tax bills in Heartwell is $698, while the 75th percentile reaches $5,980, and the 90th percentile can go up to $10,038. These variations highlight the impact of property value and local tax rates on homeowners. Compared to the national median property tax rate of 0.99%, Heartwell's homeowners may experience different tax burdens based on these assessed values and local tax policies.
Average Heartwell Tax Bill
$2,418
Average Kearney County Tax Bill
$2,442
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Heartwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68945 | $307 | $698 | $2,418 | $5,980 | $10,038 |
Source: Ownwell