Newport, Nebraska Property Taxes
The median property tax rate in Newport, NE is 0.66%, significantly lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Newport, the typical annual property tax bill amounts to $1,686, which is below the national median of $2,690. Property taxes in Newport are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Newport'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 Newport or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newport, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,658
Ownwell’s Newport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newport 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 Newport, Nebraska
Property taxes in Newport, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newport is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Newport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newport 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 Newport's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68759 has both the highest and lowest median property tax rate in Keya Paha County, at 0.66%. Understanding how these cities compare with Newport provides valuable insights into the varying tax landscape across Keya Paha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newport Tax Rate
0.66%
Average Keya Paha County Tax Rate
0.67%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newport, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68759 | 0.65% | 0.65% | 0.66% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Newport, Nebraska
In Newport, 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 Keya Paha County Assessor 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 Newport, 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. Newport's median home price stands at $251,215. The annual tax bill varies significantly, with the 25th percentile at $699 and the 75th percentile at $2,335, reaching up to $3,623 at the 90th percentile. The highest and lowest median tax bills are both found in the 68759 zip code, amounting to $1,686. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Newport Assessed Value
$251,215
Average Keya Paha County Assessed Value
$99,585
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newport, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68759 | $15,831 | $100,489 | $251,215 | $339,312 | $551,763 |
Source: Ownwell
Property Tax Bills Across Newport, Nebraska
In Newport, Keya Paha County, NE, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Newport, the median home price is $251,215. While the national median property tax rate is 0.99%, specific rates in Newport may vary. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the tax bill. For instance, homeowners at the 25th percentile can expect a tax bill around $699, while those at the 75th percentile might pay approximately $2,335. At the 90th percentile, the tax bill can reach up to $3,623. Understanding these factors is crucial for homeowners as it directly impacts their annual expenses. By staying informed about how property taxes are calculated, homeowners in Newport can better manage their finances and plan for future expenses.
Average Newport Tax Bill
$1,686
Average Keya Paha County Tax Bill
$892
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Newport, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68759 | $162 | $699 | $1,686 | $2,335 | $3,623 |
Source: Ownwell