Gothenburg, Nebraska Property Taxes
The median property tax rate in Gothenburg, NE is 1.48%, which is considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Gothenburg at $250,627, the typical annual property tax bill reaches $3,641, surpassing the national median of $2,690. Property taxes in Gothenburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gothenburg'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 Gothenburg or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gothenburg, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$3,709
Ownwell’s Gothenburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gothenburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gothenburg 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 Gothenburg, Nebraska
Property taxes in Gothenburg, Nebraska, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Gothenburg is 1.48%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Gothenburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gothenburg 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 Gothenburg's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 69134 has the highest median property tax rate of 1.49%, while zip code 69138 has the lowest median tax rate of 1.47%. Understanding how these areas compare with Gothenburg provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gothenburg Tax Rate
1.48%
Average Lincoln County Tax Rate
1.93%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gothenburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69134 | 1.49% | 1.49% | 1.49% | 1.49% | 1.49% |
| 69138 | 1.40% | 1.41% | 1.47% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Gothenburg, Nebraska
In Gothenburg, 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 Lincoln 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 Gothenburg, 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. For example, the highest median tax bill in Gothenburg is $5,005 in the 69134 zip code, while the lowest median tax bill is $3,151 in the 69138 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gothenburg Assessed Value
$250,627
Average Lincoln County Assessed Value
$120,701
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gothenburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69134 | $335,299 | $335,299 | $335,299 | $335,299 | $335,299 |
| 69138 | $37,367 | $107,394 | $216,917 | $489,214 | $895,642 |
Source: Ownwell
Property Tax Bills Across Gothenburg, Nebraska
In Gothenburg, located in Lincoln County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Gothenburg, the median home price is $250,627. The property tax bill can vary significantly, with the 25th percentile at $1,692 and the 75th percentile reaching $7,164. For those in the 90th percentile, the tax bill can be as high as $13,362. Several factors influence the assessed value, including the home's size, age, location, and any improvements made. The local tax rate is applied to this assessed value to calculate the final tax bill. Homeowners in Gothenburg face varying tax bills depending on their property's assessed value and the specific tax rate in their area. Compared to the national median property tax rate of 0.99%, Gothenburg's rates reflect the local economic conditions and funding needs for public services.
Average Gothenburg Tax Bill
$3,641
Average Lincoln County Tax Bill
$2,112
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Gothenburg, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69134 | $5,005 | $5,005 | $5,005 | $5,005 | $5,005 |
| 69138 | $212 | $1,642 | $3,151 | $7,186 | $13,362 |
Source: Ownwell