North Platte, Nebraska Property Taxes
The median property tax rate in North Platte, NE is 1.93%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in North Platte at $116,580, the typical annual property tax bill reaches $2,075, which is below the national median of $2,690. Property taxes in North Platte 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 North Platte'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 North Platte or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Platte, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.93%
Estimate Property Tax Bill
$2,250
Ownwell’s North Platte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Platte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Platte 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 North Platte, Nebraska
Property taxes in North Platte, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Platte is 1.93%, significantly higher than the U.S. national median of 0.99%. Local government entities within North Platte set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Platte 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 North Platte's effective property tax rate to other areas in Nebraska and the national median. For comparison, the 69101 zip code has the highest median property tax rate of 1.93%, while the same zip code also has the lowest median tax rate of 1.93%. Understanding how these cities compare with North Platte 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 North Platte Tax Rate
1.93%
Average Lincoln County Tax Rate
1.93%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Platte, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69101 | 1.45% | 1.62% | 1.93% | 1.93% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across North Platte, Nebraska
In North Platte, 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 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 North Platte, 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 North Platte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Among the zip codes, 69101 has the highest and lowest median tax bill, both at $2,075, compared to the national median property tax rate of 0.99%.
Average North Platte Assessed Value
$116,580
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 North Platte, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69101 | $31,077 | $70,866 | $116,580 | $185,558 | $274,808 |
Source: Ownwell
Property Tax Bills Across North Platte, Nebraska
Property tax bills in North Platte, located in Lincoln County, NE, are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Homeowners in North Platte can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $1,126 and the 75th percentile reaching $3,232. At the higher end, the 90th percentile tax bill can be as much as $4,577. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. The median home price in North Platte is $116,580, and the property tax rate for the area influences the overall tax burden for homeowners. Compared to the national median property tax rate of 0.99%, homeowners in North Platte may find their tax bills to be relatively manageable, though individual experiences can vary based on the specific assessed value of their homes.
Average North Platte Tax Bill
$2,075
Average Lincoln County Tax Bill
$2,112
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across North Platte, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69101 | $204 | $1,126 | $2,075 | $3,232 | $4,577 |
Source: Ownwell