Burr, Nebraska Property Taxes
The median property tax rate in Burr, NE is 1.47%, 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 Burr at $125,516, the typical annual property tax bill reaches $2,109, which is below the national median of $2,690. Property taxes in Burr are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Burr'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 Burr 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
Burr, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$1,845
Ownwell’s BURR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BURR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BURR 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 Burr, Nebraska
Property taxes in Burr, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burr is 1.47%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Burr set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burr 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 Burr's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68324 zip code has the highest median property tax rate of 1.47%, while the 68324 zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Burr provides valuable insights into the varying tax landscape across Otoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burr Tax Rate
1.47%
Average Otoe County Tax Rate
1.92%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burr, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68324 | 1.43% | 1.44% | 1.47% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Burr, Nebraska
In Burr, 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 Otoe 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 Burr, 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 instance, the median home price in Burr is $125,516, with tax bills ranging significantly. The 25th percentile tax bill is $790, while the 75th percentile tax bill is $4,167, and the 90th percentile tax bill is as high as $8,048. The zip code 68324 has the highest and lowest median tax bill of $2,125. 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 Burr Assessed Value
$125,516
Average Otoe County Assessed Value
$121,530
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burr, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68324 | $21,090 | $45,955 | $131,502 | $276,974 | $559,065 |
Source: Ownwell
Property Tax Bills Across Burr, Nebraska
In Burr, located in Otoe County, NE, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The median home price in Burr is $125,516. Homeowners in this area experience a range of property tax bills, with the 25th percentile paying around $790 and the 75th percentile facing bills as high as $4,167. The top 10% of homeowners encounter even steeper bills, reaching up to $8,048. Several factors influence the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions. The assessed value is typically a percentage of the market value, which is then multiplied by the tax rate to calculate the tax owed. Compared to the national median property tax rate of 0.99%, Burr's property tax rates can significantly affect homeowners' finances, making it crucial for property owners to understand their tax obligations and explore potential exemptions to manage costs effectively.
Average Burr Tax Bill
$2,109
Average Otoe County Tax Bill
$2,328
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Burr, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68324 | $406 | $874 | $2,125 | $4,200 | $8,053 |
Source: Ownwell