Seward, Nebraska Property Taxes
The median property tax rate in Seward, NE is 1.61%, which is significantly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Seward at $196,101, the typical annual property tax bill amounts to $3,035, surpassing the national median of $2,690. Property taxes in Seward are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Seward'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 Seward or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seward, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$3,157
Ownwell’s Seward Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seward with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seward 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 Seward, Nebraska
Property taxes in Seward, Nebraska, are essential in funding critical local services like public schools, road maintenance, and emergency services. The median tax rate in Seward is 1.61%, significantly higher than the U.S. national median of 0.99%. Local government entities within Seward set these rates annually, and they can vary across different neighborhoods. Each year, Seward 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 for setting property tax rates. The data below compares Seward's effective property tax rate to other areas and the national median. For comparison, the zip code 68434 has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these rates compare with Seward provides valuable insights into the varying tax landscape across Seward County, helping homeowners gain a clearer picture of their property tax obligations relative to other areas.
Average Seward Tax Rate
1.61%
Average Seward County Tax Rate
1.59%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seward, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68434 | 1.30% | 1.31% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Seward, Nebraska
In Seward, 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 Seward 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 Seward, 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 Seward helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68434 has the highest median tax bill at $3,035, which is also the lowest median tax bill in the area.
Average Seward Assessed Value
$196,101
Average Seward County Assessed Value
$185,126
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seward, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68434 | $80,417 | $135,737 | $196,101 | $277,538 | $406,482 |
Source: Ownwell
Property Tax Bills Across Seward, Nebraska
In Seward, Nebraska, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is derived from the market value, but it is typically a percentage of this value. Homeowners in Seward can expect a median property tax bill of approximately $3,035, which may vary depending on the specific area within the city. For instance, tax bills in the 25th percentile are around $2,048, while those in the 75th percentile can reach up to $4,263. In some cases, homeowners may see tax bills as high as $6,028, placing them in the 90th percentile. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Seward’s property tax rates are relatively moderate. Understanding these elements can help homeowners better anticipate their annual tax obligations and budget accordingly.
Average Seward Tax Bill
$3,035
Average Seward County Tax Bill
$2,810
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Seward, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68434 | $1,098 | $2,048 | $3,035 | $4,263 | $6,028 |
Source: Ownwell