Burwell, Nebraska Property Taxes
The median property tax rate in Burwell, NE is 1.30%, which is higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Burwell, the typical annual property tax bill reaches $4,260, significantly exceeding the national median of $2,690. Property taxes in Burwell 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 Burwell'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 Burwell 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
Burwell, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$3,782
Ownwell’s Burwell Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Burwell with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Burwell to estimate your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Burwell, Nebraska
Property taxes in Burwell, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burwell is 1.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Burwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burwell 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 Burwell's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68823 zip code has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Burwell provides valuable insights into the varying tax landscape across Valley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burwell Tax Rate
1.30%
Average Valley County Tax Rate
1.81%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | 1.13% | 1.29% | 1.30% | 1.45% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Burwell, Nebraska
In Burwell, 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 Valley 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 Burwell, 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 Burwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Burwell is $4,260 in the 68823 zip code, while the lowest is also $4,260 in the same zip code.
Average Burwell Assessed Value
$290,940
Average Valley County Assessed Value
$94,595
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | $91,167 | $154,752 | $290,940 | $480,492 | $570,877 |
Source: Ownwell
Property Tax Bills Across Burwell, Nebraska
In Burwell, Valley County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as location, property size, and improvements can influence the assessed value, leading to variations in tax bills. For instance, the median home price in Burwell is $290,940. Homeowners in the 25th percentile pay around $1,603, while those in the 75th percentile face tax bills of approximately $6,451. At the 90th percentile, the tax bill can reach up to $7,351. These figures highlight the significant impact of property taxes on homeowners, with the local rates slightly varying but generally aligning with the national median property tax rate of 0.99%. This system ensures that property taxes are proportionate to the value of the property, maintaining fairness across the community.
Average Burwell Tax Bill
$4,260
Average Valley County Tax Bill
$1,656
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | $938 | $1,603 | $4,260 | $6,451 | $7,351 |
Source: Ownwell