Red Cloud, Nebraska Property Taxes
The median property tax rate in Red Cloud, NE is 1.75%, which matches the state median but is considerably higher than the national median of 0.99%. With the median home value in Red Cloud at $53,552, the typical annual property tax bill reaches $851, which is below the national median of $2,690. Property taxes in Red Cloud are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Red Cloud'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 Red Cloud 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
Red Cloud, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$937
Ownwell’s Red Cloud Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Red Cloud with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Red Cloud 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 Red Cloud, Nebraska
Property taxes in Red Cloud, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Red Cloud is 1.75%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Red Cloud set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Cloud 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 Red Cloud's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68970 has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these cities compare with Red Cloud provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Red Cloud Tax Rate
1.75%
Average Webster County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Cloud, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68970 | 1.28% | 1.29% | 1.75% | 1.75% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Red Cloud, Nebraska
In Red Cloud, 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 Webster 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 Red Cloud, 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 Red Cloud helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $851 in the 68970 zip code, reflecting the local property values and tax policies.
Average Red Cloud Assessed Value
$53,552
Average Webster County Assessed Value
$71,225
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Red Cloud, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68970 | $8,202 | $20,545 | $53,552 | $120,976 | $242,144 |
Source: Ownwell
Property Tax Bills Across Red Cloud, Nebraska
In Red Cloud, located in Webster County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $53,552, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the home's market value, local government budgets, and specific property characteristics all play a role in the final tax amount. For homeowners in Red Cloud, property tax bills can vary significantly. The 25th percentile of tax bills is around $332, while the 75th percentile reaches $1,938. At the 90th percentile, homeowners might see bills as high as $3,557. The median tax bill in the area is $851, which is lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, roads, and emergency services, directly impacting the quality of life for residents.
Average Red Cloud Tax Bill
$851
Average Webster County Tax Bill
$1,254
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Cloud, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68970 | $123 | $332 | $851 | $1,938 | $3,557 |
Source: Ownwell