Craig, Nebraska Property Taxes
The median property tax rate in Craig, NE is 1.46%, which is considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $102,860 in Craig, the typical annual property tax bill reaches $1,555, which is below the national median of $2,690. Property taxes in Craig are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Craig'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 Craig 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
Craig, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$1,502
Ownwell’s Craig Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Craig with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Craig 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 Craig, Nebraska
Property taxes in Craig, Nebraska, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Craig is 1.46%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Craig set these rates annually, and they can vary significantly across different neighborhoods. Each year, Craig 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 Craig's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68019 has the highest median property tax rate of 1.46%, while also having the lowest median tax rate of 1.46%. Understanding how these cities compare with Craig provides valuable insights into the varying tax landscape across Burt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Craig Tax Rate
1.46%
Average Burt County Tax Rate
2.13%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Craig, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68019 | 1.21% | 1.24% | 1.46% | 2.15% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Craig, Nebraska
In Craig, 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 Burt 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 Craig, 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 Craig helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Burt County, the highest and lowest median tax bills are both $1,555, found in the zip code 68019.
Average Craig Assessed Value
$102,860
Average Burt County Assessed Value
$83,382
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Craig, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68019 | $15,629 | $40,146 | $102,860 | $240,388 | $532,044 |
Source: Ownwell
Property Tax Bills Across Craig, Nebraska
In Craig, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Craig, the median home price is $102,860, and the tax rates vary significantly across different percentiles. For example, homeowners at the 25th percentile of tax bills pay around $743 annually, while those at the 75th percentile face a tax bill of approximately $3,479. At the 90th percentile, the tax bill can soar to $7,168. These variations highlight the impact of property values and local tax rates on homeowners’ expenses. Compared to the national median property tax rate of 0.99%, Craig’s property tax bills can be quite variable, affecting homeowners differently based on their property’s assessed value. Understanding these factors can help homeowners better anticipate their annual property tax obligations and budget accordingly.
Average Craig Tax Bill
$1,555
Average Burt County Tax Bill
$1,641
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Craig, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68019 | $255 | $743 | $1,555 | $3,479 | $7,168 |
Source: Ownwell