Brainard, Nebraska Property Taxes
The median property tax rate in Brainard, Nebraska is 1.20%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $181,710 in Brainard, the typical annual property tax bill reaches $2,340, which is below the national median of $2,690. Property taxes in Brainard are calculated based on the assessed value, often lower than market value due to exemptions like primary residence and agricultural exemptions. Understanding Brainard'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 Brainard or another part of Butler County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brainard, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,181
Ownwell’s Brainard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brainard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brainard 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 Brainard, Nebraska
Property taxes in Brainard, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brainard is 1.20%, significantly higher than the U.S. national median of 0.99%. Local government entities within Brainard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brainard 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 Brainard's effective property tax rate to other areas in Butler County and the national median. For comparison, the 68626 zip code has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these areas compare with Brainard provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brainard Tax Rate
1.20%
Average Butler County Tax Rate
1.49%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brainard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68626 | 1.05% | 1.06% | 1.20% | 1.52% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Brainard, Nebraska
In Brainard, 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 Butler 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 Brainard, 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 Brainard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68626 has the highest and lowest median tax bill at $2,340.
Average Brainard Assessed Value
$181,710
Average Butler County Assessed Value
$140,672
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brainard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68626 | $41,682 | $93,942 | $181,710 | $324,830 | $722,359 |
Source: Ownwell
Property Tax Bills Across Brainard, Nebraska
In Brainard, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor in Butler County. The assessed value is often a percentage of the market value of the property. For instance, if the median home price in Brainard is $181,710, the assessed value will be a fraction of this amount, depending on local regulations. Once the assessed value is established, the local property tax rate is applied to calculate the tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific needs of local government budgets. In Brainard, homeowners can expect tax bills to vary widely. For example, the 25th percentile tax bill is around $1,215, while the 75th percentile reaches up to $4,174. The highest median tax bill in the area stands at $2,340 in the zip code 68626, which is still below the national median property tax rate of 0.99%. This variability can significantly impact homeowners, influencing their annual budgeting and long-term financial planning.
Average Brainard Tax Bill
$2,340
Average Butler County Tax Bill
$1,858
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Brainard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68626 | $585 | $1,215 | $2,340 | $4,174 | $7,552 |
Source: Ownwell