Garrison, Nebraska Property Taxes
The median property tax rate in Garrison, NE is 1.13%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Garrison at $27,358, the typical annual property tax bill amounts to $158, significantly below the national median of $2,690. Property taxes in Garrison are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Garrison's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in Garrison or investing in the area, a thorough grasp of the local property tax system can offer considerable financial benefits.
Last Updated June 14, 2024
Garrison, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$309
Ownwell’s Garrison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garrison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garrison 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 Garrison, Nebraska
Property taxes in Garrison, Nebraska, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garrison is 1.13%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Garrison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garrison 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 Garrison's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68632 has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Garrison 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 Garrison Tax Rate
1.13%
Average Butler County Tax Rate
1.49%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garrison, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68632 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Garrison, Nebraska
In Garrison, 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 Assessor's Office 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 Garrison, 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. The median home price in Garrison is $27,358, with the 25th percentile tax bill at $37 and the 75th percentile tax bill at $461. The highest median tax bill is $158 in zip code 68632, which is also the lowest median 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 Garrison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Garrison Assessed Value
$27,358
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 Garrison, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68632 | $2,390 | $5,925 | $27,358 | $45,340 | $53,560 |
Source: Ownwell
Property Tax Bills Across Garrison, Nebraska
In Garrison, property tax bills are calculated based on the assessed value of the property, which is derived from the market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Garrison, the median home price is $27,358, and the tax bills vary significantly, with the 25th percentile at $37 and the 75th percentile at $461. The highest median tax bill in the area is $158, found in the 68632 zip code. Compared to the national median property tax rate of 0.99%, Garrison's property tax rates are relatively modest. This can be beneficial for homeowners, as lower property taxes can make owning a home more affordable. However, it also means that local services funded by property taxes, such as schools and infrastructure, may receive less funding. Understanding these factors can help homeowners in Garrison better anticipate their annual property tax obligations and plan accordingly.
Average Garrison Tax Bill
$158
Average Butler County Tax Bill
$1,858
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Garrison, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68632 | $25 | $37 | $158 | $461 | $593 |
Source: Ownwell