Rising City, Nebraska Property Taxes
The median property tax rate in Rising City, NE is 1.49%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Rising City at $126,908, the typical annual property tax bill reaches $1,735, which is below the national median of $2,690. Property taxes in Rising City 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 Rising City'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 Rising City 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
Rising City, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,891
$1,755
Ownwell’s Rising City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rising City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rising City 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 Rising City, Nebraska
Property taxes in Rising City, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rising City is 1.49%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Rising City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rising City 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 Rising City's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68658 has the highest median property tax rate of 1.49%, while the same zip code also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Rising City 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 Rising City Tax Rate
1.49%
Average Butler County Tax Rate
1.49%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rising City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68658 | 1.06% | 1.07% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Rising City, Nebraska
In Rising City, 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 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 Rising City, 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. For instance, the median home price in Rising City is $126,908, with tax bills ranging from $826 at the 25th percentile to $7,415 at the 90th percentile. The zip code 68658 has the highest and lowest median tax bill, both at $1,735. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Rising City Assessed Value
$126,908
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 Rising City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68658 | $26,906 | $66,106 | $126,908 | $265,488 | $679,860 |
Source: Ownwell
Property Tax Bills Across Rising City, Nebraska
In Rising City, located in Butler County, NE, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For instance, if your home has a median market value of $126,908, the assessed value will be a portion of this amount, as determined by local regulations. The property tax rate is then applied to the assessed value to calculate the annual tax bill. Several factors influence your tax bill, including the property's location, size, and any improvements made. Homeowners in Rising City can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is around $826, while the 75th percentile reaches up to $3,237, and the 90th percentile can be as high as $7,415. Compared to the national median property tax rate of 0.99%, Rising City's property tax bills can be quite variable, affecting homeowners differently based on their property's assessed value and specific circumstances.
Average Rising City Tax Bill
$1,735
Average Butler County Tax Bill
$1,858
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Rising City, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68658 | $319 | $826 | $1,735 | $3,237 | $7,415 |
Source: Ownwell