Venango, Nebraska Property Taxes
The median property tax rate in Venango, NE is 0.86%, notably lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Venango at $199,721, the typical annual property tax bill amounts to $1,692, which is significantly less than the national median of $2,690. Property taxes in Venango are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Venango's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you reside in the heart of Venango or another part of the city, gaining insight into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Venango, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,718
$1,594
Ownwell’s Venango Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Venango using just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Venango to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Venango, Nebraska
Property taxes in Venango, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Venango is 1.49%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Venango set these rates annually, and they can vary significantly across different neighborhoods. Each year, Venango 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 Venango's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69168 zip code 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 Venango provides valuable insights into the varying tax landscape across Chase County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Venango Tax Rate
0.86%
Average Chase County Tax Rate
1.56%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Venango, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69168 | 0.85% | 0.85% | 0.86% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Venango, Nebraska
In Venango, 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 Chase 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 Venango, 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 Venango helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Venango are both $1,692, found in zip code 69168.
Average Venango Assessed Value
$199,721
Average Chase County Assessed Value
$109,606
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Venango, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69168 | $64,212 | $133,188 | $199,721 | $278,972 | $370,175 |
Source: Ownwell
Property Tax Bills Across Venango, Nebraska
In Venango, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. This assessed value is then multiplied by the tax rate set by various taxing authorities, such as school districts, municipalities, and other local government entities. The median home price in Venango is $199,721, and the property tax rate is influenced by the specific needs and budgets of these authorities. For homeowners in Venango, the annual property tax bill can vary significantly. The 25th percentile tax bill is around $1,128, while the 75th percentile tax bill reaches approximately $2,412. At the higher end, the 90th percentile tax bill can be as much as $3,214. These figures indicate a range of potential tax burdens, reflecting differences in property values and applicable tax rates. Compared to the national median property tax rate of 0.99%, Venango's property tax bills provide a clear picture of how local factors influence the financial responsibilities of homeowners in this area.
Average Venango Tax Bill
$1,692
Average Chase County Tax Bill
$1,428
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Venango, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69168 | $545 | $1,128 | $1,692 | $2,412 | $3,214 |
Source: Ownwell