Mullen, Nebraska Property Taxes
The median property tax rate in Mullen, NE is 0.71%, notably lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Mullen at $184,349, the typical annual property tax bill amounts to $1,406, which is significantly below the national median of $2,690. Property taxes in Mullen are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mullen'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 Mullen or another part of Cherry County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mullen, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,309
Ownwell’s Mullen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mullen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mullen 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 Mullen, Nebraska
Property taxes in Mullen, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mullen is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Mullen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mullen 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 Mullen's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69152 zip code has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Mullen provides valuable insights into the varying tax landscape across Cherry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mullen Tax Rate
0.71%
Average Cherry County Tax Rate
0.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mullen, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69152 | 0.25% | 0.42% | 0.71% | 0.76% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Mullen, Nebraska
In Mullen, 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 Cherry 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 Mullen, 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 Mullen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Mullen, the highest median tax bill is $1406 in the 69152 zip code, matching the lowest median tax bill, which is also $1406 in the same zip code.
Average Mullen Assessed Value
$184,349
Average Cherry County Assessed Value
$139,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mullen, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69152 | $150,786 | $163,372 | $184,349 | $190,650 | $194,431 |
Source: Ownwell
Property Tax Bills Across Mullen, Nebraska
In Mullen, located in Cherry County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. These values are then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Mullen, the median home price is $184,349. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is $798, while the 75th percentile tax bill reaches $1,440. Several factors influence the tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions. These bills can have a substantial impact on homeowners, affecting their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, the tax rates in Mullen reflect local economic conditions and funding requirements for public services. Understanding these factors is crucial for homeowners to manage their expenses effectively and anticipate annual property tax obligations.
Average Mullen Tax Bill
$1,406
Average Cherry County Tax Bill
$1,288
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Mullen, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69152 | $434 | $798 | $1,406 | $1,440 | $1,460 |
Source: Ownwell