Potter, Nebraska Property Taxes
The median property tax rate in Potter, NE is 1.81%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Potter at $95,695, the typical annual property tax bill reaches $1,613, which is below the national median of $2,690. Property taxes in Potter 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 Potter'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 Potter 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
Potter, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.81%
Estimate Property Tax Bill
$1,732
$1,607
Ownwell’s Potter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Potter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Potter 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 Potter, Nebraska
Property taxes in Potter, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Potter is 1.81%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Potter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Potter 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 Potter's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69156 zip code has the highest median property tax rate of 1.81%, while the same zip code also has the lowest median tax rate of 1.81%. Understanding how these cities compare with Potter provides valuable insights into the varying tax landscape across Cheyenne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Potter Tax Rate
1.81%
Average Cheyenne County Tax Rate
2.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Potter, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69156 | 1.34% | 1.36% | 1.81% | 1.81% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Potter, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Potter, Nebraska. The market value represents 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 local 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 Potter, 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 Potter is $95,695, with annual tax bills ranging from $817 at the 25th percentile to $4,532 at the 90th percentile. The highest and lowest median tax bills are both $1,613 in the zip code 69156. 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 the tax burden.
Average Potter Assessed Value
$95,695
Average Cheyenne County Assessed Value
$91,196
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Potter, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69156 | $24,524 | $49,291 | $95,695 | $204,030 | $331,000 |
Source: Ownwell
Property Tax Bills Across Potter, Nebraska
In Potter, NE, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the local tax assessor and is a percentage of the market value. Homeowners in Potter see a wide range of tax bills, influenced by various factors such as property size, location, and improvements. For instance, the median home price in Potter is $95,695, leading to tax bills that can vary significantly. The 25th percentile tax bill is $817, while the 75th percentile tax bill is $2,997, and the 90th percentile tax bill reaches up to $4,532. These tax bills have a substantial impact on homeowners, affecting their annual budgeting and financial planning. Compared to the national median property tax rate of 0.99%, the property tax rates in Potter can be more or less burdensome depending on individual circumstances. Homeowners in the 69156 zip code, for example, experience a median tax bill of $1,613, which is consistent across the area.
Average Potter Tax Bill
$1,613
Average Cheyenne County Tax Bill
$1,857
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Potter, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69156 | $379 | $817 | $1,613 | $2,997 | $4,532 |
Source: Ownwell