Berwyn, Nebraska Property Taxes
The median property tax rate in Berwyn, NE is 1.62%, 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 Berwyn at $64,080, the typical annual property tax bill reaches $1,041, which is below the national median of $2,690. Property taxes in Berwyn 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 Berwyn'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 Berwyn 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
Berwyn, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$1,038
$963
Ownwell’s Berwyn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berwyn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berwyn 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 Berwyn, Nebraska
Property taxes in Berwyn, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berwyn is 1.62%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Berwyn set these rates annually, and they can vary considerably across different neighborhoods. Each year, Berwyn 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 Berwyn's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68814 has both the highest and lowest median property tax rate of 1.62%. Understanding how these areas compare with Berwyn provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berwyn Tax Rate
1.62%
Average Custer County Tax Rate
1.38%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berwyn, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68814 | 1.62% | 1.62% | 1.62% | 1.62% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Berwyn, Nebraska
In Berwyn, 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 Custer 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 Berwyn, 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 Berwyn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Berwyn are both $1,041, found in zip code 68814.
Average Berwyn Assessed Value
$64,080
Average Custer County Assessed Value
$99,711
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berwyn, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68814 | $64,080 | $64,080 | $64,080 | $64,080 | $64,080 |
Source: Ownwell
Property Tax Bills Across Berwyn, Nebraska
In Berwyn, located in Custer County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. The tax rate is applied to this assessed value to determine the annual property tax bill. For example, in Berwyn, the median home price is $64,080, and homeowners can expect a median tax bill of $1,041. This figure is consistent across the 25th, 75th, and 90th percentiles, indicating a uniform tax rate application within this area. Compared to the national median property tax rate of 0.99%, Berwyn's rate results in a higher-than-average tax bill relative to the property value. These property taxes fund local services such as schools, roads, and emergency services, directly impacting the community's quality of life. Homeowners need to consider these taxes as a significant part of their annual housing costs.
Average Berwyn Tax Bill
$1,041
Average Custer County Tax Bill
$1,435
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Berwyn, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68814 | $1,041 | $1,041 | $1,041 | $1,041 | $1,041 |
Source: Ownwell