Newcastle, Nebraska Property Taxes
The median property tax rate in Newcastle, NE is 0.94%, slightly below the national median of 0.99% but significantly lower than the Nebraska state median of 1.75%. With the median home value in Newcastle at $105,365, the typical annual property tax bill is around $1,280, which is much less than the national median of $2,690. Property taxes in Newcastle are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. By understanding Newcastle's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Newcastle or another part of Dixon County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newcastle, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$990
-$10,380
Ownwell’s Newcastle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newcastle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newcastle 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 Newcastle, Nebraska
Property taxes in Newcastle, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newcastle is 1.48%, higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Newcastle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newcastle 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 Newcastle's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68757 zip code has the highest median property tax rate of 1.48%, while the 68757 zip code has the lowest median tax rate of 1.48%. Understanding how these cities compare with Newcastle provides valuable insights into the varying tax landscape across Dixon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newcastle Tax Rate
0.94%
Average Dixon County Tax Rate
1.55%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newcastle, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68757 | 0.90% | 0.92% | 0.94% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Newcastle, Nebraska
In Newcastle, 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 Dixon 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 Newcastle, 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 Newcastle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,280 in zip code 68757, while the lowest is also $1,280 in the same zip code. The median home price in Newcastle stands at $105,365, with tax bills ranging from $658 at the 25th percentile to $4,466 at the 90th percentile.
Average Newcastle Assessed Value
$105,365
Average Dixon County Assessed Value
$96,112
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newcastle, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68757 | $21,569 | $50,488 | $105,365 | $237,055 | $484,441 |
Source: Ownwell
Property Tax Bills Across Newcastle, Nebraska
In Newcastle, located in Dixon County, NE, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The median home price in Newcastle is $105,365. Property taxes are determined by multiplying the assessed value by the local tax rate, which can vary depending on the specific needs and budgets of local government entities, such as schools and infrastructure projects. Homeowners in Newcastle experience a range of tax bills. For instance, the 25th percentile tax bill is $658, while the 75th percentile tax bill is $2,494. At the higher end, the 90th percentile tax bill reaches $4,466. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Newcastle's tax rates can significantly impact homeowners. Those with properties in the highest median tax bill zip code, 68757, face an annual tax bill of $1,280. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Newcastle Tax Bill
$1,280
Average Dixon County Tax Bill
$1,568
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Newcastle, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68757 | $300 | $658 | $1,280 | $2,494 | $4,466 |
Source: Ownwell