Bennington, Nebraska Property Taxes
The median property tax rate in Bennington, NE is 2.26%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Bennington, the typical annual property tax bill reaches $6,953, exceeding the national median of $2,690. Property taxes in Bennington 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 Bennington'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 Bennington 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
Bennington, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.26%
Estimate Property Tax Bill
$6,873
Ownwell’s Bennington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bennington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bennington 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 Bennington, Nebraska
Property taxes in Bennington, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bennington is 1.77%, which is significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Bennington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bennington 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 Bennington's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68007 zip code has the highest median property tax rate of 1.77%, while the same zip code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with Bennington provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bennington Tax Rate
2.26%
Average Douglas County Tax Rate
1.96%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bennington, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68007 | 1.81% | 1.99% | 2.26% | 2.58% | 2.81% |
Source: Ownwell
Property Tax Assessment Values Across Bennington, Nebraska
In Bennington, 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 Douglas 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 Bennington, 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. The highest median tax bill in Bennington is $6,953 in the 68007 zip code. Being aware of these valuation processes in Bennington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bennington Assessed Value
$304,100
Average Douglas County Assessed Value
$206,800
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bennington, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68007 | $42,810 | $209,700 | $304,100 | $392,625 | $481,390 |
Source: Ownwell
Property Tax Bills Across Bennington, Nebraska
In Bennington, 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 reflects a percentage of the market value of the property. For example, in Douglas County, the median home price is $304,100. Homeowners in Bennington can expect their tax bills to vary significantly, with the 25th percentile at $4,880 and the 75th percentile reaching up to $9,122. The 90th percentile even sees tax bills as high as $11,263. These figures indicate that property taxes in Bennington can have a substantial impact on homeowners, particularly when compared to the national median property tax rate of 0.99%. The highest median tax bill in the area is $6,953, which can be found in the 68007 zip code. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Bennington Tax Bill
$6,953
Average Douglas County Tax Bill
$3,997
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Bennington, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68007 | $1,201 | $4,880 | $6,953 | $9,122 | $11,263 |
Source: Ownwell