Benkelman, Nebraska Property Taxes
The median property tax rate in Benkelman, NE is 1.23%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $59,630, the typical annual property tax bill in Benkelman amounts to $714, significantly below the national median of $2,690. Property taxes in Benkelman are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Benkelman's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Benkelman or another part of Dundy County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Benkelman, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$733
Ownwell’s Benkelman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Benkelman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Benkelman 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 Benkelman, Nebraska
Property taxes in Benkelman, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Benkelman is 1.23%, which is higher than the U.S. national median of 0.99%. Local government entities within Benkelman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Benkelman 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 Benkelman's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69021 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Benkelman provides valuable insights into the varying tax landscape across Dundy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Benkelman Tax Rate
1.23%
Average Dundy County Tax Rate
1.23%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benkelman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69021 | 0.87% | 0.88% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Benkelman, Nebraska
In Benkelman, 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 Dundy 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 Benkelman, 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 Benkelman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Benkelman are both $714, found in the zip code 69021.
Average Benkelman Assessed Value
$59,630
Average Dundy County Assessed Value
$60,885
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benkelman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69021 | $10,428 | $25,954 | $59,630 | $149,140 | $360,892 |
Source: Ownwell
Property Tax Bills Across Benkelman, Nebraska
In Benkelman, located in Dundy County, NE, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For example, with a median home price of $59,630, the property tax bill can vary significantly. Factors such as the property’s location, size, and any improvements made to it play a role in determining the assessed value. Homeowners in Benkelman can expect their tax bills to fall within a broad range. The 25th percentile tax bill is around $313, while at the 75th percentile, it reaches about $1,584. For those at the higher end, the 90th percentile tax bill can be as much as $3,494. The median tax bill in the area is $714, which is notably below the national median property tax rate of 0.99%. These taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Benkelman Tax Bill
$714
Average Dundy County Tax Bill
$729
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Benkelman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69021 | $117 | $313 | $714 | $1,584 | $3,494 |
Source: Ownwell