Bruning, Nebraska Property Taxes
The median property tax rate in Bruning, NE is 0.83%, which is lower than both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in Bruning at $236,955, the typical annual property tax bill comes to $2,310, slightly below the national median of $2,690. Property taxes in Bruning are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Bruning'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 Bruning or another part of Fillmore County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bruning, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,967
$1,825
Ownwell’s Bruning Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bruning with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bruning 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 Bruning, Nebraska
Property taxes in Bruning, Nebraska, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Bruning is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Bruning set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bruning 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 Bruning's effective property tax rate to other areas and the national median. For comparison, the zip code 68322 has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these rates compare with Bruning provides valuable insights into the varying tax landscape across Fillmore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bruning Tax Rate
0.83%
Average Fillmore County Tax Rate
1.63%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bruning, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68322 | 0.80% | 0.81% | 0.83% | 0.83% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Bruning, Nebraska
In Bruning, 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 Fillmore 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 Bruning, 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 Bruning helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in the area is 68322, both at $2,310.
Average Bruning Assessed Value
$236,955
Average Fillmore County Assessed Value
$93,580
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bruning, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68322 | $92,694 | $131,892 | $236,955 | $501,754 | $1,003,768 |
Source: Ownwell
Property Tax Bills Across Bruning, Nebraska
Property tax bills in Bruning, located in Fillmore County, NE, are calculated based on the assessed value of a property, which is determined by the county assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Bruning is $236,955, which, when compared to the national median property tax rate of 0.99%, can give a rough idea of potential tax obligations. Several factors influence the tax bill, including the property's location, its assessed value, and any applicable exemptions or deductions. For instance, tax bills can vary significantly within the county, as indicated by the 25th percentile tax bill of $1,184 and the 90th percentile tax bill of $8,109. Homeowners must keep these variations in mind, as property taxes can impact their overall financial planning and home affordability. Understanding these factors can help homeowners better anticipate their annual tax obligations and manage their budgets effectively.
Average Bruning Tax Bill
$2,310
Average Fillmore County Tax Bill
$1,380
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Bruning, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68322 | $681 | $1,184 | $2,310 | $4,109 | $8,109 |
Source: Ownwell