De Witt, Nebraska Property Taxes
The median property tax rate in DE WITT, NE is 1.16%, which is higher than the national median of 0.99%, yet lower than the Nebraska state median of 1.75%. With a median home value of $241,225, the typical annual property tax bill in DE WITT reaches $3,025, surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding DE WITT'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 DE WITT 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
De Witt, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$2,798
Ownwell’s DE WITT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DE WITT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE WITT 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 De Witt, Nebraska
Property taxes in De Witt, Nebraska, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in De Witt is 1.16%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within De Witt set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Witt 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 De Witt's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68341 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with De Witt provides valuable insights into the varying tax landscape across Gage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Witt Tax Rate
1.16%
Average Gage County Tax Rate
1.83%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Witt, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68341 | 1.14% | 1.15% | 1.16% | 1.16% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across De Witt, Nebraska
In DE WITT, Nebraska, understanding the difference between "market value" and "assessed value" is essential 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 local 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 DE WITT, 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 DE WITT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68341 has the highest and lowest median tax bill in the area, both at $3025.
Average De Witt Assessed Value
$241,225
Average Gage County Assessed Value
$108,335
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Witt, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68341 | $108,697 | $180,251 | $241,225 | $439,045 | $640,805 |
Source: Ownwell
Property Tax Bills Across De Witt, Nebraska
In De Witt, located in Gage County, NE, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value. The local tax rate is then applied to this assessed value to calculate the tax bill. For instance, with a median home price of $241,225, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is approximately $1,853, while at the 75th percentile, it rises to about $5,382. The 90th percentile sees tax bills as high as $8,432. These tax rates and assessments significantly impact homeowners, as higher property values and tax rates lead to increased financial obligations. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens. Understanding these factors helps homeowners in De Witt anticipate and manage their annual property tax expenses effectively.
Average De Witt Tax Bill
$3,025
Average Gage County Tax Bill
$1,782
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across De Witt, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68341 | $811 | $1,853 | $3,025 | $5,382 | $8,432 |
Source: Ownwell