Big Springs, Nebraska Property Taxes
The median property tax rate in Big Springs, NE is 0.87%, which is notably lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $199,542 in Big Springs, the typical annual property tax bill amounts to $1,722, falling well below the national median of $2,690. Property taxes in Big Springs are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Big Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Big Springs 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
Big Springs, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,736
Ownwell’s BIG SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BIG SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BIG SPRINGS 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 Big Springs, Nebraska
Property taxes in Big Springs, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Springs is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Big Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Springs 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 Big Springs' effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 69122 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Big Springs provides valuable insights into the varying tax landscape across Garden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Springs Tax Rate
0.87%
Average Garden County Tax Rate
1.21%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Springs, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69122 | 0.40% | 0.66% | 0.87% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Big Springs, Nebraska
In Big Springs, 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 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 Big Springs, 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 Big Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Big Springs are both $1,722, corresponding to the zip code 69122.
Average Big Springs Assessed Value
$199,542
Average Garden County Assessed Value
$72,185
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Springs, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69122 | $118,757 | $157,594 | $199,542 | $250,778 | $306,334 |
Source: Ownwell
Property Tax Bills Across Big Springs, Nebraska
In Big Springs, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Key factors influencing the tax bill include the property's market value, the assessment ratio, and the local tax rate set by Garden County authorities. For homeowners in Big Springs, the median home price is $199,542. At the 25th percentile, property tax bills are around $1,295, while at the 75th percentile, they rise to approximately $2,130. Homeowners at the 90th percentile can expect tax bills around $2,751. These figures show that property taxes can vary significantly based on the assessed value of the home. The median property tax rate in Big Springs is notably higher than the national median of 0.99%, reflecting the local government’s funding needs for public services. This variation in property tax bills affects homeowners by influencing their annual housing costs and potentially impacting their long-term financial planning.
Average Big Springs Tax Bill
$1,722
Average Garden County Tax Bill
$810
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Springs, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69122 | $640 | $1,295 | $1,722 | $2,130 | $2,751 |
Source: Ownwell