Burwell, Nebraska Property Taxes
The median property tax rate in Burwell, NE, is 1.53%, which is significantly higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With the median home value in Burwell at $108,403, the typical annual property tax bill reaches $2,050, falling short of the national median of $2,690. Property taxes in Burwell are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burwell'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 Burwell 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
Burwell, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$1,659
$1,539
Ownwell’s Burwell Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Burwell. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Burwell to provide an accurate estimate of your property tax bill. This helps you gain a clear understanding of your potential tax liabilities. For those interested in more detailed insights, localized information on neighborhood trends is available by scrolling down. Remember, your property’s assessed value is determined by Garfield County for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Burwell, Nebraska
Property taxes in Burwell, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burwell is 1.53%, significantly higher than the U.S. national median of 0.99%. Local government entities within Burwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burwell 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 Burwell's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68823 has the highest and lowest median property tax rate of 1.53%. Understanding how these cities compare with Burwell provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burwell Tax Rate
1.53%
Average Garfield County Tax Rate
1.40%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | 1.38% | 1.40% | 1.53% | 2.12% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Burwell, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Burwell, Nebraska. 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 Garfield 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 Burwell, 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 median home price in Burwell is $108,403, with tax bills ranging from $1,163 at the 25th percentile to $5,510 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burwell Assessed Value
$108,403
Average Garfield County Assessed Value
$110,466
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | $30,664 | $60,933 | $108,403 | $221,357 | $364,711 |
Source: Ownwell
Property Tax Bills Across Burwell, Nebraska
In Burwell, property tax bills are calculated based on the assessed value of a property, which is determined by the Garfield County assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For instance, a home in Burwell with a median home price of $108,403 can expect a tax bill ranging from $1,163 at the 25th percentile to $5,510 at the 90th percentile. These figures reflect the variability in property values and the corresponding tax obligations. Homeowners in Burwell can compare their tax rates to the national median property tax rate of 0.99%, offering a perspective on how local taxes measure up against national standards. The financial impact on homeowners can be significant, as higher property taxes can affect overall affordability and long-term investment in their homes.
Average Burwell Tax Bill
$2,050
Average Garfield County Tax Bill
$2,095
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | $538 | $1,163 | $2,050 | $3,624 | $5,510 |
Source: Ownwell