Culbertson, Nebraska Property Taxes
The median property tax rate in Culbertson, NE is 1.04%, slightly higher than the national median of 0.99% but significantly lower than the Nebraska state median of 1.75%. With the median home value in Culbertson at $185,582, the typical annual property tax bill amounts to $1,972, which is below the national median of $2,690. Property taxes in Culbertson are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Culbertson'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 Culbertson 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
Culbertson, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,930
-$20,227
Ownwell’s Culbertson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Culbertson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Culbertson 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 Culbertson, Nebraska
Property taxes in Culbertson, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Culbertson is 1.25%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Culbertson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culbertson 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 Culbertson's effective property tax rate to other counties in Nebraska and the national median. For comparison, the highest median property tax rate in the region is also found in Culbertson at 1.25%, while the lowest median tax rate is also 1.25%. Understanding how these cities compare with Culbertson provides valuable insights into the varying tax landscape across Hayes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culbertson Tax Rate
1.04%
Average Hayes County Tax Rate
1.18%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culbertson, Nebraska
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
69024 | 1.03% | 1.03% | 1.04% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Culbertson, Nebraska
In Culbertson, 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 Hayes County 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 Culbertson, 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 Culbertson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 69024 has the highest median tax bill at $1972, which is also the lowest median tax bill in the region.
Average Culbertson Assessed Value
$185,582
Average Hayes County Assessed Value
$126,295
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culbertson, Nebraska
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
69024 | $88,176 | $122,568 | $185,582 | $408,562 | $496,735 |
Source: Ownwell
Property Tax Bills Across Culbertson, Nebraska
In Culbertson, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. Homeowners in Culbertson can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is $1,376, while the 75th percentile tax bill reaches $4,250. The 90th percentile tax bill can go up to $5,306. These variations reflect differences in property values and the specific characteristics of each property. Comparatively, the median home price in Culbertson is $185,582, and the median property tax rate in Hayes County is slightly above the national median of 0.99%. This means that homeowners in Culbertson may experience higher property taxes than the national average, impacting their overall cost of homeownership.
Average Culbertson Tax Bill
$1,972
Average Hayes County Tax Bill
$1,612
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Culbertson, Nebraska
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
69024 | $969 | $1,376 | $1,972 | $4,250 | $5,306 |
Source: Ownwell