Culbertson, Nebraska Property Taxes
The median property tax rate in Culbertson, Nebraska is 1.73%, slightly lower than the state median of 1.75% but still considerably higher than the national median of 0.99%. With the median home value in Culbertson at $81,415, the typical annual property tax bill reaches $1,299, 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 the 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 Hitchcock County, 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
1.73%
Estimate Property Tax Bill
$1,408
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Culbertson is 1.73%, significantly higher than both the Nebraska state median 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 zip code 69024 has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Culbertson provides valuable insights into the varying tax landscape across Hitchcock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culbertson Tax Rate
1.73%
Average Hitchcock County Tax Rate
1.38%
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 | 1.30% | 1.31% | 1.73% | 1.74% | 1.74% |
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 Hitchcock 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 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 median home price in Culbertson is $81,415, with tax bills ranging from $612 at the 25th percentile to $4,683 at the 90th percentile. The zip code 69024 has the highest and lowest median tax bill of $1,299.
Average Culbertson Assessed Value
$81,415
Average Hitchcock County Assessed Value
$55,428
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 | $21,090 | $38,865 | $81,415 | $173,520 | $354,549 |
Source: Ownwell
Property Tax Bills Across Culbertson, Nebraska
In Culbertson, located in Hitchcock County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Culbertson experience a range of property tax bills, with the 25th percentile paying around $612 and the 75th percentile facing bills as high as $2,534. For those at the 90th percentile, tax bills can soar to $4,683. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Culbertson homeowners may find their tax burden relatively moderate, though it varies significantly based on individual property values. Understanding these factors is crucial for homeowners as property taxes can significantly impact annual household expenses, influencing decisions about buying or maintaining property in the area.
Average Culbertson Tax Bill
$1,299
Average Hitchcock County Tax Bill
$860
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 | $301 | $612 | $1,299 | $2,534 | $4,683 |
Source: Ownwell