Beatrice, Nebraska Property Taxes
The median property tax rate in Beatrice, NE is 1.19%, slightly above the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $153,200 in Beatrice, the typical annual property tax bill amounts to $1,825, which is below the national median of $2,690. Property taxes in Beatrice are determined 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. Gaining a thorough understanding of Beatrice's property tax system, exploring available exemptions, and identifying potential reductions can result in considerable annual savings. Whether you're situated in the heart of Beatrice or another part of the city, familiarizing yourself with the local property tax system can greatly benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beatrice, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$1,823
$1,692
Ownwell’s Beatrice Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beatrice with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beatrice 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 Beatrice, Nebraska
Property taxes in Beatrice, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beatrice is 1.19%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Beatrice set these rates annually, and they can vary across different neighborhoods. Each year, Beatrice 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 Beatrice's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68310 has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Beatrice provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beatrice Tax Rate
1.19%
Average Jefferson County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beatrice, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68310 | 1.18% | 1.19% | 1.19% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Beatrice, Nebraska
In Beatrice, 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 Jefferson 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 Beatrice, 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 Beatrice helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 68310, with a median tax bill of $1,825.
Average Beatrice Assessed Value
$153,200
Average Jefferson County Assessed Value
$68,781
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beatrice, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68310 | $114,370 | $139,933 | $153,200 | $315,199 | $698,875 |
Source: Ownwell
Property Tax Bills Across Beatrice, Nebraska
Property tax bills in Beatrice, located in Jefferson County, NE, are calculated based on the assessed value of a property and the local tax rate. The process begins with the county assessor determining the market value of the home, which is then assessed to reflect a taxable value. This assessed value is multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and improvements. For instance, the median home price in Beatrice is $153,200. Homeowners in the 25th percentile can expect a tax bill around $1,707, while those in the 75th percentile may see bills as high as $3,730. The highest median tax bill in the area is recorded at $1,825. Compared to the national median property tax rate of 0.99%, homeowners in Beatrice experience a relatively moderate property tax burden. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Beatrice Tax Bill
$1,825
Average Jefferson County Tax Bill
$1,295
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Beatrice, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68310 | $1,395 | $1,707 | $1,825 | $3,730 | $8,320 |
Source: Ownwell