Valentine, Nebraska Property Taxes
The median property tax rate in Valentine, NE is 0.68%, considerably lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Valentine, the typical annual property tax bill reaches $3,779, exceeding the national median of $2,690. Property taxes in Valentine are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Valentine’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 Valentine 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
Valentine, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$3,804
Ownwell’s Valentine Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Valentine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valentine to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, scrolling down will reveal 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 Valentine, Nebraska
Property taxes in Valentine, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valentine is 0.68%, lower than the U.S. national median of 0.99%. Local government entities within Valentine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valentine 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 Valentine's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69201 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Valentine provides valuable insights into the varying tax landscape across Keya Paha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valentine Tax Rate
0.68%
Average Keya Paha County Tax Rate
0.67%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valentine, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69201 | 0.68% | 0.68% | 0.68% | 0.68% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Valentine, Nebraska
In Valentine, 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 Keya Paha 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 Valentine, 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 Valentine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Valentine are both $3,779, found in the 69201 zip code.
Average Valentine Assessed Value
$559,430
Average Keya Paha County Assessed Value
$99,585
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valentine, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69201 | $87,056 | $87,800 | $559,430 | $656,260 | $861,430 |
Source: Ownwell
Property Tax Bills Across Valentine, Nebraska
In Valentine, located in Keya Paha County, NE, property tax bills are determined by 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. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Valentine is $559,430. Homeowners in Valentine experience a range of property tax bills. At the 25th percentile, the tax bill is $601, while at the 75th percentile, it rises to $4,436. For those at the 90th percentile, the tax bill can reach up to $5,827. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, homeowners in Valentine may find their tax bills significantly higher or lower depending on their property's assessed value and the applicable tax rate. This variability can have a substantial impact on homeowners' annual financial planning.
Average Valentine Tax Bill
$3,779
Average Keya Paha County Tax Bill
$892
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Valentine, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69201 | $600 | $601 | $3,779 | $4,436 | $5,827 |
Source: Ownwell