Big Springs, Nebraska Property Taxes
The median property tax rate in BIG SPRINGS, NE is 1.01%, slightly higher than the national median of 0.99% but significantly lower than the Nebraska state median of 1.75%. With a median home value of $196,570 in BIG SPRINGS, the typical annual property tax bill amounts to $2,275, which is below the national median of $2,690. Property taxes in BIG SPRINGS are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding the property tax system in BIG SPRINGS, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of BIG SPRINGS or another part of Perkins County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Big Springs, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,985
Ownwell’s BIG SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BIG SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BIG SPRINGS 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 Big Springs, Nebraska
Property taxes in Big Springs, Nebraska, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Springs is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Big Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Springs 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 Big Springs' effective property tax rate to other areas in Perkins County and the national median. For comparison, the zip code 69122 has both the highest and lowest median property tax rate of 1.01%. Understanding how these areas compare with Big Springs provides valuable insights into the varying tax landscape across Perkins County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Springs Tax Rate
1.01%
Average Perkins County Tax Rate
1.33%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Springs, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69122 | 0.88% | 1.01% | 1.01% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Big Springs, Nebraska
In BIG SPRINGS, 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 Perkins 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 BIG SPRINGS, 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 BIG SPRINGS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In ZIP code 69122, the median tax bill is $2,275, highlighting the importance of understanding these processes to potentially reduce your tax burden.
Average Big Springs Assessed Value
$196,570
Average Perkins County Assessed Value
$109,935
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Springs, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69122 | $69,177 | $111,180 | $196,570 | $340,371 | $482,785 |
Source: Ownwell
Property Tax Bills Across Big Springs, Nebraska
In Big Springs, located in Perkins 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 Big Springs can expect their tax bills to vary significantly depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $929, while at the 75th percentile, it rises to $3,439. At the 90th percentile, homeowners may see tax bills as high as $4,875. The median home price in Big Springs is $196,570, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, the tax rates in Big Springs can be a crucial factor for homeowners. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners must understand these factors to manage their finances effectively and anticipate annual property tax obligations.
Average Big Springs Tax Bill
$2,275
Average Perkins County Tax Bill
$1,412
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Springs, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69122 | $561 | $929 | $2,275 | $3,439 | $4,875 |
Source: Ownwell