Venango, Nebraska Property Taxes
The median property tax rate in Venango, NE is 1.41%, considerably higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With the median home value in Venango at $61,575, the typical annual property tax bill reaches $819, which is below the national median of $2,690. Property taxes in Venango 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 Venango'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 Venango 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
Venango, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$868
$806
Ownwell’s Venango Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Venango with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Venango to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed insights, you can explore trends on a neighborhood level by scrolling down for localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Venango, Nebraska
Property taxes in Venango, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Venango is 1.41%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Venango set these rates annually, and they can vary significantly across different neighborhoods. Each year, Venango 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 Venango's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69168 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Venango 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 Venango Tax Rate
1.41%
Average Perkins County Tax Rate
1.33%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Venango, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69168 | 1.03% | 1.05% | 1.41% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Venango, Nebraska
In Venango, 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 Assessment Office 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 Venango, 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. The median home price in Venango is $61,575, with annual tax bills ranging from $443 at the 25th percentile to $2,953 at the 90th percentile. The zip code 69168 has the highest and lowest median tax bill at $819. Being aware of these valuation processes in Venango helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Venango Assessed Value
$61,575
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 Venango, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69168 | $13,772 | $30,885 | $61,575 | $112,691 | $283,437 |
Source: Ownwell
Property Tax Bills Across Venango, Nebraska
In Venango, 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 estimated market value of the property. For example, the median home price in Venango is $61,575. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Venango experience a range in their tax bills; the 25th percentile tax bill is $443, while the 75th percentile tax bill reaches $1,508. At the 90th percentile, homeowners might see tax bills as high as $2,953. Comparatively, the national median property tax rate is 0.99%, making Venango's rates relatively moderate. These property taxes contribute to local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners.
Average Venango Tax Bill
$819
Average Perkins County Tax Bill
$1,412
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Venango, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69168 | $195 | $443 | $819 | $1,508 | $2,953 |
Source: Ownwell