Creston, Nebraska Property Taxes
The median property tax rate in Creston, NE is 1.27%, which is higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $151,845 in Creston, the typical annual property tax bill amounts to $1,673, which is below the national median of $2,690. Property taxes in Creston are determined based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Creston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Creston or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Creston, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$1,928
$1,790
Ownwell’s Creston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Creston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Creston 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 Creston, Nebraska
Property taxes in Creston, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Creston is 1.27%, notably higher than the U.S. national median of 0.99%. Local government entities within Creston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Creston 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 Creston's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68631 has both the highest and the lowest median property tax rate of 1.27%. Understanding how these cities compare with Creston provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Creston Tax Rate
1.27%
Average Platte County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Creston, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68631 | 0.97% | 0.99% | 1.27% | 1.42% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Creston, Nebraska
In Creston, 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 Platte 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 Creston, 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. For instance, in Creston, the median home price is $151,845, with tax bills ranging from $849 at the 25th percentile to $5,910 at the 90th percentile. The highest and lowest median tax bills are both $1,673, found in the zip code 68631. Understanding these valuation concepts helps property owners better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Creston Assessed Value
$151,845
Average Platte County Assessed Value
$171,615
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Creston, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68631 | $32,422 | $58,834 | $151,845 | $285,735 | $497,442 |
Source: Ownwell
Property Tax Bills Across Creston, Nebraska
In Creston, located in Platte County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value and takes into account factors such as property size, location, and improvements. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $151,845, homeowners can expect a range of tax bills. The 25th percentile tax bill is approximately $849, while the 75th percentile tax bill reaches up to $3,318. At the higher end, the 90th percentile tax bill can be as much as $5,910. These figures illustrate the variability in tax bills depending on property value and specific local rates. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners differently based on their property's assessed value. While the highest and lowest median tax bills in the area are both $1,673, this is relatively lower compared to the national median property tax rate of 0.99%.
Average Creston Tax Bill
$1,673
Average Platte County Tax Bill
$2,760
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Creston, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68631 | $366 | $849 | $1,673 | $3,318 | $5,910 |
Source: Ownwell