Burwell, Nebraska Property Taxes
The median property tax rate in Burwell, NE is 1.04%, slightly higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With the median home value in Burwell at $124,722, the typical annual property tax bill amounts to $1,307, which is below the national median of $2,690. Property taxes in Burwell are calculated 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. Understanding Burwell'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 Burwell 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
Burwell, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,297
Ownwell’s Burwell Property Tax Bill Calculator is an essential tool for any homeowner, real estate investor, or potential buyer looking to estimate their annual property taxes in Burwell. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Burwell to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property's assessed value is determined by Rock County for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Burwell, Nebraska
Property taxes in Burwell, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burwell is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Burwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burwell 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 Burwell's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68823 zip code has the highest median property tax rate of 1.04%, while the same 68823 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Burwell provides valuable insights into the varying tax landscape across Rock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burwell Tax Rate
1.04%
Average Rock County Tax Rate
1.05%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | 1.00% | 1.04% | 1.04% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Burwell, Nebraska
In Burwell, 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 Rock 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 Burwell, 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 Burwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68823 has the median tax bill of $1,307.
Average Burwell Assessed Value
$124,722
Average Rock County Assessed Value
$71,868
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | $45,280 | $73,681 | $124,722 | $225,781 | $419,218 |
Source: Ownwell
Property Tax Bills Across Burwell, Nebraska
Property tax bills in Burwell, located in Rock County, NE, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. For homeowners in Burwell, the median home price stands at $124,722. Factors such as property size, location, and improvements contribute to the assessed value. The tax bill is then calculated by applying the local tax rate to the assessed value. Homeowners in Burwell experience a range of property tax bills, with the 25th percentile tax bill at $775 and the 75th percentile tax bill reaching $2,227. The 90th percentile tax bill can go up to $4,014, indicating a significant variation based on property characteristics and assessed values. Compared to the national median property tax rate of 0.99%, Burwell's property taxes can vary widely, impacting homeowners differently based on their property's assessed value. This variation underscores the importance of understanding local tax rates and assessments.
Average Burwell Tax Bill
$1,307
Average Rock County Tax Bill
$970
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Burwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68823 | $476 | $775 | $1,307 | $2,227 | $4,014 |
Source: Ownwell