Bingham, Nebraska Property Taxes
The median property tax rate in Bingham, NE is 0.91%, which is lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $47,372 in Bingham, the typical annual property tax bill is $457, significantly below the national median of $2,690. Property taxes in Bingham are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Bingham's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you're residing in the heart of Bingham or another part of Sheridan County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bingham, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$431
Ownwell’s Bingham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bingham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bingham 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 Bingham, Nebraska
Property taxes in Bingham, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bingham is 0.91%, slightly lower than the U.S. national median of 0.99%. Local government entities within Bingham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bingham 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 Bingham's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 69335 has both the highest and lowest median property tax rate of 0.91%, identical to Bingham's rate. Understanding how these areas compare with Bingham provides valuable insights into the varying tax landscape across Sheridan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bingham Tax Rate
0.91%
Average Sheridan County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bingham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69335 | 0.89% | 0.90% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Bingham, Nebraska
In Bingham, 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 Sheridan 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 Bingham, 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 Bingham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 69335 has both the highest and lowest median tax bill at $457.
Average Bingham Assessed Value
$47,372
Average Sheridan County Assessed Value
$70,524
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bingham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69335 | $5,025 | $23,394 | $47,372 | $189,990 | $338,760 |
Source: Ownwell
Property Tax Bills Across Bingham, Nebraska
In Bingham, Sheridan 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, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to compute the annual property tax bill. In Sheridan County, the median home price stands at $47,372. Homeowners in the 25th percentile of property tax bills pay around $198 annually, while those in the 75th percentile see bills of approximately $1,934. For the top 10% of homeowners, tax bills can reach up to $3,020. The highest and lowest median tax bills in the area both stand at $457, specifically in the 69335 zip code. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Compared to the national median property tax rate of 0.99%, Bingham’s tax bills reflect the region's economic conditions and property values.
Average Bingham Tax Bill
$457
Average Sheridan County Tax Bill
$1,197
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Bingham, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69335 | $45 | $198 | $457 | $1,934 | $3,020 |
Source: Ownwell