Belvidere, Nebraska Property Taxes
The median property tax rate in Belvidere, Nebraska is 1.24%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $27,136 in Belvidere, the typical annual property tax bill amounts to $350, significantly lower than the national median of $2,690. Property taxes in Belvidere are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Belvidere'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 Belvidere or elsewhere in Thayer County, a solid grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Belvidere, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$336
-$3,526
Ownwell’s Belvidere Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belvidere with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belvidere 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 Belvidere, Nebraska
Property taxes in Belvidere, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belvidere is 1.24%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Belvidere set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belvidere 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 Belvidere's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68315 has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these areas compare with Belvidere provides valuable insights into the varying tax landscape across Thayer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belvidere Tax Rate
1.24%
Average Thayer County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belvidere, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68315 | 0.92% | 0.94% | 1.24% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Belvidere, Nebraska
In Belvidere, 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 Thayer 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 Belvidere, 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 Belvidere helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $350.00, found in the 68315 zip code.
Average Belvidere Assessed Value
$27,136
Average Thayer County Assessed Value
$73,318
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belvidere, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68315 | $1,793 | $5,573 | $27,136 | $206,984 | $532,448 |
Source: Ownwell
Property Tax Bills Across Belvidere, Nebraska
In Belvidere, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local property tax rate to arrive at the annual tax bill. Factors such as the property's location, size, and condition are considered during the assessment process. Belvidere, located in Thayer County, has a median home price of $27,136. Homeowners here can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $45, while the 75th percentile tax bill reaches up to $2,031, and the 90th percentile tax bill can be as high as $5,032. This wide range illustrates how different factors can impact the final tax amount. Compared to the national median property tax rate of 0.99%, Belvidere's property tax rates reflect the local economic conditions and property values, significantly affecting homeowners' annual financial obligations.
Average Belvidere Tax Bill
$350
Average Thayer County Tax Bill
$919
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Belvidere, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68315 | $22 | $45 | $350 | $2,031 | $5,032 |
Source: Ownwell