Bruning, Nebraska Property Taxes
The median property tax rate in Bruning, NE is 1.02%, slightly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Bruning at $95,004, the typical annual property tax bill is $944, which is below the national median of $2,690. Property taxes in Bruning are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Bruning'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 Bruning or elsewhere in Thayer County, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bruning, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$969
-$10,156
Ownwell’s Bruning Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bruning using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bruning 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 Bruning, Nebraska
Property taxes in Bruning, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bruning is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Bruning set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bruning 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 Bruning's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68322 has both the highest and lowest median property tax rate of 1.02%. Understanding how these areas compare with Bruning 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 Bruning Tax Rate
1.02%
Average Thayer County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bruning, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68322 | 0.71% | 0.72% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Bruning, Nebraska
In Bruning, 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 Bruning, 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. For instance, zip code 68322 has the highest and lowest median tax bill at $944. By being aware of these valuation processes, property owners in Bruning can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Bruning Assessed Value
$95,004
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 Bruning, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68322 | $17,786 | $48,445 | $95,004 | $163,612 | $374,401 |
Source: Ownwell
Property Tax Bills Across Bruning, Nebraska
In Bruning, property tax bills are calculated based on the assessed value of a home, which is determined by the Thayer County Assessor's Office. The assessed value is typically a percentage of the market value of the property. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors, including property size, location, and any improvements made to the property, can influence the assessed value. For homeowners in Bruning, the property tax rate is a critical factor. With a median home price of $95,004, property tax bills can vary significantly. For example, at the 25th percentile, the tax bill is $446, while at the 75th percentile, it rises to $1,466. At the 90th percentile, some homeowners might face a tax bill as high as $2,688. These variations highlight how property taxes can impact homeowners differently, depending on their property's value and specific circumstances. Comparing this to the national median property tax rate of 0.99%, Bruning's rates can offer insights into the local tax landscape.
Average Bruning Tax Bill
$944
Average Thayer County Tax Bill
$919
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Bruning, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68322 | $174 | $446 | $944 | $1,466 | $2,688 |
Source: Ownwell