Chester, Nebraska Property Taxes
The median property tax rate in Chester, NE is 1.48%, 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 $30,001 in Chester, the typical annual property tax bill amounts to $445, significantly below the national median of $2,690. Property taxes in Chester are based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Chester'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 Chester or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chester, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$444
-$4,653
Ownwell’s Chester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chester 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 Chester, Nebraska
Property taxes in Chester, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chester is 1.48%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Chester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chester 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 Chester's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68327 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Chester 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 Chester Tax Rate
1.48%
Average Thayer County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chester, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68327 | 0.94% | 1.48% | 1.48% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Chester, Nebraska
In Chester, 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 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 Chester, 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. In Chester, the median home price stands at $30,001, with tax bills ranging from $138 at the 25th percentile to $2,713 at the 90th percentile. The zip code 68327 has both the highest and lowest median tax bill at $445. 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 Chester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chester Assessed Value
$30,001
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 Chester, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68327 | $4,004 | $10,534 | $30,001 | $68,942 | $248,621 |
Source: Ownwell
Property Tax Bills Across Chester, Nebraska
In Chester, Thayer 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 and reflects the property's market value. For example, with a median home price of $30,001, the assessed value directly influences the tax bill. Local tax rates are applied to this assessed value to calculate the final tax bill. Homeowners in Chester can expect varying tax bills depending on their property's assessed value. The tax bill at the 25th percentile is around $138, while at the 75th percentile, it rises to $1,060. At the 90th percentile, homeowners might see tax bills as high as $2,713. Compared to the national median property tax rate of 0.99%, Chester's property tax bills are influenced by both the local tax rate and the assessed property values. This system ensures that homeowners contribute to local services proportionately based on their property's worth.
Average Chester Tax Bill
$445
Average Thayer County Tax Bill
$919
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Chester, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68327 | $50 | $138 | $445 | $1,060 | $2,713 |
Source: Ownwell