Royal, Nebraska Property Taxes
The median property tax rate in Royal, NE is 1.17%, which is notably higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $88,110 in Royal, the typical annual property tax bill amounts to $1,000, which is significantly below the national median of $2,690. Property taxes in Royal are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Royal'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 Royal or another part of Antelope County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Royal, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,031
Ownwell’s Royal Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Royal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Royal 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 Royal, Nebraska
Property taxes in Royal, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Royal is 1.17%, significantly higher than the U.S. national median of 0.99%. Local government entities within Royal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Royal 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 Royal's effective property tax rate to other areas in Antelope County and the national median. For comparison, the zip code 68773 has both the highest and lowest median property tax rate of 1.17%. Understanding how these areas compare with Royal provides valuable insights into the varying tax landscape across Antelope County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Royal Tax Rate
1.17%
Average Antelope County Tax Rate
1.29%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Royal, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68773 | 1.05% | 1.06% | 1.17% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Royal, Nebraska
In Royal, 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 Antelope 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 Royal, 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. The median home price in Royal is $88,110, with tax bills ranging from $307 at the 25th percentile to $6,186 at the 90th percentile. The zip code 68773 has the highest median tax bill of $1,000. 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 Royal helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Royal Assessed Value
$88,110
Average Antelope County Assessed Value
$117,295
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Royal, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68773 | $7,177 | $24,078 | $88,110 | $306,528 | $578,801 |
Source: Ownwell
Property Tax Bills Across Royal, Nebraska
In Royal, located in Antelope County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Royal is $88,110. The tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Royal can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $307, while the 75th percentile tax bill reaches up to $3,600. At the 90th percentile, tax bills can be as high as $6,186. Several factors influence these variations, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Royal’s property tax landscape shows a broad range of financial impacts on homeowners. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly, ensuring they are prepared for the financial responsibilities of property ownership in Royal.
Average Royal Tax Bill
$1,000
Average Antelope County Tax Bill
$1,685
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Royal, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68773 | $109 | $307 | $1,000 | $3,600 | $6,186 |
Source: Ownwell