Lynch, Nebraska Property Taxes
The median property tax rate in Lynch, NE is 0.99%, aligning with the national median of 0.99% but significantly lower than the Nebraska state median of 1.75%. With the median home value in Lynch at $57,720, the typical annual property tax bill amounts to $539, which is well below the national median of $2,690. Property taxes in Lynch are determined based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Lynch's property tax system, exploring available exemptions, and seeking opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Lynch or another part of Holt County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lynch, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$571
Ownwell’s Lynch Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lynch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lynch to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available. 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 Lynch, Nebraska
Property taxes in Lynch, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lynch is 1.51%, higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Lynch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lynch 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 Lynch's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68746 zip code has the highest median property tax rate of 1.51%, while the 68746 zip code has the lowest median tax rate of 1.51%. Understanding how these cities compare with Lynch provides valuable insights into the varying tax landscape across Boyd, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lynch Tax Rate
0.99%
Average Holt County Tax Rate
1.55%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lynch, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68746 | 0.66% | 0.82% | 0.99% | 1.09% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Lynch, Nebraska
In LYNCH, 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 Holt 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 LYNCH, 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. The median home price in LYNCH is $57,720, with the annual tax bill ranging from $163 at the 25th percentile to $1,575 at the 90th percentile. Being aware of these valuation processes in LYNCH helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lynch Assessed Value
$57,720
Average Holt County Assessed Value
$91,350
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lynch, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68746 | $19,580 | $27,219 | $57,720 | $104,274 | $140,805 |
Source: Ownwell
Property Tax Bills Across Lynch, Nebraska
In Lynch, located in Holt County, NE, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office, which evaluates the property's market value and applies a specific assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Lynch, the median home price is $57,720. The property tax rate in Holt County is reflective of the broader national median property tax rate of 0.99%. Consequently, the tax bills in Lynch can vary significantly. At the 25th percentile, homeowners might pay around $163 annually, whereas those at the 75th percentile could see bills as high as $1,145. For the top 10% of property values, tax bills can reach up to $1,575. Understanding these factors is crucial for homeowners as property taxes directly impact their annual expenses. Properly assessed values and accurate tax rates ensure fair taxation, helping maintain essential community services and infrastructure.
Average Lynch Tax Bill
$539
Average Holt County Tax Bill
$1,293
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Lynch, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68746 | $144 | $163 | $539 | $1,145 | $1,575 |
Source: Ownwell