Plymouth, Nebraska Property Taxes
The median property tax rate in Plymouth, Nebraska is 1.75%, notably higher than the national median of 0.99%. With a median home value of $99,516 in Plymouth, the typical annual property tax bill amounts to $1,666, which is still below the national median of $2,690. Property taxes in Plymouth are determined based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Grasping Plymouth's property tax system, exploring potential exemptions, and finding ways to reduce your tax burden can result in significant yearly savings. Whether you reside in the heart of Plymouth or its surrounding areas, understanding the local property tax framework is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Plymouth, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$1,742
Ownwell’s Plymouth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plymouth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plymouth 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 Plymouth, Nebraska
Property taxes in Plymouth, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plymouth is 1.75%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plymouth 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 Plymouth's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68424 zip code has the highest median property tax rate of 1.75%, while the 68424 zip code also has the lowest median tax rate of 1.75%. Understanding how these cities compare with Plymouth provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plymouth Tax Rate
1.75%
Average Jefferson County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plymouth, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68424 | 1.17% | 1.19% | 1.75% | 1.75% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth, Nebraska
In Plymouth, 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 Jefferson 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 Plymouth, 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 Plymouth is $99,516, with tax bills ranging from $914 at the 25th percentile to $6,966 at the 90th percentile. The highest and lowest median tax bills are both $1,666 in the 68424 zip code. 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 Plymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Plymouth Assessed Value
$99,516
Average Jefferson County Assessed Value
$68,781
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plymouth, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68424 | $36,000 | $63,502 | $99,516 | $194,356 | $543,220 |
Source: Ownwell
Property Tax Bills Across Plymouth, Nebraska
Property tax bills in Plymouth, Jefferson County, NE, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. In Plymouth, the median home price is $99,516, which serves as a baseline for calculating property taxes. The tax rate is applied to the assessed value to determine the annual tax bill. For instance, homeowners in the 25th percentile can expect a tax bill around $914, while those in the 75th percentile might see bills closer to $2,745. At the higher end, the 90th percentile tax bill can reach up to $6,966. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Plymouth's tax bills reflect a localized approach to maintaining community standards and services.
Average Plymouth Tax Bill
$1,666
Average Jefferson County Tax Bill
$1,295
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Plymouth, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68424 | $518 | $914 | $1,666 | $2,745 | $6,966 |
Source: Ownwell