Friend, Nebraska Property Taxes
The median property tax rate in Friend, NE is 1.27%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Friend, the typical annual property tax bill reaches $3,675, exceeding the national median of $2,690. Property taxes in Friend are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Friend'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 Friend or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Friend, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$4,312
Ownwell’s FRIEND Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FRIEND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FRIEND 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 Friend, Nebraska
Property taxes in FRIEND, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in FRIEND is 2.06%, significantly higher than both the Nebraska state median of 1.73% and the U.S. national median of 0.99%. Local government entities within FRIEND set these rates annually, and they can vary significantly across different neighborhoods. Each year, FRIEND 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 FRIEND's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68359 zip code has the highest median property tax rate of 2.06%, while the 68359 zip code has the lowest median tax rate of 2.06%. Understanding how these cities compare with FRIEND provides valuable insights into the varying tax landscape across Seward, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Friend Tax Rate
1.27%
Average Seward County Tax Rate
1.59%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Friend, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68359 | 0.97% | 0.99% | 1.27% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Friend, Nebraska
In FRIEND, 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 Seward 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 FRIEND, 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. Being aware of these valuation processes in FRIEND helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in FRIEND is $3675.00 in the 68359 zip code.
Average Friend Assessed Value
$339,495
Average Seward County Assessed Value
$185,126
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Friend, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68359 | $170,650 | $227,931 | $339,495 | $594,100 | $1,043,717 |
Source: Ownwell
Property Tax Bills Across Friend, Nebraska
In FRIEND, property tax bills are calculated based on the assessed value of a home, which is determined by the Seward County assessor's office. This value is typically a percentage of the market value of the property. For homeowners in FRIEND, the median home price is $339,495. Various factors influence the assessed value, including recent sales of similar properties, property condition, and any improvements made. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. In FRIEND, the tax bills vary significantly, with the 25th percentile around $2,791 and the 75th percentile reaching up to $6,743. Homeowners in the 90th percentile face tax bills as high as $11,341. These property taxes fund essential local services such as public schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, homeowners in FRIEND might find their tax rates to be competitive or slightly higher, impacting their overall cost of homeownership.
Average Friend Tax Bill
$3,675
Average Seward County Tax Bill
$2,810
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Friend, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68359 | $2,187 | $2,791 | $3,675 | $6,743 | $11,341 |
Source: Ownwell