Ravenna, Nebraska Property Taxes
The median property tax rate in Ravenna, NE is 1.11%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Ravenna at $276,560, the typical annual property tax bill amounts to $3,030, surpassing the national median of $2,690. Property taxes in Ravenna are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural land. By understanding Ravenna's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Ravenna or another part of the city, gaining insight into the local property tax system is beneficial.
Last Updated June 14, 2024
Ravenna, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$3,070
Ownwell’s Ravenna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravenna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravenna 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 Ravenna, Nebraska
Property taxes in Ravenna, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ravenna is 1.11%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Ravenna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravenna 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 Ravenna's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68869 zip code has the highest median property tax rate of 1.11%, while the 68869 zip code has the lowest median tax rate of 1.11%. Understanding how these cities compare with Ravenna provides valuable insights into the varying tax landscape across Sherman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ravenna Tax Rate
1.11%
Average Sherman County Tax Rate
1.30%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravenna, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68869 | 1.09% | 1.10% | 1.11% | 1.11% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Ravenna, Nebraska
In Ravenna, 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 Sherman 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 Ravenna, 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 Ravenna helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ravenna Assessed Value
$276,560
Average Sherman County Assessed Value
$99,345
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ravenna, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68869 | $99,038 | $138,155 | $276,560 | $447,835 | $683,288 |
Source: Ownwell
Property Tax Bills Across Ravenna, Nebraska
Property tax bills in Ravenna, Sherman County, Nebraska, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home. Various factors influence this assessed value, including property size, location, and condition. The local tax rate is set by the county and other taxing entities, such as school districts and municipalities. For homeowners in Ravenna, the property tax burden can vary significantly. The 25th percentile of tax bills is around $1,509, while the 75th percentile reaches $5,221. At the 90th percentile, homeowners might face a tax bill as high as $8,091. Compared to the national median property tax rate of 0.99%, these figures illustrate how local rates and property values can significantly impact tax bills. Understanding these factors is crucial for homeowners aiming to manage their finances effectively and anticipate their annual tax obligations.
Average Ravenna Tax Bill
$3,030
Average Sherman County Tax Bill
$1,395
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravenna, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68869 | $1,087 | $1,509 | $3,030 | $5,221 | $8,091 |
Source: Ownwell