Lamar, Nebraska Property Taxes
The median property tax rate in Lamar, NE is 0.87%, which is lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Lamar, the typical annual property tax bill reaches $1,729, significantly below the national median of $2,690. Property taxes in Lamar are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lamar'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 Lamar 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
Lamar, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,738
Ownwell’s Lamar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lamar 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 Lamar, Nebraska
Property taxes in Lamar, Nebraska, are crucial for funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lamar is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Lamar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamar 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 Lamar's effective property tax rate to other counties in Nebraska and the national median. For comparison, the ZIP code 69023 has both the highest and lowest median property tax rate of 0.87%. Understanding how these areas compare with Lamar provides valuable insights into the varying tax landscape across Chase County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lamar Tax Rate
0.87%
Average Chase County Tax Rate
1.56%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamar, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69023 | 0.85% | 0.85% | 0.87% | 0.87% | 0.87% |
| 69045 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Lamar, Nebraska
In Lamar, 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 Chase 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 Lamar, 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 Lamar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,736 in zip code 69023, which is also where the lowest median tax bill is found.
Average Lamar Assessed Value
$199,737
Average Chase County Assessed Value
$109,606
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamar, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69023 | $29,436 | $87,730 | $213,339 | $593,756 | $788,425 |
| 69045 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Lamar, Nebraska
In Lamar, located in Chase County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. For example, with a median home price of $199,737, the assessed value would be a portion of this figure, depending on local assessment ratios. The tax rate is applied to the assessed value to calculate the annual tax bill. Factors like property size, location, and improvements can influence the assessed value. Homeowners in Lamar experience a range of tax bills, with the 25th percentile paying around $745, while those in the 75th percentile see bills as high as $4,710. The 90th percentile reaches up to $6,687. Compared to the national median property tax rate of 0.99%, Lamar's property taxes can vary significantly, impacting homeowners differently based on their property’s assessed value and specific tax obligations.
Average Lamar Tax Bill
$1,729
Average Chase County Tax Bill
$1,428
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamar, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69023 | $255 | $761 | $1,736 | $4,871 | $6,729 |
| 69045 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell