Plymouth, Nebraska Property Taxes
The median property tax rate in Plymouth, NE is 1.15%, which is higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Plymouth at $1,094,520, the typical annual property tax bill reaches $12,609, significantly exceeding the national median of $2,690. Property taxes in Plymouth are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Plymouth'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 Plymouth 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
Plymouth, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$12,587
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 1.15%, which is 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 both the highest and the lowest median property tax rate of 1.15%. Understanding how these areas compare with Plymouth provides valuable insights into the varying tax landscape across Gage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plymouth Tax Rate
1.15%
Average Gage County Tax Rate
1.83%
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 | 1.15% | 1.15% | 1.15% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Plymouth, Nebraska. 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 Gage 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. Assessment notices in Plymouth 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. For instance, the highest median tax bill in Plymouth is $12,609 in the 68424 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Plymouth Assessed Value
$1,094,520
Average Gage County Assessed Value
$108,335
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 | $1,094,520 | $1,094,520 | $1,094,520 | $1,094,520 | $1,094,520 |
Source: Ownwell
Property Tax Bills Across Plymouth, Nebraska
In Plymouth, located in Gage County, NE, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value typically reflects a percentage of the market value of the home. For instance, with a median home price of $1,094,520, the property tax rate in Plymouth can have a significant impact on homeowners. The tax rate, combined with the assessed value, determines the annual tax bill. In Plymouth, the median property tax bill stands at $12,609, which is considerably higher than the national median property tax rate of 0.99%. This elevated tax bill can be attributed to the higher home values in the area. Homeowners in Plymouth should be aware that factors such as property improvements, neighborhood changes, and local government budgets can influence their property's assessed value and, consequently, their tax bill. Understanding these elements can help homeowners anticipate and manage their property tax obligations more effectively.
Average Plymouth Tax Bill
$12,609
Average Gage County Tax Bill
$1,782
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 | $12,609 | $12,609 | $12,609 | $12,609 | $12,609 |
Source: Ownwell