Wymore, Nebraska Property Taxes
The median property tax rate in Wymore, NE is 2.35%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Wymore, the typical annual property tax bill reaches $786, which is below the national median of $2,690. Property taxes in Wymore 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 Wymore'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 Wymore or another part of Gage County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wymore, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$976
Ownwell’s Wymore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wymore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wymore 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 Wymore, Nebraska
Property taxes in Wymore, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wymore is 2.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wymore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wymore 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 Wymore's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68466 zip code has the highest median property tax rate of 2.35%, while the 68466 zip code also has the lowest median tax rate of 2.35%. Understanding how these cities compare with Wymore 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 Wymore Tax Rate
2.35%
Average Gage County Tax Rate
1.83%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wymore, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68466 | 0.82% | 1.54% | 2.35% | 2.35% | 2.35% |
Source: Ownwell
Property Tax Assessment Values Across Wymore, Nebraska
In Wymore, 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 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. In Wymore, 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 Wymore is $41,525, with the 25th percentile tax bill at $306 and the 75th percentile tax bill at $1,793. The 90th percentile tax bill reaches up to $3,238. By understanding 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 Wymore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wymore Assessed Value
$41,525
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 Wymore, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68466 | $7,937 | $19,359 | $41,525 | $88,451 | $210,902 |
Source: Ownwell
Property Tax Bills Across Wymore, Nebraska
In Wymore, located in Gage 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 the market value of the property. The local tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Wymore, the median home price is $41,525, and property tax bills can vary significantly. The tax bill at the 25th percentile is $306, while at the 75th percentile, it rises to $1,793. For the top 10% of homeowners, tax bills can reach up to $3,238. Comparatively, the national median property tax rate is 0.99%, making Wymore's rates relatively moderate. These property taxes fund essential local services such as public schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners should be aware of these factors, as they influence both their annual expenses and the overall affordability of homeownership in Wymore.
Average Wymore Tax Bill
$786
Average Gage County Tax Bill
$1,782
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Wymore, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68466 | $52 | $306 | $786 | $1,793 | $3,238 |
Source: Ownwell