Reynolds, Nebraska Property Taxes
The median property tax rate in Reynolds, NE is 1.78%, significantly higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Reynolds, the typical annual property tax bill reaches $222, which is well below the national median of $2,690. Property taxes in Reynolds are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Reynolds' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Reynolds or another part of the city, comprehending the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Reynolds, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$309
Ownwell’s Reynolds Property Tax Bill Calculator is an invaluable resource for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Reynolds. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate specific to Reynolds to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, ensuring you are well-informed before making any property-related decisions. Additionally, for those interested in more detailed insights, localized information on neighborhood trends is available further down the page. Your property’s assessed value, determined by Jefferson County, is crucial for these calculations and includes any applicable exemptions.
Property Tax Rates Across Reynolds, Nebraska
Property taxes in Reynolds, Nebraska, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Reynolds is 1.78%, which is significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Reynolds set these rates annually, and they can vary across different neighborhoods. Each year, Reynolds 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. For comparison, the zip code 68429 within the same county has the highest median property tax rate of 1.78%, while it also has the lowest median tax rate of 1.78%. Understanding how these areas compare with Reynolds provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reynolds Tax Rate
1.78%
Average Jefferson County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reynolds, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68429 | 1.50% | 1.78% | 1.78% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Reynolds, Nebraska
In Reynolds, 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 Jefferson County Assessor 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 Reynolds, 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 Reynolds helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 68429, with a median tax bill of $222.
Average Reynolds Assessed Value
$17,354
Average Jefferson County Assessed Value
$68,781
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reynolds, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68429 | $2,734 | $7,200 | $17,354 | $46,462 | $93,608 |
Source: Ownwell
Property Tax Bills Across Reynolds, Nebraska
In Reynolds, Jefferson County, NE, property tax bills 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, which is determined by the county assessor. Factors such as property size, location, and improvements are considered in this assessment. For a median home price of $17,354, residents can expect varying tax bills. For example, the 25th percentile tax bill is $111, while the 75th percentile is $635, and the 90th percentile reaches $1,282. These figures illustrate the range homeowners might experience based on their property’s assessed value and specific tax rate. Compared to the national median property tax rate of 0.99%, Reynolds offers a relatively affordable property tax environment. However, the impact on homeowners can vary widely, making it crucial to understand how local assessments and rates apply to individual properties.
Average Reynolds Tax Bill
$222
Average Jefferson County Tax Bill
$1,295
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Reynolds, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68429 | $44 | $111 | $222 | $635 | $1,282 |
Source: Ownwell