Maxwell, Nebraska Property Taxes
The median property tax rate in Maxwell, NE is 1.38%, which is considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $115,521 in Maxwell, the typical annual property tax bill reaches $1,718, still below the national median of $2,690. Property taxes in Maxwell are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Maxwell'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 Maxwell or another part of Lincoln County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maxwell, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,594
Ownwell’s Maxwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maxwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maxwell 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 Maxwell, Nebraska
Property taxes in Maxwell, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maxwell is 1.38%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Maxwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maxwell 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 Maxwell's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69151 zip code has the highest median property tax rate of 1.38%, while the 69151 zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Maxwell provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maxwell Tax Rate
1.38%
Average Lincoln County Tax Rate
1.93%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maxwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69151 | 1.37% | 1.38% | 1.38% | 1.72% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Maxwell, Nebraska
In Maxwell, 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 Lincoln 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 Maxwell, 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 Maxwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Maxwell both stand at $1,718 in zip code 69151.
Average Maxwell Assessed Value
$115,521
Average Lincoln County Assessed Value
$120,701
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maxwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69151 | $18,326 | $53,588 | $115,521 | $237,804 | $393,282 |
Source: Ownwell
Property Tax Bills Across Maxwell, Nebraska
In Maxwell, property tax bills are calculated based on the assessed value of your home, which is determined by the Lincoln County Assessor's Office. The assessed value is a percentage of the market value of your property. Once the assessed value is established, the local tax rate is applied to calculate your annual tax bill. The median home price in Maxwell is $115,521, and homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. For instance, the tax bill for the 25th percentile is approximately $798, while the 75th percentile sees tax bills around $3275. At the 90th percentile, homeowners might face tax bills as high as $5429. The median tax bill in Maxwell stands at $1718, which is notably higher than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by influencing their annual financial planning and overall cost of homeownership. Understanding these factors can help homeowners in Maxwell anticipate their property tax obligations more accurately.
Average Maxwell Tax Bill
$1,718
Average Lincoln County Tax Bill
$2,112
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Maxwell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69151 | $196 | $798 | $1,718 | $3,275 | $5,429 |
Source: Ownwell