Friend, Nebraska Property Taxes
The median property tax rate in FRIEND, NE is 2.06%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in FRIEND, the typical annual property tax bill reaches $2,126, which is below the national median of $2,690. Property taxes in FRIEND are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding FRIEND'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 FRIEND 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
Friend, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.06%
Estimate Property Tax Bill
$2,386
Ownwell’s FRIEND Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FRIEND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FRIEND 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 Friend, Nebraska
Property taxes in FRIEND, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in FRIEND is 2.06%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within FRIEND set these rates annually, and they can vary significantly across different neighborhoods. Each year, FRIEND 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 FRIEND's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68359 zip code has the highest median property tax rate of 2.06%, while the 68359 zip code also has the lowest median tax rate of 2.06%. Understanding how these cities compare with FRIEND provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Friend Tax Rate
2.06%
Average Saline County Tax Rate
1.73%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Friend, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68359 | 1.27% | 1.29% | 2.06% | 2.06% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Friend, Nebraska
In FRIEND, 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 Saline 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 FRIEND, 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 FRIEND helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 68359, with a median tax bill of $2,126.
Average Friend Assessed Value
$115,810
Average Saline County Assessed Value
$121,445
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Friend, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68359 | $30,583 | $66,042 | $115,810 | $192,472 | $453,835 |
Source: Ownwell
Property Tax Bills Across Friend, Nebraska
In FRIEND, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office in Saline County. The assessed value is a percentage of the market value of the property, and this value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in FRIEND experience a range of property tax bills. For instance, those at the 25th percentile pay around $1,189 annually, while those at the 75th percentile face tax bills of approximately $3,501. At the 90th percentile, the tax bill can reach up to $6,523. These figures highlight the variation in property taxes within the area, influenced by property values and local tax rates. Compared to the national median property tax rate of 0.99%, the property tax rates in FRIEND reflect the local economic conditions and funding requirements for public services. This can significantly impact homeowners' financial planning and the overall affordability of living in the area.
Average Friend Tax Bill
$2,126
Average Saline County Tax Bill
$2,074
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Friend, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68359 | $545 | $1,189 | $2,126 | $3,501 | $6,523 |
Source: Ownwell