Richfield, Nebraska Property Taxes
The median property tax rate in Richfield, Nebraska is 1.12%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $183,566 in Richfield, the typical annual property tax bill amounts to $2,078, falling short of the national median of $2,690. Property taxes in Richfield are based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Richfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Richfield or investing in real estate within the city, a deep knowledge of the local property tax system is invaluable for maximizing your financial benefits.
Last Updated June 14, 2024
Richfield, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$2,056
Ownwell’s RICHFIELD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RICHFIELD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RICHFIELD 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 Richfield, Nebraska
Property taxes in Richfield, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richfield is 1.12%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Richfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richfield 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 Richfield's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68059 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Richfield provides valuable insights into the varying tax landscape across Sarpy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Richfield Tax Rate
1.12%
Average Sarpy County Tax Rate
1.93%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richfield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68059 | 1.08% | 1.10% | 1.12% | 1.14% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Richfield, Nebraska
In Richfield, 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 Sarpy 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 Richfield, 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 Richfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Richfield are both $2078 in the zip code 68059.
Average Richfield Assessed Value
$183,566
Average Sarpy County Assessed Value
$239,278
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Richfield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68059 | $76,346 | $94,867 | $183,566 | $209,370 | $220,491 |
Source: Ownwell
Property Tax Bills Across Richfield, Nebraska
In Richfield, located in Sarpy County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Richfield experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $1,040, while at the 75th percentile, it reaches $2,339. The tax bill at the 90th percentile is $2,446, indicating a significant variance depending on property value and location. These property taxes fund essential community services such as schools, public safety, and infrastructure. While the national median property tax rate is 0.99%, Richfield's rates can vary, impacting homeowners differently. Understanding these factors is crucial for homeowners to anticipate their annual financial obligations and the value they receive in community services.
Average Richfield Tax Bill
$2,078
Average Sarpy County Tax Bill
$4,476
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Richfield, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68059 | $858 | $1,040 | $2,078 | $2,339 | $2,446 |
Source: Ownwell