Linwood, Nebraska Property Taxes
The median property tax rate in Linwood, NE is 1.14%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Linwood at $337,058, the typical annual property tax bill reaches $3,820, exceeding the national median of $2,690. Property taxes in Linwood 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 Linwood'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 Linwood or another part of Saunders County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Linwood, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$3,842
Ownwell’s Linwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linwood 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 Linwood, Nebraska
Property taxes in Linwood, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Linwood is 1.14%, higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Linwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linwood 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 Linwood's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68036 zip code has the highest median property tax rate of 1.14%, while the 68036 zip code has the lowest median tax rate of 1.14%. Understanding how these cities compare with Linwood provides valuable insights into the varying tax landscape across Saunders County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Linwood Tax Rate
1.14%
Average Saunders County Tax Rate
1.77%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Linwood, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68036 | 1.12% | 1.13% | 1.14% | 1.17% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Linwood, Nebraska
In Linwood, 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 Saunders 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 Linwood, 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 Linwood is $337,058, with property tax bills ranging significantly. For instance, the 25th percentile tax bill is $2,022, while the 75th percentile tax bill is $6,672. The highest median tax bill in the area is $3,820, found in zip code 68036. 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 Linwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Linwood Assessed Value
$337,058
Average Saunders County Assessed Value
$199,000
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Linwood, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68036 | $70,672 | $185,644 | $337,058 | $574,336 | $705,320 |
Source: Ownwell
Property Tax Bills Across Linwood, Nebraska
In Linwood, Saunders County, NE, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect the market value of the home. This value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $337,058, property owners in Linwood can expect tax bills ranging from $2,022 at the 25th percentile to $8,355 at the 90th percentile. These variations are influenced by factors such as property size, location, and any applicable exemptions. The highest median tax bill in the area is $3,820, which is significantly above the national median property tax rate of 0.99%. High property taxes can impact homeowners by increasing their overall housing costs, potentially making homeownership less affordable. Conversely, they also fund essential public services like schools, infrastructure, and emergency services, contributing to community welfare.
Average Linwood Tax Bill
$3,820
Average Saunders County Tax Bill
$3,382
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Linwood, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68036 | $839 | $2,022 | $3,820 | $6,672 | $8,355 |
Source: Ownwell