Lyman, Nebraska Property Taxes
The median property tax rate in Lyman, Nebraska is 2.12%, significantly higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Lyman at $50,915, the typical annual property tax bill reaches $1,080, which is still below the national median of $2,690. Property taxes in Lyman 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 Lyman'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 Lyman or another part of Scotts Bluff County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lyman, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.12%
Estimate Property Tax Bill
$1,079
Ownwell’s Lyman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyman 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 Lyman, Nebraska
Property taxes in Lyman, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyman is 2.12%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Lyman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyman 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 Lyman's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69352 zip code has both the highest and lowest median property tax rate of 2.12%. Understanding how these cities compare with Lyman provides valuable insights into the varying tax landscape across Scotts Bluff County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyman Tax Rate
2.12%
Average Scotts Bluff County Tax Rate
2.03%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69352 | 1.66% | 1.66% | 2.12% | 2.12% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Lyman, Nebraska
In Lyman, 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 Scotts Bluff 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 Lyman, 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. For example, the median home price in Lyman is $50,915, with tax bills ranging from $385 at the 25th percentile to $5,536 at the 90th percentile. The zip code with the highest and lowest median tax bill is 69352, both at $1,080. 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 Lyman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lyman Assessed Value
$50,915
Average Scotts Bluff County Assessed Value
$107,015
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69352 | $10,508 | $18,053 | $50,915 | $150,690 | $331,087 |
Source: Ownwell
Property Tax Bills Across Lyman, Nebraska
In Lyman, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The tax rate is applied to the assessed value to calculate the annual tax bill. In Scotts Bluff County, the median home price is $50,915. Homeowners in Lyman can expect their tax bills to vary significantly, with the 25th percentile tax bill around $385 and the 75th percentile reaching up to $2,740. For those at the higher end, the 90th percentile tax bill can soar to $5,536. This range indicates that while some homeowners may experience relatively low property taxes, others may face substantial tax bills, depending on their property's assessed value. The highest median tax bill in the area is $1,080, which is quite close to the national median property tax rate of 0.99%. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Lyman Tax Bill
$1,080
Average Scotts Bluff County Tax Bill
$2,080
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69352 | $213 | $385 | $1,080 | $2,740 | $5,536 |
Source: Ownwell