Linwood, Nebraska Property Taxes
The median property tax rate in Linwood, Nebraska is 1.36%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Linwood at $145,948, the typical annual property tax bill reaches $1,767, 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 the city, 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
1.36%
Estimate Property Tax Bill
$1,985
$1,842
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Linwood is 1.36%, significantly higher than 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 areas in Butler County and the national median. For comparison, the zip code 68036 has the highest median property tax rate of 1.36%, while the lowest median tax rate in the area is also 1.36%. Understanding how these areas compare with Linwood provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Linwood Tax Rate
1.36%
Average Butler County Tax Rate
1.49%
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 | 1.06% | 1.10% | 1.36% | 1.40% | 1.58% |
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 Butler 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the zip code 68036 has the highest median tax bill of $1,767, while the lowest median tax bill is also $1,767. 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
$145,948
Average Butler County Assessed Value
$140,672
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 | $5,548 | $34,499 | $145,948 | $431,072 | $661,855 |
Source: Ownwell
Property Tax Bills Across Linwood, Nebraska
In Linwood, property tax bills are calculated based on the assessed value of a home, which is determined by the Butler County assessor's office. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the tax bill. Factors such as local government budgets, school funding needs, and public services influence the tax rate. For homeowners in Linwood, the median home price stands at $145,948. The property tax bills vary significantly, with the 25th percentile at $415 and the 90th percentile reaching up to $8,323. Comparatively, the national median property tax rate is 0.99%, highlighting that tax bills in Linwood can be considerably higher depending on the property's assessed value and the specific tax rate applied. These taxes directly impact homeowners by contributing to community services, education, and infrastructure, making it essential for property owners to understand how their tax bills are calculated and what they fund.
Average Linwood Tax Bill
$1,767
Average Butler County Tax Bill
$1,858
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 | $77 | $415 | $1,767 | $5,316 | $8,323 |
Source: Ownwell