Friend, Nebraska Property Taxes
The median property tax rate in FRIEND, NE is 0.89%, which is lower 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 $8,443, significantly exceeding 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
0.89%
Estimate Property Tax Bill
$8,404
$7,799
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Friend is 0.89%, slightly below 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 zip code 68359 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Friend provides valuable insights into the varying tax landscape across Fillmore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Friend Tax Rate
0.89%
Average Fillmore County Tax Rate
1.63%
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 | 0.89% | 0.89% | 0.89% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Friend, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in FRIEND, Nebraska. 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 Fillmore 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 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 in Fillmore County is 68359, with a median tax bill of $8,443.
Average Friend Assessed Value
$944,305
Average Fillmore County Assessed Value
$93,580
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 | $280,449 | $529,395 | $944,305 | $989,458 | $1,016,549 |
Source: Ownwell
Property Tax Bills Across Friend, Nebraska
In FRIEND, located in Fillmore County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $944,305, homeowners can expect varying tax bills depending on their property's assessed value and any applicable exemptions. Factors influencing the tax bill include the property's location within the city, improvements made to the property, and any changes in the local tax rate. Homeowners in FRIEND can find their tax bills ranging from the 25th percentile at $4,740 to the 75th percentile at $8,822, with the 90th percentile reaching as high as $9,050. These figures illustrate that while some homeowners may face higher tax obligations, others may benefit from lower assessments. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Friend Tax Bill
$8,443
Average Fillmore County Tax Bill
$1,380
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 | $2,517 | $4,740 | $8,443 | $8,822 | $9,050 |
Source: Ownwell