Maywood, Nebraska Property Taxes
The median property tax rate in Maywood, NE is 1.04%, slightly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $274,400 in Maywood, the typical annual property tax bill is around $2,870, surpassing the national median of $2,690. Property taxes in Maywood are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Maywood'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 Maywood or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maywood, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,854
-$29,907
Ownwell’s Maywood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maywood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maywood 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 Maywood, Nebraska
Property taxes in Maywood, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maywood is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Maywood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maywood 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 Maywood's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69038 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Maywood provides valuable insights into the varying tax landscape across Hayes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maywood Tax Rate
1.04%
Average Hayes County Tax Rate
1.18%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maywood, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69038 | 1.03% | 1.03% | 1.04% | 1.04% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Maywood, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Maywood, 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 Hayes 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 Maywood, 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 Maywood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,870, found in zip code 69038, while the lowest median tax bill is also $2,870 in the same zip code.
Average Maywood Assessed Value
$274,400
Average Hayes County Assessed Value
$126,295
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maywood, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69038 | $83,268 | $148,186 | $274,400 | $424,298 | $827,326 |
Source: Ownwell
Property Tax Bills Across Maywood, Nebraska
In Maywood, located in Hayes County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. Factors such as property size, location, and improvements are considered in the assessment process. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $274,400, homeowners in Maywood can expect varying tax bills. The 25th percentile tax bill is around $1,538, while the 75th percentile reaches $4,381. Those in the 90th percentile face tax bills as high as $8,545. These figures highlight the range of property tax burdens within the area. Compared to the national median property tax rate of 0.99%, Maywood's property tax bills indicate how local rates and property values significantly impact homeowners' financial responsibilities.
Average Maywood Tax Bill
$2,870
Average Hayes County Tax Bill
$1,612
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Maywood, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69038 | $842 | $1,538 | $2,870 | $4,381 | $8,545 |
Source: Ownwell