Kramer, Nebraska Property Taxes
The median property tax rate in Kramer, NE is 1.32%, which is higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Kramer at $116,300, the typical annual property tax bill is $1,531, falling below the national median of $2,690. Property taxes in Kramer are based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Kramer'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 Kramer 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
Kramer, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$1,535
$1,425
Ownwell’s Kramer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kramer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kramer 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 Kramer, Nebraska
Property taxes in Kramer, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kramer is 1.32%, which is significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Kramer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kramer 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 Kramer's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68333 zip code has both the highest and lowest median property tax rate of 1.32%. Understanding how these cities compare with Kramer provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kramer Tax Rate
1.32%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kramer, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68333 | 1.32% | 1.32% | 1.32% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Kramer, Nebraska
In Kramer, 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 Lancaster 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 Kramer, 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 Kramer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Kramer are both $1531, particularly in the 68333 zip code area.
Average Kramer Assessed Value
$116,300
Average Lancaster County Assessed Value
$238,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kramer, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68333 | $116,300 | $116,300 | $116,300 | $116,300 | $116,300 |
Source: Ownwell
Property Tax Bills Across Kramer, Nebraska
In Kramer, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Kramer is $116,300. The local property tax rate is applied to this assessed value to calculate the annual tax bill. For many homeowners in Kramer, the tax bill is consistent across various percentiles, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $1,531. This uniformity suggests a stable tax environment within the area. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. Homeowners in Kramer face a property tax rate that results in a median tax bill significantly higher than the national median property tax rate of 0.99%, reflecting the area's specific valuation and tax policies. This can affect homeowners by increasing their annual financial obligations, making it essential for them to understand and potentially appeal their property assessments to ensure fair taxation.
Average Kramer Tax Bill
$1,531
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Kramer, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68333 | $1,531 | $1,531 | $1,531 | $1,531 | $1,531 |
Source: Ownwell