Lincoln, Nebraska Property Taxes
The median property tax rate in Lincoln, NE is 1.52%, which is considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $237,600 in Lincoln, the typical annual property tax bill reaches $3,563, surpassing the national median of $2,690. Property taxes in Lincoln are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lincoln'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 Lincoln 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
Lincoln, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$3,612
Ownwell’s Lincoln Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincoln with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincoln 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 Lincoln, Nebraska
Property taxes in Lincoln, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln is 1.52%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Lincoln set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincoln 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 Lincoln's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68526 zip code has the highest median property tax rate of 1.56%, while the 68517 zip code has the lowest median tax rate of 1.20%. Understanding how these areas compare with Lincoln 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 Lincoln Tax Rate
1.52%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68502 | 1.30% | 1.41% | 1.50% | 1.60% | 1.71% |
| 68503 | 1.29% | 1.41% | 1.49% | 1.59% | 1.70% |
| 68504 | 1.30% | 1.40% | 1.49% | 1.58% | 1.65% |
| 68505 | 1.36% | 1.44% | 1.50% | 1.56% | 1.62% |
| 68506 | 1.34% | 1.42% | 1.50% | 1.57% | 1.64% |
| 68507 | 1.32% | 1.42% | 1.49% | 1.57% | 1.64% |
| 68508 | 1.14% | 1.40% | 1.52% | 1.70% | 1.84% |
| 68510 | 1.34% | 1.42% | 1.50% | 1.58% | 1.66% |
| 68512 | 1.40% | 1.48% | 1.55% | 1.61% | 1.69% |
| 68514 | 0.78% | 1.21% | 1.45% | 1.64% | 1.69% |
| 68516 | 1.32% | 1.47% | 1.55% | 1.61% | 1.68% |
| 68517 | 1.05% | 1.14% | 1.20% | 1.26% | 1.34% |
| 68520 | 0.34% | 0.86% | 1.47% | 1.67% | 1.83% |
| 68521 | 1.34% | 1.47% | 1.54% | 1.60% | 1.67% |
| 68522 | 1.31% | 1.47% | 1.53% | 1.59% | 1.65% |
| 68523 | 0.38% | 1.15% | 1.26% | 1.43% | 1.59% |
| 68524 | 1.26% | 1.42% | 1.48% | 1.55% | 1.61% |
| 68526 | 1.25% | 1.48% | 1.56% | 1.65% | 1.74% |
| 68527 | 0.28% | 0.97% | 1.41% | 1.56% | 1.63% |
| 68528 | 1.26% | 1.43% | 1.51% | 1.57% | 1.64% |
| 68531 | 1.10% | 1.19% | 1.30% | 1.40% | 1.54% |
| 68532 | 1.04% | 1.16% | 1.30% | 1.42% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln, Nebraska
In Lincoln, 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 Assessor's Office 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 Lincoln, 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 highest median tax bill in Lincoln is $6,201 in zip code 68526, while the lowest is $2,267 in zip code 68508. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lincoln Assessed Value
$237,600
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 Lincoln, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68502 | $126,200 | $158,100 | $202,000 | $274,300 | $379,200 |
| 68503 | $111,300 | $136,100 | $165,000 | $198,400 | $243,870 |
| 68504 | $125,900 | $151,300 | $178,300 | $208,700 | $261,850 |
| 68505 | $154,500 | $186,075 | $219,600 | $257,725 | $356,550 |
| 68506 | $162,100 | $193,000 | $236,000 | $303,300 | $370,960 |
| 68507 | $142,400 | $170,400 | $205,250 | $257,800 | $351,370 |
| 68508 | $86,980 | $117,425 | $160,450 | $245,275 | $419,060 |
| 68510 | $142,000 | $173,800 | $213,500 | $258,100 | $316,090 |
| 68512 | $189,980 | $225,200 | $295,100 | $437,300 | $637,200 |
| 68514 | $219,680 | $276,825 | $374,100 | $415,175 | $495,070 |
| 68516 | $215,200 | $255,800 | $320,200 | $401,350 | $488,040 |
| 68517 | $346,920 | $401,000 | $469,400 | $553,700 | $677,500 |
| 68520 | $80,000 | $137,950 | $415,200 | $610,400 | $855,020 |
| 68521 | $111,400 | $187,400 | $233,400 | $289,050 | $351,200 |
| 68522 | $160,490 | $195,975 | $227,450 | $264,700 | $314,500 |
| 68523 | $82,500 | $312,800 | $422,300 | $555,975 | $744,720 |
| 68524 | $146,990 | $183,675 | $205,100 | $240,900 | $284,080 |
| 68526 | $216,900 | $281,450 | $397,050 | $529,075 | $665,260 |
| 68527 | $80,000 | $273,300 | $427,900 | $511,100 | $710,720 |
| 68528 | $156,400 | $187,250 | $234,750 | $298,500 | $432,540 |
| 68531 | $341,460 | $387,625 | $466,250 | $562,025 | $661,660 |
| 68532 | $330,380 | $413,600 | $463,900 | $520,300 | $579,380 |
Source: Ownwell
Property Tax Bills Across Lincoln, Nebraska
Property tax bills in Lincoln, Lancaster County, NE, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Lincoln, the median home price is $237,600. The tax bill can vary significantly, with the 25th percentile at $2,687 and the 75th percentile at $4,961, illustrating the range in property tax burdens within the city. Homeowners in the 90th percentile face even higher bills, averaging $6,753 annually. Several factors influence the final tax bill, including property location, improvements, and market conditions. For instance, properties in the 68526 zip code have the highest median tax bill at $6,201, while those in the 68508 zip code have the lowest at $2,267. These variations significantly impact homeowners' financial planning and budgeting, making it crucial to understand how property taxes are assessed and calculated.
Average Lincoln Tax Bill
$3,563
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68502 | $1,782 | $2,326 | $3,034 | $4,174 | $5,861 |
| 68503 | $1,562 | $1,959 | $2,428 | $3,004 | $3,727 |
| 68504 | $1,716 | $2,170 | $2,642 | $3,139 | $4,042 |
| 68505 | $2,185 | $2,781 | $3,235 | $3,883 | $5,537 |
| 68506 | $2,320 | $2,839 | $3,500 | $4,626 | $5,704 |
| 68507 | $1,890 | $2,439 | $3,038 | $3,949 | $5,304 |
| 68508 | $1,084 | $1,632 | $2,267 | $3,450 | $6,674 |
| 68510 | $1,984 | $2,544 | $3,200 | $3,904 | $4,803 |
| 68512 | $2,676 | $3,446 | $4,630 | $7,016 | $10,219 |
| 68514 | $1,038 | $3,887 | $5,299 | $6,431 | $7,418 |
| 68516 | $2,942 | $3,837 | $4,952 | $6,201 | $7,613 |
| 68517 | $3,805 | $4,761 | $5,637 | $6,990 | $8,115 |
| 68520 | $340 | $1,543 | $4,540 | $9,335 | $12,786 |
| 68521 | $1,171 | $2,812 | $3,596 | $4,460 | $5,381 |
| 68522 | $2,300 | $2,955 | $3,485 | $4,067 | $4,684 |
| 68523 | $941 | $3,182 | $5,918 | $7,324 | $9,083 |
| 68524 | $2,085 | $2,624 | $3,058 | $3,663 | $4,284 |
| 68526 | $2,451 | $4,073 | $6,201 | $8,409 | $10,976 |
| 68527 | $204 | $1,692 | $6,074 | $7,193 | $9,379 |
| 68528 | $2,046 | $2,743 | $3,452 | $4,511 | $6,068 |
| 68531 | $4,618 | $4,927 | $5,330 | $7,442 | $9,172 |
| 68532 | $3,655 | $5,050 | $6,143 | $6,957 | $7,712 |
Source: Ownwell