Raymond, Nebraska Property Taxes
The median property tax rate in Raymond, Nebraska is 1.23%, which is notably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Raymond at $389,550, the typical annual property tax bill is $4,647, surpassing the national median of $2,690. Property taxes in Raymond 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 Raymond'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 Raymond or another part of Lancaster County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Raymond, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$4,791
$4,446
Ownwell’s Raymond Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate annual property taxes in Raymond. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Raymond to project your property tax bill. This valuable tool provides clarity on potential tax obligations, helping you make informed financial decisions. For those interested in more granular insights, additional localized information is available by exploring neighborhood-level trends. Your property’s assessed value, determined by Lancaster County, forms the basis for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Raymond, Nebraska
Property taxes in Raymond, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raymond is 1.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Raymond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raymond 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 Raymond's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68428 has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Raymond 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 Raymond Tax Rate
1.23%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raymond, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68428 | 0.96% | 1.13% | 1.23% | 1.33% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Raymond, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Raymond, 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 Lancaster County Assessor 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 Raymond, 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. The median home price in Raymond is $389,550, and the median tax bill is $4,647. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Raymond Assessed Value
$389,550
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 Raymond, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68428 | $131,530 | $248,325 | $389,550 | $488,525 | $591,170 |
Source: Ownwell
Property Tax Bills Across Raymond, Nebraska
Property tax bills in Raymond, located in Lancaster County, Nebraska, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For instance, if the median home price in Raymond is $389,550, the assessed value would be a fraction of this amount. Local tax rates, set by various taxing authorities such as school districts, municipalities, and special districts, are then applied to the assessed value to determine the tax bill. Homeowners in Raymond can expect varying tax bills depending on their property's assessed value and the specific tax rates. For example, tax bills in the 25th percentile are around $2,854, while those in the 75th percentile reach approximately $5,919. At the higher end, the 90th percentile tax bill is about $7,077. These property tax bills significantly impact homeowners, affecting their annual budgeting and long-term financial planning. With the national median property tax rate at 0.99%, Raymond’s property tax rates can be compared to this benchmark to gauge relative affordability.
Average Raymond Tax Bill
$4,647
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Raymond, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68428 | $1,304 | $2,854 | $4,647 | $5,919 | $7,077 |
Source: Ownwell