Lebanon, Nebraska Property Taxes
The median property tax rate in Lebanon, NE is 1.55%, which is considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Lebanon at $14,033, the typical annual property tax bill reaches $217, falling well below the national median of $2,690. Property taxes in Lebanon are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lebanon'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 Lebanon 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
Lebanon, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$218
Ownwell’s Lebanon Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lebanon with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lebanon to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in trends at a neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lebanon, Nebraska
Property taxes in Lebanon, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lebanon is 1.55%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lebanon set these rates annually, and they can vary across different neighborhoods. Each year, Lebanon 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 Lebanon's effective property tax rate to other areas and the national median. For comparison, the zip code 69036 has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these figures compare with Lebanon provides valuable insights into the varying tax landscape across Red Willow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lebanon Tax Rate
1.55%
Average Red Willow County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lebanon, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69036 | 1.09% | 1.55% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Nebraska
In Lebanon, 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 Red Willow 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 Lebanon, 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 Lebanon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lebanon Assessed Value
$14,033
Average Red Willow County Assessed Value
$101,885
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lebanon, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69036 | $1,662 | $3,016 | $14,033 | $34,733 | $114,935 |
Source: Ownwell
Property Tax Bills Across Lebanon, Nebraska
In Lebanon, property tax bills are calculated based on the assessed value of a property, which is determined by the local county assessor in Red Willow County. The assessed value is a percentage of the market value of the home. Factors such as property size, location, and market conditions play a significant role in determining the assessed value. Homeowners in Lebanon can expect a wide range of property tax bills, with the 25th percentile at $44 and the 75th percentile reaching $512. For those in the 90th percentile, tax bills can soar to $1,600. The median home price in Lebanon is $14,033, which is relatively low compared to the national median property tax rate of 0.99%. This means homeowners in Lebanon generally face lower property tax bills. However, the highest median tax bill recorded in the area is $217, specifically in the 69036 zip code. Understanding these factors can help homeowners better anticipate their property tax liabilities and manage their finances accordingly.
Average Lebanon Tax Bill
$217
Average Red Willow County Tax Bill
$1,615
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Lebanon, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69036 | $21 | $44 | $217 | $512 | $1,600 |
Source: Ownwell