Raymond, Nebraska Property Taxes
The median property tax rate in Raymond, Nebraska is 1.31%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Raymond, the typical annual property tax bill reaches $5,466, exceeding the national median of $2,690. Property taxes in Raymond 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 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 the city, understanding 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
1.31%
Estimate Property Tax Bill
$5,192
Ownwell’s Raymond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raymond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raymond 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 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 1.31%, 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 68428 zip code has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Raymond provides valuable insights into the varying tax landscape across Seward County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raymond Tax Rate
1.31%
Average Seward County Tax Rate
1.59%
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 | 1.31% | 1.31% | 1.31% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Raymond, Nebraska
In Raymond, 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 Seward 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. The median home price in Raymond is $396,338, with tax bills ranging from $4,785 at the 25th percentile to $7,279 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 68428, with a median of $5,466. By understanding these valuation concepts, property owners can navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Raymond Assessed Value
$396,338
Average Seward County Assessed Value
$185,126
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 | $299,000 | $330,461 | $396,338 | $500,035 | $552,844 |
Source: Ownwell
Property Tax Bills Across Raymond, Nebraska
In Raymond, Seward County, NE, property tax bills are determined by a combination of the property's assessed value and the local tax rate. The assessed value is usually a percentage of the market value of the property, which is determined by county assessors based on comparable sales and other factors. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Raymond, the median home price stands at $396,338. Property tax bills can vary significantly, with the 25th percentile at $4,785 and the 75th percentile at $6,723, while the 90th percentile reaches up to $7,279. These taxes fund essential community services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Comparatively, the national median property tax rate is 0.99%, and understanding the local tax structure helps homeowners budget effectively and plan for their financial futures.
Average Raymond Tax Bill
$5,466
Average Seward County Tax Bill
$2,810
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 | $4,224 | $4,785 | $5,466 | $6,723 | $7,279 |
Source: Ownwell