Byron, Nebraska Property Taxes
The median property tax rate in Byron, NE is 1.31%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $67,670 in Byron, the typical annual property tax bill amounts to $852, which is below the national median of $2,690. Property taxes in Byron are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Byron'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 Byron or another part of Thayer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Byron, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$886
-$9,290
Ownwell’s Byron Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Byron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Byron to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more granular data, localized information on a neighborhood level is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Byron, Nebraska
Property taxes in Byron, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Byron is 1.31%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Byron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Byron 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 Byron's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68325 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 Byron provides valuable insights into the varying tax landscape across Thayer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Byron Tax Rate
1.31%
Average Thayer County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Byron, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68325 | 0.92% | 0.94% | 1.31% | 1.34% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Byron, Nebraska
In Byron, 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 Thayer 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 Byron, 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. For instance, the median home price in Byron is $67,670, with tax bills ranging from $324 at the 25th percentile to $6,607 at the 90th percentile. The highest and lowest median tax bills are both $852 in the 68325 zip code. 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 Byron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Byron Assessed Value
$67,670
Average Thayer County Assessed Value
$73,318
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Byron, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68325 | $8,574 | $25,624 | $67,670 | $331,942 | $622,696 |
Source: Ownwell
Property Tax Bills Across Byron, Nebraska
In Byron, located in Thayer County, NE, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in Byron is $67,670. Property taxes are calculated by multiplying the assessed value of the property by the local tax rate. For example, the 25th percentile tax bill is $324, while the 75th percentile tax bill reaches $3,400, and the 90th percentile tax bill can go up to $6,607. These variations highlight the impact of property value and local tax rates on the total tax bill. Homeowners in Byron should be aware of these factors as they significantly influence their annual expenses. Compared to the national median property tax rate of 0.99%, Byron's property tax rates can vary widely, making it crucial for homeowners to understand their specific assessments. By staying informed, homeowners can better manage their financial planning and potentially explore options for appealing their property tax assessments if they believe they are overvalued.
Average Byron Tax Bill
$852
Average Thayer County Tax Bill
$919
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Byron, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68325 | $96 | $324 | $852 | $3,400 | $6,607 |
Source: Ownwell