Reynolds, Nebraska Property Taxes
The median property tax rate in Reynolds, NE is 0.96%, slightly lower than the national median of 0.99% and significantly lower than the Nebraska state median of 1.75%. With a median home value in Reynolds of $150,514, the typical annual property tax bill amounts to $1,383, which is well below the national median of $2,690. Property taxes in Reynolds are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Reynolds' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Reynolds 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
Reynolds, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,445
-$15,143
Ownwell’s Reynolds Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Reynolds with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reynolds to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Reynolds, Nebraska
Property taxes in Reynolds, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reynolds is 0.96%, slightly below both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Reynolds set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reynolds 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 Reynolds' effective property tax rate to other areas in Nebraska and the national median. For comparison, the 68429 zip code has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these cities compare with Reynolds 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 Reynolds Tax Rate
0.96%
Average Thayer County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reynolds, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68429 | 0.69% | 0.89% | 0.96% | 1.07% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Reynolds, Nebraska
In Reynolds, 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 Appraisal District 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 Reynolds, 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 Reynolds helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Reynolds is 68429, with a value of $1,383.
Average Reynolds Assessed Value
$150,514
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 Reynolds, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68429 | $19,715 | $84,102 | $150,514 | $415,534 | $579,897 |
Source: Ownwell
Property Tax Bills Across Reynolds, Nebraska
In Reynolds, located in Thayer County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value of the property. For instance, if the median home price is $150,514, the assessed value would be a fraction of this amount, determined by local assessment practices. The local tax rate is then applied to this assessed value to calculate the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in Reynolds can expect a wide range of tax bills. For example, those at the 25th percentile face tax bills around $384, while those at the 75th percentile can see bills as high as $3,685. The highest median tax bill in the area is $1,383, which aligns with the national median property tax rate of 0.99%. These taxes fund essential local services, impacting community infrastructure and quality of life.
Average Reynolds Tax Bill
$1,383
Average Thayer County Tax Bill
$919
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Reynolds, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68429 | $189 | $384 | $1,383 | $3,685 | $5,316 |
Source: Ownwell