Kennard, Nebraska Property Taxes
The median property tax rate in Kennard, Nebraska is 1.86%, significantly higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Kennard at $224,240, the typical annual property tax bill reaches $3,714, which exceeds the national median of $2,690. Property taxes in Kennard 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 Kennard'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 Kennard or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kennard, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$4,171
$3,870
Ownwell’s Kennard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kennard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kennard 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 Kennard, Nebraska
Property taxes in Kennard, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kennard is 1.86%, significantly higher than the U.S. national median of 0.99%. Local government entities within Kennard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kennard 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 Kennard's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68034 zip code has both the highest and lowest median property tax rate of 1.86%. Understanding how these cities compare with Kennard provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kennard Tax Rate
1.86%
Average Washington County Tax Rate
1.71%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kennard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68034 | 1.50% | 1.51% | 1.86% | 1.87% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Kennard, Nebraska
In Kennard, 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 Washington 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 Kennard, 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 Kennard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kennard is $224,240, with tax bills ranging significantly, from $2,348 at the 25th percentile to $8,458 at the 90th percentile. The zip code with the highest and lowest median tax bill is 68034, both at $3,714.
Average Kennard Assessed Value
$224,240
Average Washington County Assessed Value
$234,648
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kennard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68034 | $87,254 | $135,228 | $224,240 | $351,105 | $523,198 |
Source: Ownwell
Property Tax Bills Across Kennard, Nebraska
In Kennard, located in Washington County, NE, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual property tax bill. For example, with a median home price of $224,240, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $2,348, while those in the 75th percentile face bills closer to $5,631. At the higher end, the 90th percentile sees tax bills reaching up to $8,458. This variability in tax bills can have a substantial impact on homeowners, influencing their overall financial planning and the affordability of their homes. Compared to the national median property tax rate of 0.99%, Kennard's property tax rates can be quite burdensome for some residents, particularly those with higher-valued properties.
Average Kennard Tax Bill
$3,714
Average Washington County Tax Bill
$4,036
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Kennard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68034 | $1,375 | $2,348 | $3,714 | $5,631 | $8,458 |
Source: Ownwell