Lexington, Custer County, Nebraska Property Taxes

Name: Property Tax Bills Across Lexington, Custer County, Nebraska
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lexington, NE effective property tax rate: 1.06%, slightly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Lexington, NE home value: $322,389
Median annual Lexington, NE tax bill: $3,419, $1,019 higher than the national median property tax bill of $2,400.

How are property taxes in Custer calculated?

Property taxes in Lexington, NE are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Lexington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lexington, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lexington, Custer County, Nebraska Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.06%

Estimate Property Tax Bill

$3,417

$3,171

Ownwell’s Lexington Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lexington with just two data points. By entering your property's estimated assessed value, our calculator applies Lexington’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Custer County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lexington, Custer County, Nebraska

Local government entities are responsible for setting tax rates, leading to significant variations within a state. Each year, counties estimate their required budgets to provide essential services and divide that figure by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this annual process is the foundation for determining property taxes. In Lexington, located in Custer County, Nebraska, the effective property tax rate can be compared to other cities in Nebraska, as well as the state and national median rates. Nebraska's median property tax rate is slightly above the national median, reflecting the state's approach to funding public services. Understanding these variations can help property owners in Lexington make informed decisions about their property tax obligations.

Property Tax Rates Across Lexington, Custer County, Nebraska

Source: Ownwell

0.90%

1.37%

1.84%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Lexington Tax Rate

1.06%

Median Effective Custer County Tax Rate

1.38%

Median Effective Nebraska Tax Rate

1.75%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lexington, Custer County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
68850	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Lexington, Custer County, Nebraska

When examining property taxes in Lexington, NE, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Custer County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Custer County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lexington. For example, the median home price in Lexington is $322,389, with tax bills ranging significantly across the county. 68850 has the highest median home price at $322,389.

Property Tax Assessment Values Across Lexington, Custer County, Nebraska

Source: Ownwell

$45,774

$230,230

$414,686

Median Lexington Market Value

$322,389

Median Custer County Market Value

$99,711

Median Nebraska Market Value

$182,439

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lexington, Custer County, Nebraska

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
68850	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Lexington, Custer County, Nebraska

Property tax bills in Lexington, situated in Custer County, Nebraska, are determined by assessing the property's value and applying the local tax rate. The assessed value is based on the property's market value, which is influenced by factors such as location, size, and condition. With a median home price of $322,389, homeowners in Lexington face a property tax bill significantly higher than the national median of $2,400, with figures reaching $3,419 across various percentiles. This discrepancy highlights the burden on homeowners compared to the national average. High property taxes can impact homeowners' finances, making it essential to explore ways to reduce these costs. Ownwell offers a solution by providing property tax appeal and exemption services, helping homeowners potentially lower their tax bills. By leveraging their expertise, Ownwell ensures that homeowners pay only their fair share, offering peace of mind and financial relief. With Ownwell's assistance, homeowners can navigate the complexities of property tax assessments and secure potential savings.

Property Tax Bills Across Lexington, Custer County, Nebraska

Source: Ownwell

$764

$3,241

$5,717

Median Lexington Tax Bill

$3,419

Median Custer County Tax Bill

$1,435

Median Nebraska Tax Bill

$3,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Lexington, Custer County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
68850	N/A	N/A	N/A	N/A	N/A

Source: Ownwell