Hastings, Nebraska Property Taxes
The median property tax rate in Hastings, NE is 2.25%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Hastings being $118,746, the typical annual property tax bill reaches $2,539, which is below the national median of $2,690. Property taxes in Hastings 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 Hastings'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 Hastings 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
Hastings, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$2,672
Ownwell’s Hastings Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hastings with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hastings 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 Hastings, Nebraska
Property taxes in Hastings, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hastings is 2.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hastings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hastings 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 Hastings's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68901 zip code has the highest median property tax rate of 2.25%, while the same zip code also has the lowest median tax rate of 2.25%. Understanding how these areas compare with Hastings provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hastings Tax Rate
2.25%
Average Adams County Tax Rate
2.25%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hastings, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68901 | 1.46% | 2.25% | 2.25% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Hastings, Nebraska
In Hastings, 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 Adams 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 Hastings, 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 Hastings helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Hastings is $2,541, and the lowest is also $2,541, both found in zip code 68901.
Average Hastings Assessed Value
$118,746
Average Adams County Assessed Value
$124,114
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hastings, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68901 | $52,134 | $80,870 | $118,814 | $176,177 | $280,462 |
Source: Ownwell
Property Tax Bills Across Hastings, Nebraska
In Hastings, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $118,746, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors that influence the assessed value include the property's location, size, and condition, as well as any improvements made. In Hastings, the tax bill can range significantly, with the 25th percentile paying around $1,673 annually and the 90th percentile reaching up to $5,444. Comparatively, the median property tax bill in Hastings's zip code 68901 is $2,541, which is higher than the national median property tax rate of 0.99%. These tax bills directly impact homeowners, influencing their monthly mortgage payments and overall housing affordability. Understanding these factors can help homeowners better anticipate their annual tax obligations.
Average Hastings Tax Bill
$2,539
Average Adams County Tax Bill
$2,530
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hastings, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68901 | $832 | $1,674 | $2,541 | $3,689 | $5,445 |
Source: Ownwell