Holstein, Nebraska Property Taxes
The median property tax rate in Holstein, NE is 1.44%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Holstein at $94,639, the typical annual property tax bill reaches $1,388, which is below the national median of $2,690. Property taxes in Holstein 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 Holstein'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 Holstein 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
Holstein, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$1,363
Ownwell’s Holstein Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holstein with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holstein 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 Holstein, Nebraska
Property taxes in Holstein, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holstein is 1.44%, significantly higher than both the Nebraska state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Holstein set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holstein 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 Holstein's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68950 zip code has both the highest and lowest median property tax rate of 1.44%. Understanding how these cities compare with Holstein 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 Holstein Tax Rate
1.44%
Average Adams County Tax Rate
2.25%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holstein, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68950 | 1.11% | 1.28% | 1.44% | 1.44% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Holstein, Nebraska
In Holstein, 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 Holstein, 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 example, the median home price in Holstein is $94,639, with tax bills ranging from $927 at the 25th percentile to $6,313 at the 90th percentile. The zip code with the highest and lowest median tax bill is 68950, both at $1,388. 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 Holstein helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holstein Assessed Value
$94,639
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 Holstein, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68950 | $47,605 | $63,595 | $94,639 | $183,630 | $502,929 |
Source: Ownwell
Property Tax Bills Across Holstein, Nebraska
In Holstein, located in Adams County, NE, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, the median home price in Holstein is $94,639. The tax bills can vary significantly within the area. Homeowners at the 25th percentile can expect a tax bill around $927, while those at the 75th percentile might see bills as high as $2,833. The top 10% of homeowners face even steeper bills, with amounts reaching up to $6,313. Compared to the national median property tax rate of 0.99%, Holstein's tax rates can present a substantial financial consideration for homeowners. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community.
Average Holstein Tax Bill
$1,388
Average Adams County Tax Bill
$2,530
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Holstein, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68950 | $584 | $927 | $1,388 | $2,833 | $6,313 |
Source: Ownwell