Amherst, Nebraska Property Taxes
The median property tax rate in Amherst, NE is 1.27%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $213,525 in Amherst, the typical annual property tax bill reaches $2,850, surpassing the national median of $2,690. Property taxes in Amherst are calculated based on the assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Amherst'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 Amherst or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amherst, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$2,712
Ownwell’s Amherst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amherst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amherst 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 Amherst, Nebraska
Property taxes in Amherst, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amherst is 1.27%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Amherst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amherst 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 Amherst's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68812 zip code has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Amherst provides valuable insights into the varying tax landscape across Buffalo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amherst Tax Rate
1.27%
Average Buffalo County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amherst, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68812 | 1.24% | 1.25% | 1.27% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Amherst, Nebraska
In Amherst, 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 Buffalo 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 Amherst, 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. The median home price in Amherst is $213,525, with tax bills ranging from $1,530 at the 25th percentile to $7,902 at the 90th percentile. The zip code with the highest and lowest median tax bill is 68812, both at $2,850. 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 Amherst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amherst Assessed Value
$213,525
Average Buffalo County Assessed Value
$185,962
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amherst, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68812 | $47,603 | $107,345 | $213,525 | $363,105 | $627,401 |
Source: Ownwell
Property Tax Bills Across Amherst, Nebraska
In Amherst, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The tax rate, applied to this assessed value, determines the final tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For example, the median home price in Amherst is $213,525. Homeowners in Amherst can expect a wide range of property tax bills. At the 25th percentile, the tax bill is around $1,530, while at the 75th percentile, it can reach up to $4,807. For those at the 90th percentile, the tax bill can be as high as $7,902. The highest median tax bill in the area is $2,850, found in the 68812 zip code, which also has the lowest median tax bill, illustrating the variability within the region. Compared to the national median property tax rate of 0.99%, Amherst's rates can significantly impact homeowners, influencing their overall housing affordability and financial planning.
Average Amherst Tax Bill
$2,850
Average Buffalo County Tax Bill
$3,186
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Amherst, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68812 | $633 | $1,530 | $2,850 | $4,807 | $7,902 |
Source: Ownwell