Harvard, Nebraska Property Taxes
The median property tax rate in Harvard, NE is 2.31%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Harvard, the typical annual property tax bill reaches $1,056, exceeding the national median of $2,690. Property taxes in Harvard 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 Harvard'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 Harvard 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
Harvard, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$1,392
Ownwell’s Harvard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harvard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harvard 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 Harvard, Nebraska
Property taxes in Harvard, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harvard is 2.31%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Harvard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harvard 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 Harvard's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68944 has the highest median property tax rate of 2.31%, while the same zip code also has the lowest median tax rate of 2.31%. Understanding how these cities compare with Harvard provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harvard Tax Rate
2.31%
Average Clay County Tax Rate
1.67%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harvard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68944 | 1.11% | 1.31% | 2.31% | 2.31% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Harvard, Nebraska
In Harvard, 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 Clay 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 Harvard, 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 Harvard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 68944, and it stands at $1,056.
Average Harvard Assessed Value
$60,245
Average Clay County Assessed Value
$85,465
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harvard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68944 | $7,044 | $14,646 | $60,245 | $113,350 | $222,113 |
Source: Ownwell
Property Tax Bills Across Harvard, Nebraska
In Harvard, located in Clay County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and generally reflects a percentage of the property's market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Harvard, the median home price is $60,245, which serves as a basis for these calculations. Tax bills can vary significantly, with the 25th percentile at $274 and the 75th percentile reaching $2,129. At the higher end, the 90th percentile tax bill is $3,333. These variations are influenced by factors such as property improvements, neighborhood developments, and changes in local tax rates. Compared to the national median property tax rate of 0.99%, Harvard's tax rates can significantly impact homeowners, making it essential for property owners to understand how their tax bills are determined and what they can do to manage them effectively.
Average Harvard Tax Bill
$1,056
Average Clay County Tax Bill
$1,360
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Harvard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68944 | $74 | $274 | $1,056 | $2,129 | $3,333 |
Source: Ownwell