Alma, Nebraska Property Taxes
The median property tax rate in Alma, Nebraska is 1.70%, slightly lower than the state median of 1.75% but still higher than the national median of 0.99%. With the median home value in Alma at $94,132, the typical annual property tax bill reaches $1,565, which is below the national median of $2,690. Property taxes in Alma are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Alma'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 Alma or another part of Harlan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alma, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$1,600
Ownwell’s Alma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alma 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 Alma, Nebraska
Property taxes in Alma, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alma is 1.70%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Alma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alma 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 Alma's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68920 zip code has both the highest and lowest median property tax rate of 1.70%. Understanding how these cities compare with Alma provides valuable insights into the varying tax landscape across Harlan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alma Tax Rate
1.70%
Average Harlan County Tax Rate
1.53%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alma, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68920 | 1.27% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Alma, Nebraska
In Alma, 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 Harlan 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 Alma, 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 Alma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68920 in Alma has both the highest and lowest median tax bill, standing at $1565.
Average Alma Assessed Value
$94,132
Average Harlan County Assessed Value
$72,830
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alma, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68920 | $34,298 | $59,529 | $94,132 | $166,802 | $272,546 |
Source: Ownwell
Property Tax Bills Across Alma, Nebraska
In Alma, located in Harlan 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 reflects the market value of the property. This value is then multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Alma, the median home price is $94,132, and property tax bills can vary significantly. At the 25th percentile, the tax bill is $954, while at the 75th percentile, it rises to $2,710. The top 10% of property tax bills in the area can go up to $3,981. These variations depend on factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Alma's tax rates can be a significant consideration for homeowners. High property taxes can impact affordability and the overall cost of owning a home, making it crucial for residents to understand and manage their property tax obligations effectively.
Average Alma Tax Bill
$1,565
Average Harlan County Tax Bill
$1,149
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Alma, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68920 | $555 | $954 | $1,565 | $2,710 | $3,981 |
Source: Ownwell