Phelps County Property Taxes
The median property tax rate in Phelps County is 1.69%, which is significantly higher than the national median of 0.99% but slightly below Nebraska's state median of 1.75%. With the median home value in Phelps County at $118,096, the typical annual property tax bill amounts to $1,908, which is lower than the national median of $2,690. Property taxes in Phelps County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Phelps County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Holdrege or another part of Phelps County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Phelps County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$1,996
Ownwell’s Phelps County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Phelps County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Phelps County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Phelps County, Nebraska
Property taxes in Phelps County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Phelps County is 1.69%, which is higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Phelps County set these rates annually, and they can vary significantly between different areas within the county. Each year, Phelps County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Phelps County's effective property tax rate with other counties in Nebraska and the national median. For comparison, the city of Bertrand has one of the higher property tax rates in Nebraska at 2.14%, while the city of Wilcox boasts one of the lowest at 1.05%. Analyzing how Phelps County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Phelps County Tax Rate
1.69%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Phelps County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Atlanta | 1.16% | 1.16% | 1.16% | 1.16% | 1.51% |
| Axtell | 1.03% | 1.12% | 1.13% | 1.13% | 1.13% |
| Bertrand | 1.12% | 1.14% | 2.14% | 2.14% | 2.14% |
| Elm Creek | 1.19% | 1.28% | 1.31% | 1.41% | 1.41% |
| Funk | 1.13% | 1.13% | 1.33% | 1.48% | 1.48% |
| Holdrege | 1.28% | 1.69% | 1.69% | 1.69% | 1.69% |
| Kearney | 1.41% | 1.47% | 1.48% | 1.48% | 1.48% |
| Loomis | 0.94% | 0.96% | 1.33% | 1.33% | 1.33% |
| Overton | 0.93% | 1.20% | 1.21% | 1.22% | 1.23% |
| Wilcox | 1.04% | 1.04% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Phelps County, Nebraska
In Phelps County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Phelps County Appraisal District. The assessed value, however, 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. Assessment notices in Phelps County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Overton has the highest median tax bill at $4,831, while Atlanta has the lowest at $414. Being aware of these valuation processes in Phelps County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Phelps County Assessed Value
$118,096
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Phelps County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Atlanta | $5,100 | $15,968 | $35,475 | $90,765 | $132,628 |
| Axtell | $147,131 | $188,625 | $330,022 | $965,461 | $1,534,538 |
| Bertrand | $27,776 | $58,665 | $109,770 | $192,763 | $542,619 |
| Elm Creek | $135,560 | $186,399 | $345,947 | $630,084 | $976,486 |
| Funk | $20,177 | $75,558 | $186,060 | $315,146 | $778,159 |
| Holdrege | $27,880 | $64,010 | $112,752 | $186,434 | $304,673 |
| Kearney | $157,284 | $237,735 | $285,027 | $362,280 | $1,626,681 |
| Loomis | $37,070 | $76,465 | $133,142 | $240,378 | $718,200 |
| Overton | $92,655 | $225,512 | $351,729 | $790,775 | $1,051,937 |
| Wilcox | $113,570 | $188,178 | $279,168 | $443,537 | $990,112 |
Source: Ownwell
Property Tax Bills Across Phelps County, Nebraska
In Phelps 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 a percentage of the market value of the property. Homeowners in Phelps County face a median home price of $118,096, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors, including property size, location, and improvements, influence the assessed value. For instance, tax bills in Phelps County range significantly, with the 25th percentile tax bill at $1,033 and the 90th percentile reaching $5,607. This variation highlights the impact of property characteristics on tax obligations. Compared to the national median property tax rate of 0.99%, homeowners in Phelps County experience a diverse range of tax bills. While some cities like Overton see high median tax bills of $4,831, others like Atlanta enjoy much lower median bills at $414. This disparity underscores the importance of understanding local tax assessments and rates for homeowners.
Average Phelps County Tax Bill
$1,908
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Phelps County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Atlanta | $66 | $171 | $414 | $1,081 | $1,637 |
| Axtell | $1,668 | $2,138 | $3,733 | $10,776 | $16,256 |
| Bertrand | $569 | $1,149 | $1,984 | $3,413 | $6,611 |
| Elm Creek | $1,668 | $2,331 | $4,541 | $8,172 | $12,809 |
| Funk | $300 | $1,058 | $2,508 | $3,986 | $9,255 |
| Holdrege | $425 | $1,004 | $1,848 | $3,027 | $4,964 |
| Kearney | $2,322 | $3,432 | $4,205 | $5,344 | $22,023 |
| Loomis | $409 | $939 | $1,713 | $2,858 | $7,229 |
| Overton | $1,120 | $2,305 | $4,831 | $8,831 | $11,726 |
| Wilcox | $1,325 | $2,131 | $2,946 | $4,656 | $10,261 |
Source: Ownwell