Holdrege, Nebraska Property Taxes
The median property tax rate in Holdrege, NE is 1.69%, which is significantly higher than the national median of 0.99% but slightly below the Nebraska state median of 1.75%. With a median home value of $112,752 in Holdrege, the typical annual property tax bill amounts to $1,848, still lower than the national median of $2,690. Property taxes in Holdrege are determined based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Gaining a thorough understanding of Holdrege's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the center of Holdrege or in another part of Phelps County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holdrege, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$1,906
Ownwell’s Holdrege Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holdrege with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holdrege 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 Holdrege, Nebraska
Property taxes in Holdrege, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holdrege is 1.69%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Holdrege set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holdrege 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 Holdrege's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68949 zip code has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Holdrege provides valuable insights into the varying tax landscape across Phelps County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holdrege Tax Rate
1.69%
Average Phelps County Tax Rate
1.69%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holdrege, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68949 | 1.28% | 1.69% | 1.69% | 1.69% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Holdrege, Nebraska
In Holdrege, 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 Phelps 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 Holdrege, 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 Holdrege is $112,752, with tax bills ranging from $1,004 at the 25th percentile to $4,964 at the 90th percentile. Notably, the highest and lowest median tax bills are both $1,848 in the 68949 zip code. 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 Holdrege helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holdrege Assessed Value
$112,752
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 Holdrege, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68949 | $27,880 | $64,010 | $112,752 | $186,434 | $304,673 |
Source: Ownwell
Property Tax Bills Across Holdrege, Nebraska
In Holdrege, located in Phelps County, NE, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Holdrege can expect a median home price of $112,752. The property tax rate in this area is then applied to the assessed value to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made. In Holdrege, the 25th percentile tax bill is around $1,004, while the 75th percentile reaches $3,027. For those at the higher end, the 90th percentile tax bill can be as much as $4,964. The median tax bill stands at $1,848, which is higher than the national median property tax rate of 0.99%. These property taxes significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Understanding how these taxes are calculated helps residents plan their finances more effectively.
Average Holdrege Tax Bill
$1,848
Average Phelps County Tax Bill
$1,908
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Holdrege, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68949 | $425 | $1,004 | $1,848 | $3,027 | $4,964 |
Source: Ownwell