Osmond, Nebraska Property Taxes
The median property tax rate in Osmond, NE is 1.83%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Osmond at $127,620, the typical annual property tax bill reaches $2,171, which is below the national median of $2,690. Property taxes in Osmond 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 Osmond'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 Osmond 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
Osmond, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.83%
Estimate Property Tax Bill
$2,335
Ownwell’s Osmond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osmond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osmond 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 Osmond, Nebraska
Property taxes in Osmond, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osmond is 1.83%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Osmond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osmond 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 Osmond's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68765 zip code has both the highest and lowest median property tax rate of 1.83%. Understanding how these cities compare with Osmond provides valuable insights into the varying tax landscape across Pierce County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osmond Tax Rate
1.83%
Average Pierce County Tax Rate
1.46%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osmond, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68765 | 1.01% | 1.06% | 1.83% | 1.83% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Osmond, Nebraska
In Osmond, 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 Pierce 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 Osmond, 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 Osmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68765 has the highest and lowest median tax bill at $2,171.
Average Osmond Assessed Value
$127,620
Average Pierce County Assessed Value
$145,155
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osmond, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68765 | $23,362 | $68,092 | $127,620 | $286,485 | $652,485 |
Source: Ownwell
Property Tax Bills Across Osmond, Nebraska
In Osmond, located in Pierce County, NE, property tax bills are calculated based on the assessed value of homes and the local tax rate. The median home price in this area is $127,620. Homeowners can expect their tax bills to vary significantly depending on the value of their property and the specific tax rate applied by local authorities. For instance, tax bills in the 25th percentile are around $1,168, while those in the 75th percentile can reach up to $4,241. At the higher end, the 90th percentile tax bills can go up to $7,016. Several factors influence these tax bills, including the property's assessed value, local levies, and any applicable exemptions. For homeowners, understanding these components is crucial as they directly impact annual financial obligations. Compared to the national median property tax rate of 0.99%, the variability in Osmond's tax bills highlights the importance of localized assessments and the significant differences that can exist even within a single county.
Average Osmond Tax Bill
$2,171
Average Pierce County Tax Bill
$2,274
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Osmond, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68765 | $441 | $1,168 | $2,171 | $4,241 | $7,016 |
Source: Ownwell