Humboldt, Nebraska Property Taxes
The median property tax rate in Humboldt, NE is 1.88%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Humboldt, the typical annual property tax bill reaches $727, which is significantly lower than the national median of $2,690. Property taxes in Humboldt 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 Humboldt'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 Humboldt 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
Humboldt, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$801
Ownwell’s Humboldt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Humboldt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Humboldt 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 Humboldt, Nebraska
Property taxes in Humboldt, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Humboldt is 1.88%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Humboldt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Humboldt 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 Humboldt's effective property tax rate to other counties in Nebraska and the national median. For comparison, the ZIP code 68376 has the highest median property tax rate of 1.88%, while the ZIP code 68376 also has the lowest median tax rate of 1.88%. Understanding how these areas compare with Humboldt provides valuable insights into the varying tax landscape across Richardson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Humboldt Tax Rate
1.88%
Average Richardson County Tax Rate
1.91%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Humboldt, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68376 | 1.14% | 1.16% | 1.88% | 1.88% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Humboldt, Nebraska
In Humboldt, 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 Richardson 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. Assessment notices in Humboldt 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 Humboldt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $727.00 in zip code 68376, which is also the lowest median tax bill.
Average Humboldt Assessed Value
$42,598
Average Richardson County Assessed Value
$51,575
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Humboldt, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68376 | $7,196 | $16,636 | $42,598 | $122,978 | $359,658 |
Source: Ownwell
Property Tax Bills Across Humboldt, Nebraska
In Humboldt, Richardson 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 estimated market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $42,598, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in Humboldt might see tax bills ranging from $276 at the 25th percentile to $1,863 at the 75th percentile, with the 90th percentile reaching up to $4,313. The median tax bill in the highest and lowest zip code, 68376, is $727, reflecting the localized nature of property taxes. Understanding how these factors interplay helps homeowners anticipate their financial obligations, ensuring they are better prepared to manage their property-related expenses.
Average Humboldt Tax Bill
$727
Average Richardson County Tax Bill
$905
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Humboldt, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68376 | $126 | $276 | $727 | $1,863 | $4,313 |
Source: Ownwell