Hay Springs, Nebraska Property Taxes
The median property tax rate in Hay Springs, NE is 1.78%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Hay Springs at $70,370, the typical annual property tax bill reaches $1,222, which is below the national median of $2,690. Property taxes in Hay Springs 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 Hay Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hay Springs 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
Hay Springs, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$1,253
Ownwell’s Hay Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hay Springs with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hay Springs to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is the value assigned by Sheridan County for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Hay Springs, Nebraska
Property taxes in Hay Springs, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hay Springs is 1.78%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Hay Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hay Springs 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 Hay Springs' effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 69347 has both the highest and lowest median property tax rate of 1.78%. Understanding how these cities compare with Hay Springs provides valuable insights into the varying tax landscape across Sheridan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hay Springs Tax Rate
1.78%
Average Sheridan County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hay Springs, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69347 | 1.32% | 1.40% | 1.78% | 1.87% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Hay Springs, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hay Springs, Nebraska. 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 Sheridan 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 Hay Springs, 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 Hay Springs is $70,370, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $628, while the 75th percentile tax bill is $2,444. The highest median tax bill is $1,222 in the 69347 zip code, which is also the lowest. 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 Hay Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hay Springs Assessed Value
$70,370
Average Sheridan County Assessed Value
$70,524
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hay Springs, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69347 | $15,355 | $37,038 | $70,370 | $160,986 | $325,325 |
Source: Ownwell
Property Tax Bills Across Hay Springs, Nebraska
In Hay Springs, located in Sheridan County, NE, property tax bills are calculated based on the assessed value of a home. The process involves determining the market value of the property, which is then assessed at a certain percentage to establish the taxable value. Various factors influence this assessment, including the property's location, size, and condition, as well as any improvements made. Homeowners in Hay Springs can expect their property tax bills to vary significantly. For instance, the median home price is $70,370, and tax bills can range widely. At the 25th percentile, homeowners might pay around $628, while those at the 75th percentile could see bills as high as $2,444. The top 10% of tax bills can reach up to $4,525. Notably, the highest median tax bill in the area is $1,222, which is still above the national median property tax rate of 0.99%. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Hay Springs Tax Bill
$1,222
Average Sheridan County Tax Bill
$1,197
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hay Springs, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69347 | $183 | $628 | $1,222 | $2,444 | $4,525 |
Source: Ownwell