Hemingford, Nebraska Property Taxes
The median property tax rate in Hemingford, NE is 0.96%, slightly below the national median of 0.99% and significantly lower than the Nebraska state median of 1.75%. With a median home value in Hemingford of $286,648, the typical annual property tax bill amounts to $2,865, just above the national median of $2,690. Property taxes in Hemingford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hemingford'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 Hemingford or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hemingford, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,752
Ownwell’s Hemingford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hemingford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hemingford 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 Hemingford, Nebraska
Property taxes in Hemingford, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hemingford is 0.96%, which is below the U.S. national median of 0.99%. Local government entities within Hemingford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hemingford 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 Hemingford's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 69348 has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Hemingford provides valuable insights into the varying tax landscape across Sioux County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hemingford Tax Rate
0.96%
Average Sioux County Tax Rate
1.02%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hemingford, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69348 | 0.96% | 0.96% | 0.96% | 0.99% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Hemingford, Nebraska
In Hemingford, 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 Sioux 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 Hemingford, 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. For instance, in Hemingford, the median home price is $286,648, with tax bills ranging from $1,589 at the 25th percentile to $4,285 at the 90th percentile. The highest and lowest median tax bills both occur in the 69348 zip code, amounting to $2,865. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hemingford Assessed Value
$286,648
Average Sioux County Assessed Value
$127,559
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hemingford, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69348 | $112,171 | $163,585 | $286,648 | $352,038 | $446,774 |
Source: Ownwell
Property Tax Bills Across Hemingford, Nebraska
In Hemingford, located in Sioux County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. Various factors are considered in determining this value, including the size of the property, location, and any improvements or renovations made. Homeowners in Hemingford can expect their property tax bills to vary. For instance, the tax bill at the 25th percentile is around $1,589, while those at the 75th percentile can see bills as high as $3,465. The 90th percentile tax bill reaches up to $4,285. These variations depend on the assessed value of the property and the applicable tax rate. The median home price in Hemingford is $286,648, and while the national median property tax rate is 0.99%, local rates can differ. High property tax bills can significantly impact homeowners, affecting their overall cost of living and financial planning.
Average Hemingford Tax Bill
$2,865
Average Sioux County Tax Bill
$1,454
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hemingford, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69348 | $1,081 | $1,589 | $2,865 | $3,465 | $4,285 |
Source: Ownwell