Thedford, Nebraska Property Taxes
The median property tax rate in Thedford, Nebraska is 0.90%, which is lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $78,192 in Thedford, the typical annual property tax bill is approximately $805, significantly below the national median of $2,690. Property taxes in Thedford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Thedford'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 Thedford or another part of Thomas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thedford, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$704
Ownwell’s Thedford Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers aiming to estimate their annual property taxes in Thedford. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in the area to provide an accurate estimate of your property tax bill. This valuable resource helps you understand potential tax liabilities and plan your finances accordingly. For those interested in neighborhood-level trends, additional localized information can be found further down the page. Your property’s assessed value is determined by Thomas County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Thedford, Nebraska
Property taxes in Thedford, Nebraska, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thedford is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Thedford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thedford 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 Thedford's effective property tax rate to other areas in Nebraska and the national median. For comparison, the 69166 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Thedford provides valuable insights into the varying tax landscape across Thomas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thedford Tax Rate
0.90%
Average Thomas County Tax Rate
0.90%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thedford, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69166 | 0.89% | 0.90% | 0.90% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Thedford, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Thedford, 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 Thomas 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 Thedford, 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. Thedford's property tax bills vary significantly, with the 25th percentile at $358 and the 75th percentile at $1,765. The highest and lowest median tax bills are both $805, found in zip code 69166. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thedford Assessed Value
$78,192
Average Thomas County Assessed Value
$63,458
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thedford, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69166 | $8,629 | $36,361 | $78,192 | $162,497 | $373,032 |
Source: Ownwell
Property Tax Bills Across Thedford, Nebraska
In Thedford, Thomas County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and property characteristics. For homeowners in Thedford, the median home price is $78,192. Property tax bills can vary significantly, with the 25th percentile tax bill at $358 and the 75th percentile reaching $1,765. At the higher end, the 90th percentile tax bill is $3,363. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, understanding how these factors come together helps homeowners in Thedford anticipate their annual financial obligations and plan accordingly.
Average Thedford Tax Bill
$805
Average Thomas County Tax Bill
$669
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Thedford, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69166 | $99 | $358 | $805 | $1,765 | $3,363 |
Source: Ownwell