Howells, Nebraska Property Taxes
The median property tax rate in Howells, NE is 0.88%, which is lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Howells at $521,275, the typical annual property tax bill reaches $4,594, significantly higher than the national median of $2,690. Property taxes in Howells are calculated based on the assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Howells'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 Howells 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
Howells, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$4,587
Ownwell’s Howells Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Howells with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Howells 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 Howells, Nebraska
Property taxes in Howells, Nebraska, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Howells is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Howells set these rates annually, and they can vary significantly across different neighborhoods. Each year, Howells 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 Howells's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68641 has the highest median property tax rate of 0.88%, while also having the lowest median tax rate of 0.88%. Understanding how these cities compare with Howells provides valuable insights into the varying tax landscape across Cuming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Howells Tax Rate
0.88%
Average Cuming County Tax Rate
1.19%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Howells, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68641 | 0.87% | 0.87% | 0.88% | 0.89% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Howells, Nebraska
In Howells, 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 local appraisal authorities 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 Howells, 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. For example, in the 68641 zip code, the highest median tax bill is $4,594. 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 Howells helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Howells Assessed Value
$521,275
Average Cuming County Assessed Value
$148,485
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Howells, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68641 | $150,493 | $206,895 | $521,275 | $890,685 | $1,169,821 |
Source: Ownwell
Property Tax Bills Across Howells, Nebraska
In Howells, located in Cuming County, NE, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Howells experience a range of tax bills, with the 25th percentile paying around $1,918 annually and the 75th percentile facing bills up to $7,839. For those in the 90th percentile, tax bills can soar to $10,367. The highest median tax bill in the area is $4,594, indicating a significant variance based on property values and specific circumstances. This system ensures that property taxes are proportionate to the property's value, impacting homeowners differently depending on their property’s assessed value. Compared to the national median property tax rate of 0.99%, Howells' property tax landscape demonstrates both the variability and potential financial burden on local homeowners.
Average Howells Tax Bill
$4,594
Average Cuming County Tax Bill
$1,766
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Howells, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68641 | $1,441 | $1,918 | $4,594 | $7,839 | $10,367 |
Source: Ownwell