Harvard, Nebraska Property Taxes
The median property tax rate in Harvard, NE is 1.10%, slightly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Harvard, the typical annual property tax bill reaches $2,367, which is below the national median of $2,690. Property taxes in Harvard are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Harvard'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 Harvard 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
Harvard, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$2,967
Ownwell’s Harvard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harvard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harvard 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 Harvard, Nebraska
Property taxes in Harvard, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harvard is 1.10%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Harvard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harvard 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 Harvard's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68944 zip code has the highest median property tax rate of 1.10%, while the 68944 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Harvard provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harvard Tax Rate
1.10%
Average Hamilton County Tax Rate
1.50%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harvard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68944 | 1.06% | 1.08% | 1.10% | 1.12% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Harvard, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harvard, Nebraska. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by Hamilton County 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 Harvard, 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. In Hamilton County, the median home price is $269,718, with tax bills ranging from $1,802 at the 25th percentile to $9,893 at the 90th percentile. The zip code 68944 has both the highest and lowest median tax bill, which is $2,367. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harvard Assessed Value
$269,718
Average Hamilton County Assessed Value
$155,855
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harvard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68944 | $128,570 | $164,274 | $269,718 | $405,684 | $921,328 |
Source: Ownwell
Property Tax Bills Across Harvard, Nebraska
In Harvard, located in Hamilton County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual property tax bill. For example, with a median home price of $269,718, homeowners can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is around $1,802, while at the 75th percentile, it rises to approximately $4,336. For those at the 90th percentile, the tax bill can be as high as $9,893. The tax rate in Hamilton County can be compared to the national median property tax rate of 0.99%. Homeowners in Harvard should be aware that their property taxes fund essential local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated can help homeowners manage their budgets and anticipate future tax obligations.
Average Harvard Tax Bill
$2,367
Average Hamilton County Tax Bill
$2,134
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Harvard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68944 | $1,391 | $1,802 | $2,367 | $4,336 | $9,893 |
Source: Ownwell