Oxford, Nebraska Property Taxes
The median property tax rate in Oxford, NE is 1.70%, slightly lower than the state median of 1.75% but still considerably higher than the national median of 0.99%. With a median home value of $80,913, the typical annual property tax bill in Oxford reaches $1,295, which is below the national median of $2,690. Property taxes in Oxford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Oxford'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 Oxford 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
Oxford, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$1,376
Ownwell’s Oxford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oxford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oxford 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 Harlan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Oxford, Nebraska
Property taxes in Oxford, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxford is 1.70%, significantly higher than the U.S. national median of 0.99%. Local government entities within Oxford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxford 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 Oxford's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68967 has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Oxford provides valuable insights into the varying tax landscape across Harlan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oxford Tax Rate
1.70%
Average Harlan County Tax Rate
1.53%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oxford, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68967 | 1.16% | 1.17% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Oxford, Nebraska
In Oxford, 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 Harlan 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 Oxford, 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. Being aware of these valuation processes in Oxford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Oxford, the zip code with the highest and lowest median tax bill is 68967, with a median tax bill of $1,295.
Average Oxford Assessed Value
$80,913
Average Harlan County Assessed Value
$72,830
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oxford, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68967 | $16,253 | $37,761 | $80,913 | $187,683 | $310,150 |
Source: Ownwell
Property Tax Bills Across Oxford, Nebraska
In Oxford, Harlan County, NE, property tax bills are calculated based on the assessed value of a property, which is influenced by the market value. The median home price in the area stands at $80,913. Property tax rates are applied to this assessed value to determine the tax bill. For example, a homeowner in Oxford might see tax bills ranging from the 25th percentile at $633 to the 75th percentile at $2,327, and up to the 90th percentile at $4,497. Several factors contribute to the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, the tax obligations in Oxford can vary significantly, reflecting the diverse economic landscape within the region. Homeowners must stay informed about their property assessments and available exemptions to manage their tax liabilities effectively.
Average Oxford Tax Bill
$1,295
Average Harlan County Tax Bill
$1,149
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Oxford, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68967 | $273 | $633 | $1,295 | $2,327 | $4,497 |
Source: Ownwell