Firth, Nebraska Property Taxes
The median property tax rate in Firth, NE is 1.29%, which is higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $314,800 in Firth, the typical annual property tax bill amounts to $4,277, significantly surpassing the national median of $2,690. Property taxes in Firth are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Firth's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Firth or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Firth, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$4,061
Ownwell’s Firth Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Firth with just two data points. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Firth to project your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in exploring trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Firth, Nebraska
Property taxes in Firth, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Firth is 1.29%, significantly higher than the U.S. national median of 0.99%. Local government entities within Firth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Firth 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 Firth's effective property tax rate to other areas in Lancaster County and the national median. For comparison, the 68358 zip code has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Firth provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Firth Tax Rate
1.29%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Firth, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68358 | 1.10% | 1.19% | 1.29% | 1.47% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Firth, Nebraska
In Firth, 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 Lancaster 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 Firth, 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, the median home price in Firth is $314,800, with tax bills ranging from $2,631 at the 25th percentile to $6,591 at the 90th percentile. The zip code with the highest and lowest median tax bill is 68358, both at $4,277. Being aware of these valuation processes in Firth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Firth Assessed Value
$314,800
Average Lancaster County Assessed Value
$238,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Firth, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68358 | $133,680 | $185,800 | $314,800 | $458,500 | $550,080 |
Source: Ownwell
Property Tax Bills Across Firth, Nebraska
In Firth, located in Lancaster County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Firth is $314,800, and homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate applicable to their area. Factors such as property size, location, and improvements can influence the assessed value. For example, tax bills in the 25th percentile are around $2,631, while those in the 75th percentile reach approximately $5,626. The highest median tax bill in the area is $4,277, with the corresponding zip code being 68358. Homeowners in Firth should be aware that their property tax bill can significantly impact their annual expenses. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Firth Tax Bill
$4,277
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Firth, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68358 | $1,676 | $2,631 | $4,277 | $5,626 | $6,591 |
Source: Ownwell