Hershey, Nebraska Property Taxes
The median property tax rate in Hershey, NE is 1.63%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Hershey at $154,043, the typical annual property tax bill reaches $2,595, slightly below the national median of $2,690. Property taxes in Hershey are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hershey'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 Hershey 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
Hershey, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$2,511
Ownwell’s Hershey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hershey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hershey 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 Hershey, Nebraska
Property taxes in Hershey, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hershey is 1.63%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Hershey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hershey 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 Hershey's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69143 zip code has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these cities compare with Hershey provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hershey Tax Rate
1.63%
Average Lincoln County Tax Rate
1.93%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hershey, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69143 | 1.45% | 1.63% | 1.63% | 1.88% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Hershey, Nebraska
In Hershey, 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 Lincoln 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 Hershey, 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 Hershey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hershey is $154,043, with property tax bills ranging from $1,399 at the 25th percentile to $6,508 at the 90th percentile. The zip code with the highest median tax bill is 69143, amounting to $2,595.
Average Hershey Assessed Value
$154,043
Average Lincoln County Assessed Value
$120,701
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hershey, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69143 | $44,166 | $91,403 | $154,043 | $232,143 | $405,441 |
Source: Ownwell
Property Tax Bills Across Hershey, Nebraska
In Hershey, property tax bills are calculated based on the assessed value of a home, which is determined by the county's assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, the median home price in Hershey is $154,043. With property tax bills ranging from $1,399 at the 25th percentile to $6,508 at the 90th percentile, homeowners can see significant variations in their tax obligations. Factors such as the property's location within Lincoln County, any applicable exemptions, and the specific tax rate for the area all play a role in determining the final tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Hershey may experience different financial impacts based on these variables. Understanding how these elements interact can help homeowners better anticipate their tax responsibilities and manage their finances accordingly.
Average Hershey Tax Bill
$2,595
Average Lincoln County Tax Bill
$2,112
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hershey, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69143 | $495 | $1,399 | $2,595 | $3,865 | $6,508 |
Source: Ownwell