Humphrey, Nebraska Property Taxes
The median property tax rate in Humphrey, NE is 1.24%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $225,752 in Humphrey, the typical annual property tax bill is $2,365, slightly below the national median of $2,690. Property taxes in Humphrey are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Humphrey's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Humphrey or another part of the city, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Humphrey, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$2,799
Ownwell’s Humphrey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Humphrey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Humphrey 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 Humphrey, Nebraska
Property taxes in Humphrey, Nebraska, are crucial for financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Humphrey is 1.54%, significantly higher than both the Nebraska state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Humphrey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Humphrey 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 Humphrey's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68642 zip code has the highest median property tax rate of 1.54%, while the same 68642 zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Humphrey provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Humphrey Tax Rate
1.24%
Average Platte County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Humphrey, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68642 | 0.72% | 0.73% | 1.24% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Humphrey, Nebraska
In Humphrey, 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 Platte 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 Humphrey, 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 Humphrey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2365 in zip code 68642, which is also the lowest median tax bill, highlighting a consistent tax burden across the region.
Average Humphrey Assessed Value
$225,752
Average Platte County Assessed Value
$171,615
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Humphrey, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68642 | $91,720 | $131,184 | $225,752 | $432,466 | $773,635 |
Source: Ownwell
Property Tax Bills Across Humphrey, Nebraska
In Humphrey, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $225,752, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $1,434, while at the 75th percentile, the bill can rise to $4,200. Those in the 90th percentile could see tax bills as high as $6,720. Factors influencing these variations include the home's location within Platte County, property improvements, and overall market conditions. The highest and lowest median tax bills in the area are both recorded at $2,365 in the zip code 68642, reflecting a relatively stable tax environment. Compared to the national median property tax rate of 0.99%, homeowners in Humphrey may find their tax obligations vary significantly based on individual property assessments and local tax rates.
Average Humphrey Tax Bill
$2,365
Average Platte County Tax Bill
$2,760
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Humphrey, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68642 | $858 | $1,434 | $2,365 | $4,200 | $6,720 |
Source: Ownwell