Thomas County Property Taxes
The median property tax rate in Thomas County is 0.90%, which is lower than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $63,458 in Thomas County, the typical annual property tax bill amounts to $669, considerably below the national median of $2,690. Property taxes in Thomas County are calculated based on the tax assessed value, which usually falls below the actual market value due to various property tax exemptions, such as primary residence and agricultural exemptions. Understanding Thomas County’s specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Thedford or another part of Thomas County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thomas County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$571
Ownwell’s Thomas County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Thomas County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Thomas County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Thomas County, Nebraska
Property taxes in Thomas County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Thomas County is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Thomas County set these rates annually, and they can vary significantly between different areas within the county. Each year, Thomas County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Halsey has one of the higher property tax rates in Nebraska at 1.09%, while the city of Seneca boasts one of the lowest at 0.84%. Analyzing how Thomas County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Thomas County Tax Rate
0.90%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Thomas County, Nebraska
In Thomas County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Thomas County Appraisal District. The assessed value, however, 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. Assessment notices in Thomas County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Dunning has the highest median tax bill at $5,622, while Seneca has the lowest at $128. Being aware of these valuation processes in Thomas County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Thomas County Assessed Value
$63,458
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thomas County, Nebraska
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dunning | $650,660 | $650,660 | $650,660 | $650,660 | $650,660 |
| Halsey | $3,062 | $21,188 | $53,766 | $131,295 | $347,301 |
| Purdum | $24,490 | $56,090 | $95,858 | $119,888 | $123,156 |
| Seneca | $1,222 | $4,547 | $17,264 | $76,565 | $323,813 |
| Stapleton | $186,177 | $216,986 | $326,324 | $540,849 | $670,614 |
| Thedford | $8,629 | $36,361 | $78,192 | $162,497 | $373,032 |
Source: Ownwell
Property Tax Bills Across Thomas County, Nebraska
In Thomas County, NE, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of your property. Once the assessed value is established, the local tax rate is applied to this value to calculate the tax bill. Several factors influence the tax bill, including property location, size, and any applicable exemptions. For instance, the median home price in Thomas County is $63,458, and tax bills can vary significantly. The 25th percentile tax bill is $185, while the 75th percentile tax bill is $1,654. At the higher end, the 90th percentile tax bill reaches $3,744. The impact on homeowners can be substantial, as property taxes fund essential local services such as schools, public safety, and infrastructure. For comparison, the national median property tax rate is 0.99%, making it crucial for homeowners to understand how their local rates and assessed values affect their overall tax burden.
Average Thomas County Tax Bill
$669
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690