Hooper, Nebraska Property Taxes
The median property tax rate in Hooper, NE is 1.14%, which is higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With a median home value of $149,525 in Hooper, the typical annual property tax bill amounts to $1,703, which is below the national median of $2,690. Property taxes in Hooper are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hooper'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 Hooper 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
Hooper, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,705
$1,582
Ownwell’s Hooper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hooper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hooper 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 Hooper, Nebraska
Property taxes in Hooper, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hooper is 1.14%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Hooper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hooper 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 Hooper's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68031 zip code has both the highest and lowest median property tax rate of 1.14%. Understanding how these cities compare with Hooper provides valuable insights into the varying tax landscape across Cuming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hooper Tax Rate
1.14%
Average Cuming County Tax Rate
1.19%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hooper, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68031 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Hooper, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hooper, Nebraska. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the local 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 Hooper, 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 Hooper helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Hooper, the highest and lowest median tax bills are both $1,703, found in zip code 68031. This highlights the uniformity in tax bills across the area, making it essential for homeowners to stay informed and proactive in managing their property taxes.
Average Hooper Assessed Value
$149,525
Average Cuming County Assessed Value
$148,485
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hooper, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68031 | $149,525 | $149,525 | $149,525 | $149,525 | $149,525 |
Source: Ownwell
Property Tax Bills Across Hooper, Nebraska
In Hooper, located in Cuming County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $149,525, homeowners in Hooper face a median tax bill of $1,703, which is significantly higher than the national median property tax rate of 0.99%. This higher tax rate can impact homeowners by increasing their annual expenses, making budgeting for property taxes a crucial aspect of homeownership in the area. Factors such as property improvements, market trends, and local government budgets also influence the assessed value and, consequently, the tax bill. Understanding these elements can help homeowners anticipate their financial obligations and plan accordingly.
Average Hooper Tax Bill
$1,703
Average Cuming County Tax Bill
$1,766
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hooper, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68031 | $1,703 | $1,703 | $1,703 | $1,703 | $1,703 |
Source: Ownwell