Hubbard, Nebraska Property Taxes
The median property tax rate in Hubbard, Nebraska is 1.20%, which is higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Hubbard, the typical annual property tax bill reaches $2,300, slightly below the national median of $2,690. Property taxes in Hubbard 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 Hubbard'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 Hubbard 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
Hubbard, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,279
$2,115
Ownwell’s Hubbard Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hubbard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hubbard 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 Hubbard, Nebraska
Property taxes in Hubbard, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hubbard stands at 1.40%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Hubbard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hubbard 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 Hubbard's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68741 zip code has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Hubbard provides valuable insights into the varying tax landscape across Dakota County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hubbard Tax Rate
1.20%
Average Dakota County Tax Rate
1.91%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hubbard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68741 | 1.13% | 1.15% | 1.20% | 1.23% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Hubbard, Nebraska
In Hubbard, 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 Dakota County Assessor's Office 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 Hubbard, 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 Hubbard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hubbard is $189,902, with the median tax bill ranging from $1,308 at the 25th percentile to $3,506 at the 75th percentile, and up to $4,975 at the 90th percentile.
Average Hubbard Assessed Value
$189,902
Average Dakota County Assessed Value
$134,320
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hubbard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68741 | $57,768 | $101,541 | $189,902 | $294,440 | $423,263 |
Source: Ownwell
Property Tax Bills Across Hubbard, Nebraska
In Hubbard, located in Dakota County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Hubbard is $189,902. Homeowners can expect their tax bills to vary significantly, depending on several factors. For instance, the 25th percentile tax bill stands at $1,308, while the 75th percentile reaches $3,506, and the 90th percentile peaks at $4,975. These variations are influenced by the assessed value of the property, which may differ from the market value, and the specific tax rates imposed by local taxing authorities. The highest and lowest median tax bills in Hubbard are both $2,300, indicating a consistent rate within the zip code 68741. Compared to the national median property tax rate of 0.99%, Hubbard's rates reflect the local economic conditions and funding needs for public services. This directly impacts homeowners, as higher property taxes can increase the overall cost of homeownership, while lower taxes may make the area more attractive to potential buyers.
Average Hubbard Tax Bill
$2,300
Average Dakota County Tax Bill
$2,267
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hubbard, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68741 | $612 | $1,308 | $2,300 | $3,506 | $4,975 |
Source: Ownwell