Firth, Nebraska Property Taxes
The median property tax rate in Firth, NE is 1.62%, which is considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Firth, the typical annual property tax bill reaches $5,070, exceeding the national median of $2,690. Property taxes in Firth 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 Firth'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 Firth 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
Firth, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$5,316
Ownwell’s Firth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Firth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Firth 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 Firth, Nebraska
Property taxes in Firth, Nebraska, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Firth is 1.62%, significantly higher than both the Nebraska state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Firth set these rates annually, and they can vary across different neighborhoods. Each year, Firth 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 Firth's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68358 has the highest median property tax rate of 1.62%, while the same zip code also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Firth provides valuable insights into the varying tax landscape across Gage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Firth Tax Rate
1.62%
Average Gage County Tax Rate
1.83%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Firth, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68358 | 1.38% | 1.59% | 1.62% | 1.62% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Firth, Nebraska
In Firth, 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 Gage 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 Firth, 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 Firth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 68358 has the highest and lowest median tax bill, both at $5,070, reflecting a unique uniformity in the area.
Average Firth Assessed Value
$328,162
Average Gage County Assessed Value
$108,335
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Firth, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68358 | $162,080 | $229,819 | $328,162 | $394,200 | $456,300 |
Source: Ownwell
Property Tax Bills Across Firth, Nebraska
In Firth, 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 a percentage of the property's market value. For instance, homes in Firth have a median home price of $328,162. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax bill, including property characteristics, location, and any applicable exemptions. Homeowners in Firth can expect to pay a property tax bill that ranges significantly. For example, the 25th percentile tax bill is $3,494, while the 75th percentile tax bill reaches $6,330. At the higher end, the 90th percentile tax bill is $7,371. These taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how property taxes are calculated helps homeowners budget effectively and anticipate their financial obligations.
Average Firth Tax Bill
$5,070
Average Gage County Tax Bill
$1,782
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Firth, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68358 | $2,243 | $3,494 | $5,070 | $6,330 | $7,371 |
Source: Ownwell