Holmesville, Nebraska Property Taxes
The median property tax rate in Holmesville, NE is 1.55%, considerably higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With the median home value in Holmesville at $105,310, the typical annual property tax bill reaches $1,200, which is below the national median of $2,690. Property taxes in Holmesville 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 Holmesville'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 Holmesville 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
Holmesville, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$1,632
Ownwell’s Holmesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holmesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holmesville 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 Holmesville, Nebraska
Property taxes in Holmesville, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holmesville is 1.55%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Holmesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holmesville 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 Holmesville's effective property tax rate to other areas in Nebraska and the national median. For comparison, the 68310 zip code has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these areas compare with Holmesville 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 Holmesville Tax Rate
1.55%
Average Gage County Tax Rate
1.83%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holmesville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68310 | 1.37% | 1.54% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Holmesville, Nebraska
In Holmesville, 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 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 Holmesville, 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. Holmesville's median home price is $105,310, with tax bills ranging from $339 at the 25th percentile to $7,092 at the 90th percentile. The zip code 68310 has the highest and lowest median tax bill at $1,200. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holmesville Assessed Value
$105,310
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 Holmesville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68310 | $14,995 | $30,360 | $105,310 | $254,460 | $492,090 |
Source: Ownwell
Property Tax Bills Across Holmesville, Nebraska
In Holmesville, Gage County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value of the property. Various factors, such as property size, location, and condition, influence this assessment. Once the assessed value is determined, the local tax rate is applied to calculate the tax bill. For homeowners in Holmesville, the impact of these property taxes can vary significantly. The 25th percentile tax bill is around $339, while the 75th percentile reaches $3,531, and the 90th percentile soars to $7,092. These figures highlight the range of tax burdens that homeowners may experience. With a median home price of $105,310, the property tax rate in Holmesville is relatively low compared to the national median property tax rate of 0.99%. This can make homeownership more affordable for residents, although the variability in tax bills means some homeowners may face higher costs.
Average Holmesville Tax Bill
$1,200
Average Gage County Tax Bill
$1,782
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Holmesville, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68310 | $146 | $339 | $1,200 | $3,531 | $7,092 |
Source: Ownwell