Holbrook, Nebraska Property Taxes
The median property tax rate in Holbrook, NE is 1.19%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $323,598 in Holbrook, the typical annual property tax bill reaches $3,889, significantly exceeding the national median of $2,690. Property taxes in Holbrook 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 Holbrook’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 Holbrook 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
Holbrook, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$3,851
Ownwell’s Holbrook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holbrook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holbrook 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 Holbrook, Nebraska
Property taxes in Holbrook, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holbrook is 1.19%, higher than the U.S. national median of 0.99%. Local government entities within Holbrook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holbrook 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 Holbrook's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68948 has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these areas compare with Holbrook provides valuable insights into the varying tax landscape across Gosper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holbrook Tax Rate
1.19%
Average Gosper County Tax Rate
1.11%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holbrook, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68948 | 1.19% | 1.19% | 1.19% | 1.20% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Holbrook, Nebraska
In Holbrook, 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 Gosper 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 Holbrook, 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. For example, the median home price in Holbrook is $323,598, with the 25th percentile tax bill at $2,655 and the 75th percentile tax bill at $6,646. The highest and lowest median tax bills are both $3,889 in the 68948 zip code. By understanding 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 Holbrook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holbrook Assessed Value
$323,598
Average Gosper County Assessed Value
$179,048
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holbrook, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68948 | $147,276 | $222,733 | $323,598 | $557,804 | $696,816 |
Source: Ownwell
Property Tax Bills Across Holbrook, Nebraska
In Holbrook, located in Gosper County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Various factors influence the assessed value, including the property's location, size, and condition. For instance, with a median home price of $323,598, homeowners in Holbrook can expect their tax bills to fall within a range, reflecting the assessed value and applicable tax rate. The 25th percentile tax bill is around $2,655, while the 75th percentile tax bill can reach up to $6,646. For those at the higher end, the 90th percentile tax bill is approximately $8,312. Compared to the national median property tax rate of 0.99%, Holbrook's tax rates can significantly impact homeowners' annual expenses. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Holbrook Tax Bill
$3,889
Average Gosper County Tax Bill
$2,112
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Holbrook, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68948 | $1,149 | $2,655 | $3,889 | $6,646 | $8,312 |
Source: Ownwell