Hastings, Nebraska Property Taxes
The median property tax rate in Hastings, NE is 1.29%, 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 Hastings at $202,545, the typical annual property tax bill reaches $1,808, which is below the national median of $2,690. Property taxes in Hastings 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 Hastings' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hastings 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
Hastings, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$2,613
-$27,382
Ownwell’s Hastings Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hastings with just two data points. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Hastings to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Hall County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Hastings, Nebraska
Property taxes in Hastings, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hastings is 1.29%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hastings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hastings 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 Hastings' effective property tax rate to other areas in Hall County and the national median. For comparison, the zip code 68901 has both the highest and lowest median property tax rate of 1.21%. Understanding how these areas compare with Hastings provides valuable insights into the varying tax landscape across Hall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hastings Tax Rate
1.29%
Average Hall County Tax Rate
1.65%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hastings, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68901 | 0.55% | 0.89% | 1.21% | 1.39% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Hastings, Nebraska
In Hastings, 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 Hall 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 Hastings, 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 Hastings helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hastings are found in the 68901 zip code, both at $1,291.
Average Hastings Assessed Value
$202,545
Average Hall County Assessed Value
$168,820
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hastings, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68901 | $50,338 | $135,564 | $203,889 | $229,168 | $248,066 |
Source: Ownwell
Property Tax Bills Across Hastings, Nebraska
In Hastings, located in Hall County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Several factors influence this assessment, including the property's size, location, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Hastings, the median home price is $202,545. The property tax rate in this area leads to varying tax bills. For example, the 25th percentile tax bill is $921, while the 75th percentile tax bill is $2,743, and the 90th percentile tax bill reaches up to $3,429. These figures highlight the range of property tax burdens that homeowners may face. Compared to the national median property tax rate of 0.99%, Hastings homeowners experience a diverse spectrum of property tax obligations, impacting their overall financial planning and homeownership costs.
Average Hastings Tax Bill
$1,808
Average Hall County Tax Bill
$2,705
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hastings, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68901 | $629 | $897 | $1,291 | $2,827 | $3,462 |
Source: Ownwell