Hampton, Nebraska Property Taxes
The median property tax rate in Hampton, NE is 1.56%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Hampton, the typical annual property tax bill reaches $2,007, exceeding the national median of $2,690. Property taxes in Hampton 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 Hampton'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 Hampton 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
Hampton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$2,336
Ownwell’s Hampton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hampton 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 Hampton, Nebraska
Property taxes in Hampton, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hampton is 1.56%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hampton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hampton 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 Hampton's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68843 has both the highest and lowest median property tax rate of 1.56%. Understanding how these areas compare with Hampton provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hampton Tax Rate
1.56%
Average Hamilton County Tax Rate
1.50%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hampton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68843 | 1.09% | 1.11% | 1.56% | 1.56% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Hampton, Nebraska
In Hampton, 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 Hamilton 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 Hampton, 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 Hampton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 68843, with a median bill of $2,007.
Average Hampton Assessed Value
$149,730
Average Hamilton County Assessed Value
$155,855
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hampton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68843 | $69,955 | $104,660 | $149,730 | $247,470 | $652,191 |
Source: Ownwell
Property Tax Bills Across Hampton, Nebraska
In Hampton, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Hamilton County, where Hampton is located, experience property tax bills that can vary significantly. For instance, the 25th percentile tax bill is around $1,478, while the 75th percentile tax bill reaches up to $3,104. The highest tax bills in the region can soar to $7,416 at the 90th percentile. The median home price in Hampton is $149,730, and the county's property tax rate is influenced by local government budgets, school funding, and public services. These factors collectively determine the tax rate applied to the assessed property value. Homeowners in this area may find their tax bills higher or lower depending on the assessed value of their property and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, Hampton's rates can seem quite variable, impacting homeowners' annual expenses significantly.
Average Hampton Tax Bill
$2,007
Average Hamilton County Tax Bill
$2,134
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hampton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68843 | $965 | $1,478 | $2,007 | $3,104 | $7,416 |
Source: Ownwell