Hickman, Nebraska Property Taxes
The median property tax rate in Hickman, Nebraska is 1.80%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Hickman at $284,800, the typical annual property tax bill reaches $4,829, exceeding the national median of $2,690. Property taxes in Hickman 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 Hickman'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 Hickman 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
Hickman, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$5,126
$4,757
Ownwell’s Hickman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hickman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hickman 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 Hickman, Nebraska
Property taxes in Hickman, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hickman is 1.80%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hickman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hickman 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 Hickman's effective property tax rate to other areas in Nebraska and the national median. For comparison, the zip code 68372 has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these areas compare with Hickman provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hickman Tax Rate
1.80%
Average Lancaster County Tax Rate
1.51%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hickman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68372 | 1.01% | 1.28% | 1.80% | 1.92% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Hickman, Nebraska
In Hickman, 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 Lancaster 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 Hickman, 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 Hickman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,829, and the lowest is also $4,829, both found in the 68372 zip code.
Average Hickman Assessed Value
$284,800
Average Lancaster County Assessed Value
$238,100
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hickman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68372 | $68,000 | $185,400 | $284,800 | $368,900 | $488,860 |
Source: Ownwell
Property Tax Bills Across Hickman, Nebraska
In Hickman, Lancaster County, NE, property tax bills are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by county assessors. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Hickman face varying tax bills, with the 25th percentile tax bill at $3,001 and the 75th percentile reaching $6,203. For those in the 90th percentile, tax bills can be as high as $7,272. The median property tax rate in Hickman is notably higher than the national median of 0.99%, reflecting the region's property values and local tax policies. This can significantly impact homeowners, influencing their overall cost of living and potentially affecting property resale values. The highest and lowest median tax bills in the area are both recorded at $4,829 in the zip code 68372.
Average Hickman Tax Bill
$4,829
Average Lancaster County Tax Bill
$3,561
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hickman, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68372 | $1,038 | $3,001 | $4,829 | $6,203 | $7,272 |
Source: Ownwell