Hubbell, Nebraska Property Taxes
The median property tax rate in Hubbell, Nebraska is 1.46%, 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 $42,273 in Hubbell, the typical annual property tax bill amounts to $646, falling below the national median of $2,690. Property taxes in Hubbell are calculated based on the tax assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Hubbell's property tax system, exploring available exemptions, and seeking opportunities for reductions can result in notable annual savings. Whether you reside in the heart of Hubbell or another part of Thayer County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Hubbell, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$617
-$6,468
Ownwell’s Hubbell Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hubbell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hubbell to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by Thayer County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hubbell, Nebraska
Property taxes in Hubbell, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hubbell is 1.46%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Hubbell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hubbell 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 Hubbell's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68375 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Hubbell provides valuable insights into the varying tax landscape across Thayer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hubbell Tax Rate
1.46%
Average Thayer County Tax Rate
1.32%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hubbell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68375 | 0.94% | 0.94% | 1.46% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Hubbell, Nebraska
In Hubbell, 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 Thayer 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. 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. In Hubbell, the median home price is $42,273, with tax bills ranging from $154 at the 25th percentile to $7,624 at the 90th percentile. The zip code 68375 has the highest median tax bill of $646. 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 Hubbell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hubbell Assessed Value
$42,273
Average Thayer County Assessed Value
$73,318
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hubbell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68375 | $6,542 | $13,260 | $42,273 | $204,928 | $775,546 |
Source: Ownwell
Property Tax Bills Across Hubbell, Nebraska
In Hubbell, located in Thayer County, NE, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value typically reflects a percentage of the property's market value. For instance, with a median home price of $42,273, the property tax rate in Hubbell influences the final tax bill homeowners receive. Several factors contribute to the overall tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. The tax bill can vary significantly, as evidenced by the 25th percentile tax bill of $154 and the 90th percentile tax bill of $7,624. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community. Homeowners in Hubbell need to be aware of how these factors affect their tax obligations, ensuring they are prepared for their annual property tax bills. Comparing Hubbell's property tax rate to the national median of 0.99% provides a useful benchmark for understanding local tax burdens.
Average Hubbell Tax Bill
$646
Average Thayer County Tax Bill
$919
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Hubbell, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68375 | $67 | $154 | $646 | $1,955 | $7,624 |
Source: Ownwell