Thurston, Nebraska Property Taxes
The median property tax rate in Thurston, NE is 1.36%, noticeably higher than the national median of 0.99% but lower than Nebraska's state median of 1.75%. With a median home value of $114,290 in Thurston, the typical annual property tax bill amounts to $1,658, which is below the national median of $2,690. Property taxes in Thurston are determined based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Navigating Thurston's property tax system, leveraging available exemptions, and seeking opportunities for reductions can result in substantial yearly savings. Whether you reside in Thurston or another area within the county, gaining a comprehensive understanding of the local property tax landscape is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Thurston, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$1,554
$1,442
Ownwell’s Thurston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thurston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thurston 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 Thurston, Nebraska
Property taxes in Thurston, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thurston is 1.36%, significantly higher than the U.S. national median of 0.99%. Local government entities within Thurston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thurston 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 Thurston's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68062 zip code has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Thurston provides valuable insights into the varying tax landscape across Thurston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thurston Tax Rate
1.36%
Average Thurston County Tax Rate
1.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thurston, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68062 | 1.30% | 1.32% | 1.36% | 1.81% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Thurston, Nebraska
In Thurston, 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 Thurston 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 Thurston, 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. The highest median tax bill in Thurston is $1,658 in zip code 68062. Being aware of these valuation processes in Thurston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thurston Assessed Value
$114,290
Average Thurston County Assessed Value
$86,240
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thurston, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68062 | $19,726 | $33,152 | $114,290 | $255,695 | $586,761 |
Source: Ownwell
Property Tax Bills Across Thurston, Nebraska
In Thurston, NE, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The median home price in Thurston is $114,290, which gives a foundation for calculating property taxes. The tax rate is applied to the assessed value of the property to determine the annual tax bill. For example, homeowners in the 25th percentile pay around $589 annually, while those in the 75th percentile face a tax bill of approximately $3,432. At the 90th percentile, the tax bill can reach up to $8,051. Several factors influence the assessed value, including property size, location, and market conditions. These assessments ensure that homeowners contribute fairly to local services such as schools, infrastructure, and public safety. Compared to the national median property tax rate of 0.99%, Thurston's property taxes can vary significantly, impacting homeowners differently based on their property's assessed value. This variability underscores the importance of understanding property tax assessments and their implications for household budgets.
Average Thurston Tax Bill
$1,658
Average Thurston County Tax Bill
$1,554
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Thurston, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68062 | $311 | $589 | $1,658 | $3,432 | $8,051 |
Source: Ownwell