Polk, Hamilton County, Nebraska Property Taxes

Name: Property Tax Bills Across Polk, Hamilton County, Nebraska
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Polk, NE effective property tax rate: 0.86%, significantly lower than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Polk, NE home value: $265,202
Median annual Polk, NE tax bill: $2,755, $355 higher than the national median property tax bill of $2,400.

How are property taxes in Hamilton calculated?

Property taxes in Polk, NE are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Polk’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Polk, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Polk, Hamilton County, Nebraska Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.51%

Estimate Property Tax Bill

$1,652

$1,533

Ownwell’s Polk Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Polk with just two data points. By entering your property's estimated assessed value, our calculator applies Polk’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Hamilton. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Polk, Hamilton County, Nebraska

Local government entities set tax rates, which can vary widely within a state. This is because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Polk’s effective property tax rate to other cities in Nebraska and the median property tax rates in Nebraska and the U.S. Nebraska has a median property tax rate of 0.86%, which is below the national median of 1.02%. This means that property owners in Polk, located in Hamilton County, generally enjoy lower property tax rates compared to the national average. However, it's important to consider that property tax rates can vary even within Nebraska itself due to the differing budgets and property values across counties. Understanding these nuances can help property owners make informed decisions about their investments and financial planning.

Property Tax Rates Across Polk, Hamilton County, Nebraska

Source: Ownwell

0.51%

0.79%

1.08%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Polk Tax Rate

0.51%

Median Effective Hamilton County Tax Rate

1.03%

Median Effective Nebraska Tax Rate

1.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Polk, Hamilton County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
68654	0.50%	0.50%	0.51%	0.51%	0.51%

Source: Ownwell

Property Tax Assessment Values Across Polk, Hamilton County, Nebraska

When examining property taxes in Polk, Nebraska, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Hamilton County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Hamilton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Polk. For example, the median home price in Polk is $265,202, with tax bills ranging significantly across the county. Zip code 68654 has the highest median home price at $265,202.

Property Tax Assessment Values Across Polk, Hamilton County, Nebraska

Source: Ownwell

$137,985

$230,985

$323,985

Median Polk Market Value

$323,985

Median Hamilton County Market Value

$178,260

Median Nebraska Market Value

$199,100

Median United States Market Value

$235,294

Property Tax Assessment Values Across Polk, Hamilton County, Nebraska

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
68654	$212,736	$229,412	$323,985	$1,119,944	$1,421,970

Source: Ownwell

Property Tax Bills Across Polk, Hamilton County, Nebraska

In Polk, located within Hamilton County, NE, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The local tax rate is then applied to this assessed value to determine the property tax bill. Homeowners in Polk face a median property tax rate that is slightly above the national median of 1.02%, resulting in tax bills that can vary significantly. For instance, the 25th percentile tax bill is $1,714, while the 75th percentile reaches $7,392, and the 90th percentile climbs to $9,755. These figures highlight the potential financial impact on homeowners, especially when compared to the national median property tax bill of $2,400. Ownwell offers a valuable service for homeowners by reviewing property assessments and identifying opportunities for appeals or exemptions. By leveraging their expertise, homeowners can potentially lower their tax bills, ensuring they only pay their fair share. This service can be particularly beneficial in areas like Polk, where tax bills can be notably high.

Property Tax Bills Across Polk, Hamilton County, Nebraska

Source: Ownwell

$922

$1,516

$2,109

Median Polk Tax Bill

$1,704

Median Hamilton County Tax Bill

$1,628

Median Nebraska Tax Bill

$2,896

Median United States Tax Bill

$2,400

Property Tax Bills Across Polk, Hamilton County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
68654	$1,102	$1,260	$1,704	$5,658	$7,172

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	June 30

Links
Hamilton Tax Assessor
Website	hamilton.gworks.com