Hallam, Lancaster County, Nebraska Property Taxes
Median Hallam, NE effective property tax rate: 1.64%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%. Median Hallam, NE home value: $240,400. Median annual Hallam, NE tax bill: $4,283, $1,883 higher than the national median property tax bill of $2,400.
How are property taxes in Lancaster calculated?
Property taxes in Hallam, 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 Hallam’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hallam, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hallam, Lancaster County, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.64%
Estimate Property Tax Bill
$3,943
$3,659
Property Tax Rates Across Hallam, Lancaster County, Nebraska
Local government entities set property tax rates, which can vary widely within Nebraska. 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.
In Hallam, located in Lancaster County, property tax rates are a reflection of this process. Hallam's effective property tax rate stands at 1.64%, which is notably higher than the national median of 1.02%. This indicates that property owners in Hallam might find themselves paying a higher percentage of their property's assessed value in taxes compared to the national average. Interestingly, this rate is consistent across Lancaster County, with no significant variation between different areas.
While Hallam's rate is higher than the national median, it aligns with the state's average, showcasing Nebraska's tendency towards higher property tax rates. Understanding these rates is crucial for property owners as they navigate their financial responsibilities and explore potential savings through tax appeals and exemptions.
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 Hallam Tax Rate
1.64%
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 Lancaster County Tax Rate
1.51%
Median Effective Nebraska Tax Rate
1.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hallam, Lancaster County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68368 | 1.12% | 1.28% | 1.64% | 1.77% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Hallam, Lancaster County, Nebraska
When examining property taxes in Hallam, 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 Lancaster County Assessor 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 Lancaster 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 Hallam.
For example, the median home price in Hallam is $240,400, with tax bills ranging significantly across the county. The zip code 68368 has the highest median home price at $240,400.
Property Tax Assessment Values Across Hallam, Lancaster County, Nebraska
Source: Ownwell
$160,450
$345,425
$530,400
Median Hallam Market Value
$240,400
Median Lancaster County Market Value
$238,100
Median Nebraska Market Value
$182,439
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hallam, Lancaster County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68368 | $24,000 | $42,000 | $240,400 | $306,500 | $371,120 |
Source: Ownwell
Property Tax Bills Across Hallam, Lancaster County, Nebraska
Median Hallam Tax Bill
$4,283
Median Lancaster County Tax Bill
$3,561
Median Nebraska Tax Bill
$3,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Hallam, Lancaster County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68368 | $856 | $2,944 | $4,283 | $5,313 | $5,908 |
Source: Ownwell