Humphrey, Madison County, Nebraska Property Taxes
Median Humphrey, NE effective property tax rate: 1.41%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Humphrey, NE home value: $438,847
Median annual Humphrey, NE tax bill: $6,167, $3,767 higher than the national median property tax bill of $2,400.
How are property taxes in Madison County calculated?
Property taxes in Humphrey, 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 Humphrey’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Humphrey, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Humphrey, Madison County, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.41%
Estimate Property Tax Bill
$6,188
$5,742
Ownwell’s Humphrey Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Humphrey with just two data points.
By entering your property's estimated assessed value, our calculator applies Humphrey’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 Madison.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Humphrey, Madison County, Nebraska
Local government entities set tax rates, which can vary widely within a state. 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 Humphrey’s effective property tax rate to other cities in Nebraska and the median property tax rates in Nebraska and the U.S.
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 Humphrey Tax Rate
1.41%
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 Madison County Tax Rate
1.88%
Median Effective Nebraska Tax Rate
1.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Humphrey, Madison County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68642 | 1.39% | 1.41% | 1.41% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Humphrey, Madison County, Nebraska
When examining property taxes in Humphrey, 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 Madison 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 Madison 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 Humphrey. For example, the median home price in Humphrey is $438,847, with tax bills ranging significantly across the county. Zip code 68642 has the highest median home price at $438,847.
Property Tax Assessment Values Across Humphrey, Madison County, Nebraska
Source: Ownwell
$71,396
$255,122
$438,847
Median Humphrey Market Value
$438,847
Median Madison County Market Value
$158,492
Median Nebraska Market Value
$182,439
Median United States Market Value
$235,294
Property Tax Assessment Values Across Humphrey, Madison County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68642 | $178,020 | $263,582 | $438,847 | $788,563 | $1,150,027 |
Source: Ownwell
Property Tax Bills Across Humphrey, Madison County, Nebraska
In Humphrey, located in Madison County, NE, property tax bills are determined by assessing a property's market value and applying the local tax rate. The assessed value is a critical factor, and any changes in the market can influence it significantly. Homeowners in Humphrey face property tax bills that can vary widely, with the 25th percentile at $3,716 and the 90th percentile reaching $14,890. This variation highlights the impact of property location and value on tax bills. The median home price in Humphrey is $438,847, and the local tax rate is applied to this value to calculate the bill, which can be higher than the national median property tax bill of $2,400.
Ownwell offers valuable assistance to homeowners in Humphrey by identifying potential savings on property tax bills. Our experts conduct thorough reviews of property assessments and ensure they are fair and accurate. By appealing incorrect assessments and securing exemptions, Ownwell helps homeowners reduce their tax burdens, potentially saving them thousands of dollars annually.
Median Humphrey Tax Bill
$6,167
Median Madison County Tax Bill
$2,934
Median Nebraska Tax Bill
$3,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Humphrey, Madison County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68642 | $2,534 | $3,716 | $6,167 | $10,285 | $14,890 |
Source: Ownwell