Elm Creek, Phelps County, Nebraska Property Taxes
Median Elm Creek, NE effective property tax rate: 1.31%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Elm Creek, NE home value: $345,947
Median annual Elm Creek, NE tax bill: $4,541, $2,141 higher than the national median property tax bill of $2,400.
How are property taxes in Phelps County calculated?
Property taxes in Elm Creek, 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 Elm Creek’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Elm Creek, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Elm Creek, Phelps County, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.31%
Estimate Property Tax Bill
$4,532
$4,205
Property Tax Rates Across Elm Creek, Phelps 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.
Elm Creek in Phelps County, Nebraska, has an effective property tax rate of 1.31%. This rate is notably higher than the national median property tax rate of 1.02%. Property owners in Elm Creek might find their tax bills to be more substantial than the national median property tax bill of $2,400. The rate in Elm Creek is consistent across the county, reflecting a uniformity in how property taxes are assessed. Understanding these rates can help property owners anticipate their tax liabilities and explore potential savings through appeals or exemptions. By comparing Elm Creek’s rates to other regions, property owners can better understand the local tax landscape and make informed decisions about their property investments.
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 Elm Creek Tax Rate
1.31%
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 Phelps County Tax Rate
1.69%
Median Effective Nebraska Tax Rate
1.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Elm Creek, Phelps County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68836 | 1.19% | 1.28% | 1.31% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Elm Creek, Phelps County, Nebraska
When examining property taxes in Elm Creek, 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 Phelps 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 Phelps 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 Elm Creek. For example, the median home price in Elm Creek is $345,947, with tax bills ranging significantly across the county. Zip code 68836 has the highest median home price at $345,947.
Property Tax Assessment Values Across Elm Creek, Phelps County, Nebraska
Source: Ownwell
$35,475
$193,602
$351,729
Median Elm Creek Market Value
$345,947
Median Phelps County Market Value
$118,096
Median Nebraska Market Value
$182,439
Median United States Market Value
$235,294
Property Tax Assessment Values Across Elm Creek, Phelps County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68836 | $135,560 | $186,399 | $345,947 | $630,084 | $976,486 |
Source: Ownwell
Property Tax Bills Across Elm Creek, Phelps County, Nebraska
In Elm Creek, located in Phelps County, NE, property tax bills are determined by assessing the property's market value and applying the local tax rate. The assessed value is a percentage of the market value, which serves as the basis for calculating property taxes. Various factors, such as property size, location, and improvements, influence the assessed value. Homeowners in Elm Creek face a median property tax bill of $4,541, significantly above the national median of $2,400. This can be a substantial financial burden, especially when compared to the national median property tax rate of 1.02%.
Ownwell provides valuable assistance to homeowners in Elm Creek by offering property tax appeal and exemption services, potentially lowering tax bills. Our experts analyze your property's assessment, ensuring it reflects an accurate market value. By identifying discrepancies or qualifying exemptions, we help reduce your tax liability. Trust Ownwell to guide you through the appeal process, ensuring you pay only your fair share.
Median Elm Creek Tax Bill
$4,541
Median Phelps County Tax Bill
$1,908
Median Nebraska Tax Bill
$3,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Elm Creek, Phelps County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68836 | $1,668 | $2,331 | $4,541 | $8,172 | $12,809 |
Source: Ownwell