Kearney, Phelps County, Nebraska Property Taxes

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

Median Kearney, NE effective property tax rate: 1.48%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Kearney, NE home value: $285,027
Median annual Kearney, NE tax bill: $4,205, $1,805 higher than the national median property tax bill of $2,400.

How are property taxes in Phelps County calculated?

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

Last Updated March 1, 2025

Kearney, Phelps County, Nebraska Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.48%

Estimate Property Tax Bill

$4,218

$3,915

Ownwell’s Kearney Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kearney with just two data points. By entering your property's estimated assessed value, our calculator applies Kearney’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 Phelps County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Kearney, Phelps County, Nebraska

Local government entities determine tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates its required budget to provide services, dividing that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Despite the involvement of votes and laws in setting tax rates and budgets, this is essentially the annual process.

In Kearney, located in Phelps County, Nebraska, the effective property tax rate stands at 1.48%. This rate is notably higher than the national median property tax rate of 1.02%. While Kearney's rate aligns with the highest and lowest rates within its zip code, it surpasses the state median, reflecting the city's unique budgetary needs and property values.

These figures highlight the importance of understanding local tax rates, as they can significantly impact property owners. Comparing Kearney's rate to the national median emphasizes the importance of property tax consulting services to potentially reduce tax burdens.

Property Tax Rates Across Kearney, Phelps County, Nebraska

Source: Ownwell

1.05%

1.59%

2.14%

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 Kearney Tax Rate

1.48%

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 Kearney, Phelps County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
68845	1.41%	1.47%	1.48%	1.48%	1.48%

Source: Ownwell

Property Tax Assessment Values Across Kearney, Phelps County, Nebraska

When examining property taxes in Kearney, 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.

Assessment notices:

In Phelps County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May.

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 Kearney.

For example, the median home price in Kearney is $285,027, with tax bills ranging significantly across the county. 68845 has the highest median home price at $285,027.

Property Tax Assessment Values Across Kearney, Phelps County, Nebraska

Source: Ownwell

$35,475

$193,602

$351,729

Median Kearney Market Value

$285,027

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 Kearney, Phelps County, Nebraska

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
68845	$157,284	$237,735	$285,027	$362,280	$1,626,681

Source: Ownwell

Property Tax Bills Across Kearney, Phelps County, Nebraska

In Kearney, Nebraska, property tax bills are determined by multiplying the assessed value of a home by the local property tax rate. The assessed value is typically a percentage of the property's market value, which is influenced by factors such as location, size, and condition of the home. Homeowners in Kearney face a range of tax bills, with the 25th percentile at $3,432 and the 75th percentile at $5,344, significantly higher than the national median property tax bill of $2,400. The highest median tax bill in the area is $4,205, found in the zip code 68845. These figures highlight the substantial impact property taxes can have on homeowners' finances. Ownwell offers valuable assistance by helping homeowners navigate the complexities of property tax appeals and exemptions. By identifying potential inaccuracies in assessed values or missed exemptions, Ownwell can help reduce property tax bills, providing significant savings and easing the financial burden on homeowners in Kearney.

Property Tax Bills Across Kearney, Phelps County, Nebraska

Source: Ownwell

$414

$2,623

$4,831

Median Kearney Tax Bill

$4,205

Median Phelps County Tax Bill

$1,908

Median Nebraska Tax Bill

$3,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Kearney, Phelps County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
68845	$2,322	$3,432	$4,205	$5,344	$22,023

Source: Ownwell