Loomis, Phelps County, Nebraska Property Taxes
- Median Loomis, NE effective property tax rate: 1.33%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
- Median Loomis, NE home value: $133,142
- Median annual Loomis, NE tax bill: $1,713, $687 lower than the national median property tax bill of $2,400.
How are property taxes in Phelps calculated?
Property taxes in Loomis, 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 Loomis’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Loomis, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Loomis, Phelps County, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.33%
Estimate Property Tax Bill
$1,771
$1,643
Property Tax Rates Across Loomis, Phelps County, Nebraska
Local government entities set tax rates, which can vary widely within a state. This variation occurs 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.
Loomis in Phelps County, Nebraska, presents an interesting case with its property tax rate. The effective property tax rate in Loomis stands at 1.33%, which is notably higher than the national median of 1.02%. This indicates that property owners in Loomis might face a higher tax bill compared to other parts of the country. However, when compared to the state's median property tax rate, Loomis aligns perfectly, as the state median is also 1.33%. This suggests that Loomis is quite representative of Nebraska's overall property tax landscape. Understanding these nuances can help property owners in Loomis better navigate their property tax responsibilities and explore potential avenues for appeals or 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 Loomis Tax Rate
1.33%
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 Loomis, Phelps County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68958 | 0.94% | 0.96% | 1.33% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Loomis, Phelps County, Nebraska
When examining property taxes in Loomis, 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 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 Phelps County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Loomis. For example, the median home price in Loomis is $133,142, with tax bills ranging significantly across the county. Zip code 68958 has the highest median home price at $133,142.
Property Tax Assessment Values Across Loomis, Phelps County, Nebraska
Source: Ownwell
$35,475
$193,602
$351,729
Median Loomis Market Value
$133,142
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 Loomis, Phelps County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68958 | $37,070 | $76,465 | $133,142 | $240,378 | $718,200 |
Source: Ownwell
Property Tax Bills Across Loomis, Phelps County, Nebraska
Median Loomis Tax Bill
$1,713
Median Phelps County Tax Bill
$1,908
Median Nebraska Tax Bill
$3,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Loomis, Phelps County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68958 | $409 | $939 | $1,713 | $2,858 | $7,229 |
Source: Ownwell