Property Taxes in Overton, Nebraska
Median Overton, Nebraska effective property tax rate: 0.75%, significantly lower than the national median of 1.02%, and lower than the Nebraska state median of 1.39%.
Median Overton, Nebraska home value: $361,559
Median annual Overton, Nebraska tax bill: $2,695, $295 higher than the national median property tax bill of $2,400.
How are property taxes in Phelps calculated?
Property taxes in Overton, Nebraska 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 Overton's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Overton, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Overton Property Tax Calculator Work?
Use this Overton property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Overton's median effective tax rate of 0.75% — based on actual property records in Phelps County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Overton's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Overton: rates range from 0.75% in 68863 to 0.75% in 68863, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Overton.
About Overton Property Taxes
About Property Taxes in OVERTON, Phelps, Nebraska
OVERTON’s median effective property tax rate of 0.75% is lower than the Nebraska state median of 1.39% and lower than the national median of 1.02%. This rate reflects the Phelps County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across OVERTON. Homeowners in the 68863 ZIP code carry a median effective rate of 0.75%, while those in the same ZIP code pay 0.75%. This spread reflects how school district boundaries and local assessment districts are drawn across Phelps County. Understanding which part of OVERTON you live in can make a meaningful difference to your annual tax bill.
OVERTON homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 30, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Overton, Phelps County, Nebraska
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? 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.
Below, you can compare Overton'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 Overton Tax Rate
0.75%
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
1.16%
Median Effective Nebraska Tax Rate
1.39%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Overton, Phelps County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68863 | 0.58% | 0.75% | 0.75% | 0.76% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Overton, Phelps County, Nebraska
When examining property taxes in Overton, 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 June each year. They'll typically reach your mailbox by the middle of June.
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. For example, the median home price in Overton is $361,559, with tax bills ranging significantly across the county. 68863 has the highest median home price at $361,559.
Property Tax Assessment Values Across Overton, Phelps County, Nebraska
Source: Ownwell
$38,035
$264,088
$490,141
Median Overton Market Value
$361,559
Median Phelps County Market Value
$148,720
Median Nebraska Market Value
$199,100
Median United States Market Value
$274,101
Property Tax Assessment Values Across Overton, Phelps County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68863 | $110,531 | $224,277 | $361,559 | $821,236 | $1,213,911 |
Source: Ownwell
Property Tax Bills Across Overton, Phelps County, Nebraska
Overton property tax bills are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. The assessed value is influenced by the home’s location, size, condition, and any improvements that may raise its worth. For homeowners in Phelps County, this means a higher market value can lead to a larger tax bill, while a lower assessment can reduce what is owed.
The median home price in Overton is $361,559, and the median property tax bill is $2,695, which is slightly above the national median property tax bill of $2,400. Tax bills can vary widely, with the 25th percentile at $1,431 and the 75th percentile at $6,180, showing how different property values and assessments affect what homeowners pay. At the 90th percentile, bills reach $8,861, which can create a significant cost burden for some homeowners.
Median Overton Tax Bill
$2,695
Median Phelps County Tax Bill
$1,620
Median Nebraska Tax Bill
$2,896
Median United States Tax Bill
$3,209
Property Tax Bills Across Overton, Phelps County, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68863 | $816 | $1,431 | $2,695 | $6,180 | $8,861 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 30 |
Links | |
|---|---|
| Phelps Tax Assessor | |
| Website | www.nebraskaassessorsonline.us |