Overton, Phelps County, Nebraska Property Taxes

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

Median Overton, NE effective property tax rate: 1.21%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Overton, NE home value: $351,729
Median annual Overton, NE tax bill: $4,831, $2,431 higher than the national median property tax bill of $2,400.

How are property taxes in Phelps County calculated?

Property taxes in Overton, 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 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 March 1, 2025

Overton, Phelps County, Nebraska Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.21%

Estimate Property Tax Bill

$4,256

$3,949

Ownwell’s Overton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Overton with just two data points. By entering your property's estimated assessed value, our calculator applies Overton’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 Overton, Phelps County, Nebraska

Local government entities determine property tax rates, which often vary significantly within a state. This is because each county annually estimates the budget needed to provide essential services and divides this by the total value of all taxable property within its borders, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this calculation is the core of the annual process. In Overton, located in Phelps County, NE, the effective property tax rate aligns with the county's median rate of 1.21%. This rate is notably higher than the national median property tax rate of 1.02%. When comparing Overton's rate to the broader state and national figures, it becomes evident that property owners in this area face a relatively higher tax burden. Understanding these differences is crucial for property owners seeking to manage their tax liabilities effectively.

Property Tax Rates Across Overton, 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 Overton Tax Rate

1.21%

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 Overton, Phelps County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
68863	0.93%	1.20%	1.21%	1.22%	1.23%

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's Office 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: 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 Overton. For example, the median home price in Overton is $351,729, with tax bills ranging significantly across the county. 68863 has the highest median home price at $351,729.

Property Tax Assessment Values Across Overton, Phelps County, Nebraska

Source: Ownwell

$35,475

$193,602

$351,729

Median Overton Market Value

$351,729

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 Overton, Phelps County, Nebraska

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
68863	$92,655	$225,512	$351,729	$790,775	$1,051,937

Source: Ownwell

Property Tax Bills Across Overton, Phelps County, Nebraska

In Overton, Nebraska, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Overton can expect a median property tax bill of $4,831, which is significantly higher than the national median of $2,400. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. For those in the 25th percentile, property tax bills are around $2,305, while those in the 75th percentile can see bills as high as $8,831.

Navigating property taxes can be daunting, but Ownwell can help homeowners in Overton save on their property tax bills. By providing expert property tax appeal and exemption services, Ownwell can assist in ensuring that homeowners are not overpaying. With a dedicated team of professionals, homeowners can achieve a fair assessment and potentially lower their tax obligations.

Property Tax Bills Across Overton, Phelps County, Nebraska

Source: Ownwell

$414

$2,623

$4,831

Median Overton Tax Bill

$4,831

Median Phelps County Tax Bill

$1,908

Median Nebraska Tax Bill

$3,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Overton, Phelps County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
68863	$1,120	$2,305	$4,831	$8,831	$11,726

Source: Ownwell