Bancroft, Thurston County, Nebraska Property Taxes

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

Median Bancroft, NE effective property tax rate: 1.29%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Bancroft, NE home value: $398,258
Median annual Bancroft, NE tax bill: $5,116, $2,716 higher than the national median property tax bill of $2,400.

How are property taxes in Thurston calculated?

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

Last Updated March 1, 2025

Bancroft, Thurston County, Nebraska Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.29%

Estimate Property Tax Bill

$5,138

$4,767

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

Property Tax Rates Across Bancroft, Thurston County, Nebraska

Local government entities are responsible for setting tax rates, leading to significant variations within a state. Each year, counties estimate their necessary budget to fund services and divide this by the total assessed value of all taxable property within their jurisdiction. This process determines the property tax rate. Although voting and legislation play roles in setting these rates and budgets, this is essentially the yearly procedure. In Bancroft, located in Thurston County, Nebraska, the effective property tax rate can be compared to other cities within the state, as well as to Nebraska's median property tax rate of 1.29%. When compared nationally, Bancroft's property tax rate may seem higher, with the U.S. median rate at 1.02%. This comparison can help property owners understand their tax obligations in relation to both local and national standards. Understanding these differences is crucial for homeowners looking to manage their property tax expenses effectively.

Property Tax Rates Across Bancroft, Thurston County, Nebraska

Source: Ownwell

1.36%

2.25%

3.13%

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 Bancroft Tax Rate

1.29%

Median Effective Thurston County Tax Rate

1.87%

Median Effective Nebraska Tax Rate

1.75%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bancroft, Thurston County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
68004	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Bancroft, Thurston County, Nebraska

When examining property taxes in Bancroft, 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 Thurston 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. In Thurston 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 Bancroft. For example, the median home price in Bancroft is $398,258, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Bancroft, Thurston County, Nebraska

Source: Ownwell

$20,558

$73,852

$127,145

Median Bancroft Market Value

$398,258

Median Thurston County Market Value

$86,240

Median Nebraska Market Value

$182,439

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bancroft, Thurston County, Nebraska

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
68004	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Bancroft, Thurston County, Nebraska

In Bancroft, located in Thurston County, NE, property tax bills are determined by the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Homeowners in Bancroft face a range of tax bills, with the 25th percentile at $1,087 and the 75th percentile reaching $7,288. This variation is influenced by factors such as property size, location, and local levies. Compared to the national median property tax bill of $2,400, Bancroft's tax bills can be significantly higher, especially for properties in the upper percentiles.

High property taxes can strain homeowners, making it crucial to ensure that assessments are accurate. This is where Ownwell steps in. By offering property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills. With expert analysis and guidance, Ownwell can identify discrepancies in assessments and navigate the appeal process, ultimately aiming to save homeowners money and alleviate financial burdens.

Property Tax Bills Across Bancroft, Thurston County, Nebraska

Source: Ownwell

$349

$1,395

$2,440

Median Bancroft Tax Bill

$5,116

Median Thurston County Tax Bill

$1,554

Median Nebraska Tax Bill

$3,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Bancroft, Thurston County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
68004	N/A	N/A	N/A	N/A	N/A

Source: Ownwell