68365 Property Tax Rate

Property owners in ZIP code 68365 (Grafton, Nebraska) pay a median of $1,403/year in property taxes on homes valued at $121,900. This translates to an effective tax rate of 1.15%, which is 13% below the Nebraska state average of 1.32%.

The monthly property tax burden for a median-valued home in 68365 is approximately $117, which factors into escrow payments on mortgages. This ZIP code is located within Fillmore County. This is $880 less than the Nebraska average of $2,283/year.

Compared to similar ZIP codes in Nebraska, 68365 has higher property taxes. ZIP codes with similar effective rates include 68826 (1.15%) and 68371 (1.15%).

In Grafton, property taxes represent approximately 1.8% of the median household income of $76,500, providing context for the relative tax burden on homeowners in this area.

Nebraska performs full reassessment to market value upon property transfer; there is no state cap limiting annual increases. Fillmore County provides a Homestead Exemption for owner-occupied primary residences — file your exemption claim with the Fillmore County Assessor immediately after purchase to reduce your assessed value. Request an assessment breakdown from the Fillmore County Assessor and note the appeal filing deadline, typically 30 days from the assessment notice.