68651 Property Tax Rate

Property owners in ZIP code 68651 (Osceola, Nebraska) pay a median of $1,603/year in property taxes on homes valued at $183,200. This translates to an effective tax rate of 0.88%, which is 34% below the Nebraska state average of 1.32%.

The monthly property tax burden for a median-valued home in 68651 is approximately $134, which factors into escrow payments on mortgages. This ZIP code is located within Polk County. This is $680 less than the Nebraska average of $2,283/year.

Compared to similar ZIP codes in Nebraska, 68651 has lower property taxes. ZIP codes with similar effective rates include 68928 (0.88%) and 68431 (0.88%).

In Osceola, property taxes represent approximately 2.0% of the median household income of $80,375, providing context for the relative tax burden on homeowners in this area.

Nebraska has no statewide property tax cap; your home will be reassessed at current market value when you buy, resetting the tax base. Polk County offers a Homestead Exemption for primary residences — submit your application to the Polk County Assessor within the statutory window to claim the exemption and lower your assessed value. Contact the Polk County Assessor to confirm the exemption amount and to verify it has been recorded on your property record.