68777 Property Tax Rate

Property owners in ZIP code 68777 (Spencer, Nebraska) pay a median of $1,508/year in property taxes on homes valued at $119,900. This translates to an effective tax rate of 1.26%, which is 5% below the Nebraska state average of 1.32%.

The monthly property tax burden for a median-valued home in 68777 is approximately $126, which factors into escrow payments on mortgages. This ZIP code is located within Boyd County. This is $775 less than the Nebraska average of $2,283/year.

Compared to similar ZIP codes in Nebraska, 68777 has lower property taxes. ZIP codes with similar effective rates include 69125 (1.26%) and 68787 (1.26%).

In Spencer, property taxes represent approximately 2.5% of the median household income of $59,938, providing context for the relative tax burden on homeowners in this area.

Nebraska reassesses all properties at market value at the time of purchase; there is no statewide cap on assessment increases for new owners. Boyd County provides a Homestead Exemption for qualifying owner-occupied primary residences that lowers your tax base — file with the Boyd County Assessor to claim this exemption. Submit your exemption application to the Boyd County Assessor before the county's deadline and request verification of your assessed value.