68861 Property Tax Rate

Property owners in ZIP code 68861 (Odessa, Nebraska) pay a median of $1,969/year in property taxes on homes valued at $126,400. This translates to an effective tax rate of 1.56%, which is 18% above the Nebraska state average of 1.32%.

The monthly property tax burden for a median-valued home in 68861 is approximately $164, which factors into escrow payments on mortgages. This ZIP code is located within Buffalo County. This is $314 less than the Nebraska average of $2,283/year.

Compared to similar ZIP codes in Nebraska, 68861 has higher property taxes. ZIP codes with similar effective rates include 68382 (1.56%) and 68506 (1.56%).

In Odessa, property taxes represent approximately 5.3% of the median household income of $36,875, 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. Buffalo County provides a Homestead Exemption for qualifying owner-occupied primary residences that lowers your tax base — apply with the Buffalo County Assessor to claim this relief on your first tax bill. Contact the Buffalo County Assessor within 30 days of purchase to file for the exemption and verify your assessed value.