68862 Property Tax Rate

Property owners in ZIP code 68862 (Ord, Nebraska) pay a median of $1,991/year in property taxes on homes valued at $125,200. This translates to an effective tax rate of 1.59%, which is 21% above the Nebraska state average of 1.32%.

The monthly property tax burden for a median-valued home in 68862 is approximately $166, which factors into escrow payments on mortgages. This ZIP code is located within Valley County. This is $292 less than the Nebraska average of $2,283/year.

Compared to similar ZIP codes in Nebraska, 68862 has higher property taxes. ZIP codes with similar effective rates include 68112 (1.59%) and 69355 (1.59%).

In Ord, property taxes represent approximately 3.5% of the median household income of $57,303, 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. Valley County provides a Homestead Exemption for qualifying primary-residence owners that lowers assessed valuation — contact the Valley County Assessor immediately after closing to apply for this exemption. File your application with the Valley County Assessor before the annual deadline and request an assessment review to ensure accuracy given the county's higher-than-average effective rate.