68937 Property Tax Rate

Property owners in ZIP code 68937 (Elwood, Nebraska) pay a median of $2,632/year in property taxes on homes valued at $275,300. This translates to an effective tax rate of 0.96%, which is 27% below the Nebraska state average of 1.32%.

The monthly property tax burden for a median-valued home in 68937 is approximately $219, which factors into escrow payments on mortgages. This ZIP code is located within Gosper County. This is $349 more than the Nebraska average of $2,283/year.

Compared to similar ZIP codes in Nebraska, 68937 has lower property taxes. ZIP codes with similar effective rates include 68658 (0.96%) and 68627 (0.96%).

In Elwood, property taxes represent approximately 3.4% of the median household income of $77,206, providing context for the relative tax burden on homeowners in this area.

Nebraska property is assessed at the county level, with reassessment occurring at sale or upon major improvements; obtain your assessment from the Gosper County Assessor. Homeowners 65 and older or with total disability qualify for Nebraska's Homestead Exemption, exempting a portion of assessed value from taxation — file your application with the Gosper County Assessor to reduce your annual tax burden. Submit your Homestead Exemption claim to the Gosper County Assessor as soon as possible after purchase to ensure the exemption takes effect on your first tax bill.