69150 Property Tax Rate

Property owners in ZIP code 69150 (Madrid, Nebraska) pay a median of $1,316/year in property taxes on homes valued at $177,000. This translates to an effective tax rate of 0.74%, which is 44% below the Nebraska state average of 1.32%.

The monthly property tax burden for a median-valued home in 69150 is approximately $110, which factors into escrow payments on mortgages. This ZIP code is located within Perkins County. This is $967 less than the Nebraska average of $2,283/year.

Compared to similar ZIP codes in Nebraska, 69150 has lower property taxes. ZIP codes with similar effective rates include 68622 (0.75%) and 68856 (0.75%).

In Madrid, property taxes represent approximately 1.5% of the median household income of $85,521, providing context for the relative tax burden on homeowners in this area.

Nebraska has no annual assessment cap; properties are reassessed each year by the Perkins County Assessor at fair market value, which could increase your tax liability over time. Apply for the Homestead Exemption with the Perkins County Assessor if you occupy the property as your primary residence—this exemption lowers your assessed value and annual taxes. File your exemption application within 30 days of purchase to ensure it takes effect on your first tax notice.