NEBRASKA- America’s homebuyers have had an extraordinarily difficult few years. A combination of surging demand and scarce inventory has led to fierce competition among buyers, driving home prices to record levels. On top of this, high interest rates have increased borrowing costs, creating another major hurdle for aspiring homeowners. Another factor is property taxes. Typically calculated as a percentage of a home’s assessed value, property taxes have become an increasing burden as property values continue to outpace inflation.

At the state level, the Northeast and Midwest lead with the highest effective property tax rates for owner-occupied homes. Here is a summary of the data for Nebraska:

Effective property tax rate for owner-occupied homes: 1.435%
Median property taxes paid for owner-occupied homes: $3,523
Median owner-occupied home value: $245,200
Median owner-occupied household income: $94,687

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