Rate Breakdown

Property taxes in Colfax County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Colfax County

In Colfax County, property taxes are levied based on the assessed value of your real estate. The Colfax County Assessor determines this value annually, aiming for 100% of actual market value for residential and commercial properties, and 69% to 75% for agricultural land. Once assessments are finalized, local taxing entities—including school districts, cities, and the county board—establish their annual budgets and set millage rates. Your overall tax rate is the cumulative total of these individual rates, represented as a dollar amount per $100 of assessed property value. This rate is applied directly to your property's valuation to calculate your annual tax bill.

Available Exemptions

Nebraska provides several property tax relief programs to reduce the financial burden on eligible homeowners. In Colfax County, you may qualify for the following exemptions and credits:

• Homestead Exemption: Available to low-income seniors (age 65 and older), individuals with specific physical disabilities, and qualified disabled veterans or their unmarried surviving spouses. This program can exempt all or a portion of your home's assessed value from property taxes.
• Disabled Veterans Exemption: Specially adapted housing exemptions may be available for veterans with service-connected, total disabilities.
• Property Tax Incentive Act: Nebraska taxpayers can claim a state income tax credit for a portion of the school district and community college property taxes paid during the year.

Payment Schedule & Deadlines

Property taxes in Colfax County are billed annually and technically become due on December 31 of the tax year. However, payments are split into two convenient installments before they are considered delinquent:

• First Installment: Must be paid by May 1 of the following year.
• Second Installment: Must be paid by September 1 of the following year.
• Late Consequences: Payments received after these deadlines are subject to a statutory interest penalty of 14% per annum. Unpaid taxes can eventually lead to a tax sale certificate being issued against the property, risking foreclosure.

Appealing Your Assessment

If you believe your property's assessed value is inaccurate or does not reflect fair market value, you have the right to appeal. The appeal process in Colfax County follows these steps:

• Informal Review: Contact the Colfax County Assessor's office early in the year to discuss your valuation and review your property record card for errors.
• Formal Protest: If unresolved, file a formal written protest (Form 422) with the Colfax County Board of Equalization. This protest must be filed between June 1 and June 30.
• State Appeal: If you disagree with the Board's decision, you can appeal further to the Nebraska Tax Equalization and Review Commission (TERC) by August 24.