Part 2 of Understanding the Tax Impact: How Much Is Property in Cass County Actually Worth?
- Cass County Facts
- Aug 6
- 4 min read
In Part 1 of this series, we explained how property taxes are calculated in Nebraska.
We learned that property taxes are determined through two separate processes:
The County Assessor determines the taxable value of property.
Local governments determine how much revenue they need and set tax levy rates.
Now let's look at the first part of that equation:
How much is property in Cass County actually worth?
Understanding today's property values provides important context before we begin discussing how a large industrial development could affect the county's overall tax base.
Not All Property Is Valued the Same
One of the biggest misconceptions about property taxes is that every type of property is valued the same way. In reality, Nebraska law treats different classes of property differently.
The primary categories include:
Residential property
Agricultural and horticultural land
Commercial property
Industrial property
Personal property (equipment, machinery, etc.)
Each category has its own valuation methods and assessment rules.
Residential Property
Most people are familiar with residential property because it's their home. Nebraska law generally requires residential property to be assessed at approximately 100% of its actual market value.
That means if your home would reasonably sell for $350,000 on the open market, its assessed value will typically be close to that amount.
County assessors determine these values using professionally accepted appraisal methods, including:
Recent home sales
Construction costs
Neighborhood trends
Property characteristics
Market conditions
Every parcel is periodically reviewed to help maintain fair and consistent valuations throughout the county.
What Are Homes Worth in the Conestoga School District?
While there is no official published "average home value" specifically for the Conestoga School District, several public data sources provide a helpful picture. According to the U.S. Census Bureau's American Community Survey (ACS) 2024 Five-Year Estimates, the:
Median owner-occupied home value within the Conestoga Public Schools area is approximately:
$359,600
The district includes communities such as:
Murray
Nehawka
Beaver Lake
Rural areas throughout much of eastern Cass County
The district contains approximately:
1,965 housing units
Approximately 95% single-family homes
Approximately 97% owner-occupied housing
Because Nebraska assesses residential property near market value, this provides a useful estimate of the typical taxable value of homes throughout much of the district.
Cass County as a Whole
Across all of Cass County, residential values vary considerably depending on location.
Lake properties, acreage homes, and areas closer to the Omaha metropolitan area generally have higher market values than other portions of the county.
For comparison:
Average residential value used for Homestead Exemption calculations (2025):
Approximately $247,399
This illustrates how the Conestoga area generally has higher residential values than the countywide average.
Agricultural Land
Agriculture has always been one of Cass County's largest land uses. Unlike residential property, agricultural land is assessed differently under Nebraska law.
Agricultural land is generally assessed at approximately:
75% of its market value
This reflects Nebraska's longstanding policy recognizing the unique nature of agricultural production.
Agricultural values are based on numerous factors including:
Soil productivity
Land capability
Irrigation
Market conditions
Sales of comparable farmland
What Is Farmland Worth?
According to the Nebraska Department of Revenue Property Assessment Division, the average assessed agricultural land value in Cass County for 2025 is approximately:
$5,352 per acre
Breaking that down further:
Land Type | Average Assessed Value |
Irrigated | ~$6,001/acre |
Dryland | ~$5,956/acre |
Grassland | ~$1,855/acre |
Waste Land | ~$776/acre |
Other Agricultural Land | ~$130/acre |
Overall agricultural land valuation:
Nearly 300,000 acres
Approximately $1.6 billion in assessed agricultural value
Agricultural land represents one of the largest components of Cass County's overall tax base.
Commercial Property
Commercial property includes businesses such as:
Retail stores
Office buildings
Warehouses
Hotels
Restaurants
Shopping centers
Commercial property is generally assessed near 100% of market value.
Assessors may consider:
Recent sales
Income generated by the property
Construction costs
Replacement costs
Industrial Property
Industrial property includes facilities such as:
Manufacturing plants
Processing facilities
Distribution centers
Energy facilities
Large industrial campuses
Like commercial property, industrial real estate is generally assessed at approximately market value. However, because industrial facilities are often unique, assessors frequently rely heavily on the cost approach, which estimates what it would cost to construct the facility today, adjusted for depreciation.
We'll discuss this in much greater detail in the next article.
Why These Values Matter
Every taxable property in Cass County contributes to the county's overall taxable valuation.
Think of the county's tax base like a pie.
Every home...
Every farm...
Every business...
Every commercial building...
Every industrial facility...
adds another piece.
The larger the overall tax base becomes, the more taxable value exists to support local government budgets. How that ultimately affects levy rates depends on numerous factors that we'll discuss later in this series.
Why We're Sharing This
Before discussing how a potential future development might affect property taxes, it's important to understand what Cass County's tax base looks like today. Only then can we have an informed discussion about what changes might occur if new taxable property were added in the future.
Coming Next
In Part 3, we'll tackle one of the biggest questions in this discussion:
We'll examine:
How billion-dollar industrial facilities are appraised
How Nebraska values industrial property
Why construction cost matters
The difference between real property and personal property
Estimated values of modern hyperscale data centers
Estimated values of large privately owned natural gas power plants
Understanding those valuations will help explain why large industrial developments can significantly change a county's tax base.
Sources
This article is based on publicly available information from:
U.S. Census Bureau – American Community Survey (ACS) 2024 Five-Year Estimates (Conestoga Public Schools geographic profile)
Nebraska Department of Revenue – Property Assessment Division
Cass County Assessor's Office
Cass County County Abstract of Assessment for Real Property (2025)
Nebraska Reports & Opinions of the Property Tax Administrator
Nebraska Revised Statutes, Chapter 77
Cass County Facts relies on publicly available government records, official reports, and primary source documents whenever possible. Our goal is to provide context and explain complex topics so residents can make informed decisions based on factual information.
