Sutton, Nebraska Property Taxes
The median property tax rate in Sutton, NE is 0.94%, slightly below both the national median of 0.99% and Nebraska's state median of 1.75%. With the median home value in Sutton at $252,045, the typical annual property tax bill amounts to $2,363, which is also below the national median of $2,690. Property taxes in Sutton are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Sutton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sutton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sutton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$2,369
Ownwell’s Sutton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sutton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sutton to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Sutton, Nebraska
Property taxes in Sutton, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sutton is 1.80%, significantly higher than both the Nebraska state median of 1.61% and the U.S. national median of 0.99%. Local government entities within Sutton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sutton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Sutton's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68979 has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these cities compare with Sutton provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sutton Tax Rate
0.94%
Average Hamilton County Tax Rate
1.50%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sutton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68979 | 0.93% | 0.93% | 0.94% | 0.94% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Sutton, Nebraska
In Sutton, Nebraska, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Hamilton County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Sutton, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Sutton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 68979, with a median tax bill of $2,363, which also happens to be the lowest in the area.
Average Sutton Assessed Value
$252,045
Average Hamilton County Assessed Value
$155,855
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sutton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68979 | $116,980 | $155,848 | $252,045 | $467,205 | $798,555 |
Source: Ownwell
Property Tax Bills Across Sutton, Nebraska
In Sutton, located in Hamilton County, NE, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate the market value of the property. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Sutton, the tax rate can significantly influence their financial obligations. The median home price in Sutton is $252,045, and property tax bills can vary widely. For instance, homeowners at the 25th percentile pay around $1,399 annually, while those at the 75th percentile face bills as high as $4,733. At the 90th percentile, tax bills can soar to $8,738. Comparatively, the national median property tax rate is 0.99%, which can provide a benchmark for understanding local rates. These property tax bills impact homeowners by affecting their overall housing costs and potentially influencing decisions about buying or selling property in Sutton. Understanding how these taxes are calculated can help homeowners better manage their finances and anticipate future expenses.
Average Sutton Tax Bill
$2,363
Average Hamilton County Tax Bill
$2,134
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Sutton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68979 | $1,104 | $1,399 | $2,363 | $4,733 | $8,738 |
Source: Ownwell