Paxton, Nebraska Property Taxes
The median property tax rate in Paxton, NE is 1.22%, which is higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $130,135, the typical annual property tax bill in Paxton amounts to $1,673, falling below the national median of $2,690. Property taxes in Paxton are calculated based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Paxton'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 Paxton or another part of Keith County, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Paxton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,588
Ownwell’s Paxton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paxton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paxton 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 Paxton, Nebraska
Property taxes in Paxton, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paxton is 1.22%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Paxton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paxton 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 Paxton's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 69155 zip code has the highest median property tax rate of 1.22%, while the same zip code has the lowest median tax rate of 1.22%. Understanding how these cities compare with Paxton provides valuable insights into the varying tax landscape across Keith County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paxton Tax Rate
1.22%
Average Keith County Tax Rate
1.22%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paxton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69155 | 0.90% | 0.92% | 1.22% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Paxton, Nebraska
In Paxton, 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 Keith 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 Paxton, 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 Paxton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 69155 in Paxton has both the highest and lowest median tax bill, valued at $1,673.
Average Paxton Assessed Value
$130,135
Average Keith County Assessed Value
$113,500
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paxton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69155 | $30,079 | $71,565 | $130,135 | $281,825 | $621,571 |
Source: Ownwell
Property Tax Bills Across Paxton, Nebraska
In Paxton, located in Keith County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For instance, with a median home price of $130,135, the tax bill can vary significantly depending on the exact value and location within the city. Several factors influence the tax bill, including the property's assessed value, exemptions, and the local tax rate. Homeowners in Paxton can expect their tax bills to range widely. At the 25th percentile, tax bills are around $915, while at the 75th percentile, they rise to approximately $2,864. For those in the 90th percentile, tax bills can be as high as $5,853. Compared to the national median property tax rate of 0.99%, Paxton's tax rates can have a substantial impact on homeowners, affecting both affordability and long-term financial planning.
Average Paxton Tax Bill
$1,673
Average Keith County Tax Bill
$1,583
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Paxton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 69155 | $392 | $915 | $1,673 | $2,864 | $5,853 |
Source: Ownwell