Shelton, Nebraska Property Taxes
The median property tax rate in Shelton, NE is 2.20%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Shelton at $122,230, the typical annual property tax bill reaches $2,519, slightly below the national median of $2,690. Property taxes in Shelton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shelton'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 Shelton or another part of Buffalo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shelton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.2%
Estimate Property Tax Bill
$2,689
Ownwell’s Shelton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelton 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 Shelton, Nebraska
Property taxes in Shelton, Nebraska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelton is 2.20%, significantly higher than both the Nebraska state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Shelton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelton 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 Shelton's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68876 zip code has the highest median property tax rate of 2.20%, while the same zip code also has the lowest median tax rate of 2.20%. Understanding how these cities compare with Shelton provides valuable insights into the varying tax landscape across Buffalo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelton Tax Rate
2.20%
Average Buffalo County Tax Rate
1.75%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68876 | 1.51% | 1.53% | 2.20% | 2.20% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Shelton, Nebraska
In Shelton, 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 local 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 Shelton, 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 Shelton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Shelton is found in zip code 68876, amounting to $2,519.
Average Shelton Assessed Value
$122,230
Average Buffalo County Assessed Value
$185,962
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68876 | $34,860 | $74,551 | $122,230 | $206,589 | $358,030 |
Source: Ownwell
Property Tax Bills Across Shelton, Nebraska
In Shelton, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual property tax bill. For instance, with a median home price of $122,230, homeowners in Shelton can expect varying tax bills. The 25th percentile tax bill is around $1,460, while the 75th percentile reaches up to $3,945. At the higher end, the 90th percentile tax bill can soar to $6,099. These figures reflect a significant range, influenced by factors such as property size, location, and any applicable exemptions. The median property tax rate in Shelton is notably higher compared to the national median of 0.99%. For homeowners, understanding these factors is crucial as they directly impact the annual financial obligations tied to property ownership. Accurate assessments and awareness of potential exemptions can help manage these costs effectively.
Average Shelton Tax Bill
$2,519
Average Buffalo County Tax Bill
$3,186
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68876 | $608 | $1,460 | $2,519 | $3,945 | $6,099 |
Source: Ownwell