Shelby, Nebraska Property Taxes
The median property tax rate in Shelby, NE is 1.09%, which is higher than both the national median of 0.99% and Nebraska's state median of 1.75%. With a median home value of $302,898 in Shelby, the typical annual property tax bill reaches $3,315, surpassing the national median of $2,690. Property taxes in Shelby are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Shelby'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 Shelby or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shelby, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$3,302
Ownwell’s Shelby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelby 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 Shelby, Nebraska
Property taxes in Shelby, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelby is 1.09%, higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Shelby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelby 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 Shelby's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68662 zip code has the highest median property tax rate of 1.09%, while the 68662 zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Shelby provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelby Tax Rate
1.09%
Average Butler County Tax Rate
1.49%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelby, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68662 | 1.07% | 1.09% | 1.09% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Shelby, Nebraska
In Shelby, 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 Butler County Assessor 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 Shelby, 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 Shelby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 68662, with a median tax bill of $3,315.
Average Shelby Assessed Value
$302,898
Average Butler County Assessed Value
$140,672
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelby, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68662 | $115,136 | $225,061 | $302,898 | $383,080 | $504,511 |
Source: Ownwell
Property Tax Bills Across Shelby, Nebraska
In Shelby, located in Butler County, NE, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price here is $302,898, with property taxes varying significantly based on the home's value and location within the city. For instance, homeowners in the 25th percentile can expect a tax bill around $2,424, while those in the 75th percentile might see bills as high as $4,193. The 90th percentile tax bill can reach up to $5,522, highlighting the range of property tax burdens in the area. Factors influencing the tax bill include the home's assessed value, which is determined by local assessors, and the specific tax rate applied by local taxing authorities. These elements combined affect how much homeowners owe annually. Compared to the national median property tax rate of 0.99%, Shelby's property tax rates can significantly impact homeowners' finances, depending on their property's assessed value and the applicable local tax rate.
Average Shelby Tax Bill
$3,315
Average Butler County Tax Bill
$1,858
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelby, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68662 | $1,191 | $2,424 | $3,315 | $4,193 | $5,522 |
Source: Ownwell