Sutton, Nebraska Property Taxes
The median property tax rate in Sutton, NE is 1.85%, considerably higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Sutton, the typical annual property tax bill reaches $1,859, which exceeds the national median of $2,690. Property taxes in Sutton 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 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
1.85%
Estimate Property Tax Bill
$2,076
$1,926
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sutton is 1.85%, significantly higher than 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 68979 zip code has both the highest and lowest median property tax rate of 1.85%. Understanding how these areas 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
1.85%
Average Clay County Tax Rate
1.67%
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 | 1.04% | 1.85% | 1.85% | 1.85% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Sutton, Nebraska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sutton, Nebraska. 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 Clay 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 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. Notably, the zip code 68979 has the highest and lowest median tax bill at $1859, providing a benchmark for property owners in the area.
Average Sutton Assessed Value
$112,195
Average Clay County Assessed Value
$85,465
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 | $25,742 | $57,358 | $112,195 | $179,078 | $282,714 |
Source: Ownwell
Property Tax Bills Across Sutton, Nebraska
In Sutton, located in Clay County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Sutton is $112,195. Property taxes hinge on this assessed value and the local tax rate. For instance, homeowners in Sutton face varying tax bills, with the 25th percentile paying around $911, while those in the 75th percentile pay approximately $3,034. The tax bill can climb significantly, reaching up to $4,519 for those in the 90th percentile. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. This system ensures that tax obligations are proportionate to property values, impacting homeowners differently based on their property's worth. Compared to the national median property tax rate of 0.99%, Sutton's rates reflect the local economic conditions and funding needs, directly affecting homeowners' annual financial planning.
Average Sutton Tax Bill
$1,859
Average Clay County Tax Bill
$1,360
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 | $271 | $911 | $1,859 | $3,034 | $4,519 |
Source: Ownwell