Sutton, Nebraska Property Taxes
The median property tax rate in Sutton, Nebraska is 1.01%, slightly higher than the national median of 0.99% but significantly lower than the Nebraska state median of 1.75%. With a median home value of $212,385, the typical annual property tax bill in Sutton amounts to $2,141, which is below the national median of $2,690. Property taxes in Sutton are based on the assessed value, which is often lower than the market value due to available exemptions like primary residence and agricultural exemptions. Understanding Sutton's property tax system, exploring these exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sutton or another part of the city, grasping 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
1.01%
Estimate Property Tax Bill
$2,145
$1,991
Ownwell’s Sutton Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating 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 1.01%, slightly 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 1.01%. Understanding how these cities compare with Sutton provides valuable insights into the varying tax landscape across Fillmore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sutton Tax Rate
1.01%
Average Fillmore County Tax Rate
1.63%
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 | 0.96% | 1.00% | 1.01% | 1.02% | 1.02% |
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 Fillmore 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. The highest and lowest median tax bills in Sutton are both $2,141, found in the 68979 zip code.
Average Sutton Assessed Value
$212,385
Average Fillmore County Assessed Value
$93,580
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 | $88,358 | $114,222 | $212,385 | $409,766 | $916,645 |
Source: Ownwell
Property Tax Bills Across Sutton, Nebraska
In Sutton, property tax bills are calculated based on the assessed value of your home combined with the local tax rate. The assessed value is determined by the county assessor and is a percentage of your property's market value. For example, with a median home price of $212,385, your assessed value would be a significant factor in determining your tax bill. The tax rate in Sutton is influenced by various local budgets, including schools, infrastructure, and emergency services. Homeowners in Sutton can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is approximately $1,101, while the 75th percentile reaches around $4,140. At the 90th percentile, the tax bill can go as high as $9,196. These tax bills have a direct impact on homeowners, affecting monthly mortgage payments and overall affordability. Compared to the national median property tax rate of 0.99%, Sutton's property taxes can be relatively high or low depending on the specific assessed value and local tax rates.
Average Sutton Tax Bill
$2,141
Average Fillmore County Tax Bill
$1,380
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 | $729 | $1,101 | $2,141 | $4,140 | $9,196 |
Source: Ownwell