Walthill, Nebraska Property Taxes
The median property tax rate in Walthill, NE is 3.13%, significantly higher than both the national median of 0.99% and the Nebraska state median of 1.75%. With the median home value in Walthill at $25,665, the typical annual property tax bill reaches $749, which, while below the national median of $2,690, is still a notable expense for local homeowners. Property taxes in Walthill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Walthill'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 Walthill or another part of Thurston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walthill, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.13%
Estimate Property Tax Bill
$803
Ownwell’s Walthill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walthill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walthill 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 Walthill, Nebraska
Property taxes in Walthill, Nebraska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walthill is 3.13%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Walthill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walthill 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 Walthill's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68067 zip code has the highest median property tax rate of 3.13%, while the 68047 zip code has the lowest median tax rate of 3.13%. Understanding how these cities compare with Walthill provides valuable insights into the varying tax landscape across Thurston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walthill Tax Rate
3.13%
Average Thurston County Tax Rate
1.87%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walthill, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68047 | 3.13% | 3.13% | 3.13% | 3.13% | 3.13% |
| 68067 | 1.54% | 1.57% | 3.13% | 3.13% | 3.13% |
Source: Ownwell
Property Tax Assessment Values Across Walthill, Nebraska
In Walthill, 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 Thurston 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 Walthill, 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. For instance, the median home price in Walthill is $25,665. The tax bills can vary significantly, with the 25th percentile at $292 and the 75th percentile at $1,608. The highest median tax bill recorded is $755 in the 68067 zip code, which is also the lowest median tax bill in the area. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Walthill Assessed Value
$25,665
Average Thurston County Assessed Value
$86,240
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walthill, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68047 | $1,665 | $1,815 | $2,065 | $2,585 | $2,897 |
| 68067 | $4,093 | $9,598 | $26,495 | $95,915 | $345,152 |
Source: Ownwell
Property Tax Bills Across Walthill, Nebraska
In Walthill, property tax bills are calculated based on the assessed value of a home, which is determined by the Thurston County Assessor. The assessed value is a percentage of the market value of the property. Homeowners in Walthill can expect their tax bills to vary significantly, with the 25th percentile at $292 and the 75th percentile at $1,608. The tax bill at the 90th percentile can go up to $5,157, showcasing a wide range of property tax obligations. Several factors influence these tax bills, including the property's location, size, and condition, as well as local tax rates set by various taxing authorities like school districts and municipalities. For homeowners, this means that even slight changes in the assessed value or tax rates can significantly impact their annual property tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Walthill experience varied tax burdens, with the highest and lowest median tax bills both recorded at $755 in the 68067 zip code.
Average Walthill Tax Bill
$749
Average Thurston County Tax Bill
$1,554
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Walthill, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68047 | $52 | $57 | $65 | $81 | $91 |
| 68067 | $122 | $297 | $755 | $1,643 | $5,240 |
Source: Ownwell