Lushton, Nebraska Property Taxes
The median property tax rate in Lushton, NE is 1.20%, slightly higher than the national median of 0.99% but lower than the Nebraska state median of 1.75%. With a median home value of $37,116 in Lushton, the typical annual property tax bill amounts to $444, significantly below the national median of $2,690. Property taxes in Lushton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lushton’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lushton or another part of York County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lushton, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$445
Ownwell’s Lushton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lushton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lushton 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 York County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lushton, Nebraska
Property taxes in Lushton, Nebraska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lushton is 1.20%, significantly higher than both the Nebraska state median and the U.S. national median of 0.99%. Local government entities within Lushton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lushton 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 Lushton's effective property tax rate to other counties in Nebraska and the national median. For comparison, the 68371 zip code has the highest median property tax rate of 1.20%, while the lowest median tax rate is also 1.20%. Understanding how these cities compare with Lushton provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lushton Tax Rate
1.20%
Average York County Tax Rate
1.78%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lushton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68371 | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Lushton, Nebraska
In Lushton, 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 York 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 Lushton, 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 Lushton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $444 in zip code 68371, which also has the lowest median tax bill of $444.
Average Lushton Assessed Value
$37,116
Average York County Assessed Value
$120,076
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lushton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68371 | $37,116 | $37,116 | $37,116 | $37,116 | $37,116 |
Source: Ownwell
Property Tax Bills Across Lushton, Nebraska
In Lushton, located in York County, NE, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property’s market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For Lushton, the median home price is $37,116, and the property tax rate is derived from this valuation. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Lushton can expect a median tax bill of $444, which is significantly lower than the national median property tax rate of 0.99%. This lower tax burden can be beneficial for homeowners, offering them more financial flexibility. Understanding these factors is crucial for homeowners as it helps them anticipate their annual expenses and manage their finances more effectively. Lower property taxes can also make Lushton an attractive option for potential homebuyers looking for affordability.
Average Lushton Tax Bill
$444
Average York County Tax Bill
$1,911
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Lushton, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68371 | $444 | $444 | $444 | $444 | $444 |
Source: Ownwell