Walton, Lancaster County, Nebraska Property Taxes

Name: Property Tax Bills Across Walton, Lancaster County, Nebraska
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median WALTON, NE effective property tax rate: 1.21%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median WALTON, NE home value: $530,400
Median annual WALTON, NE tax bill: $6,499, $4,099 higher than the national median property tax bill of $2,400.

How are property taxes in Lancaster calculated?

Property taxes in WALTON, NE are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding WALTON’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in WALTON, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Walton, Lancaster County, Nebraska Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.21%

Estimate Property Tax Bill

$6,418

$5,956

Ownwell’s Walton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Walton with just two data points.

By entering your property's estimated assessed value, our calculator applies Walton’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lancaster County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Walton, Lancaster County, Nebraska

Local government entities in Walton, NE, set property tax rates, which can vary significantly within the state. This variation arises because each year, counties like Lancaster estimate their budgetary needs for public services and divide this figure by the total taxable property value in their jurisdiction. This calculation determines the property tax rate. Though votes and legislation play a role in finalizing tax rates and budgets, this is essentially the yearly procedure.

In Walton, the effective property tax rate is a key figure for property owners to consider. This rate can be compared to those in other Nebraska cities and the median property tax rates across the state. With Nebraska's median property tax rate at 1.21%, it stands above the national median of 1.02%. This comparison can help property owners understand their tax obligations relative to other regions. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively. By staying informed, Walton residents can better navigate the complexities of property taxation in their area.

Property Tax Rates Across Walton, Lancaster County, Nebraska

Source: Ownwell

1.14%

1.47%

1.80%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Walton Tax Rate

1.21%

Median Effective Lancaster County Tax Rate

1.51%

Median Effective Nebraska Tax Rate

1.75%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Walton, Lancaster County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
68461	0.98%	1.13%	1.21%	1.28%	1.39%

Source: Ownwell

Property Tax Assessment Values Across Walton, Lancaster County, Nebraska

When examining property taxes in Walton, NE, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lancaster County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Lancaster County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Walton. For example, the median home price in Walton is $530,400, with tax bills ranging significantly across the county. Zip code 68461 has the highest median home price at $530,400.

Property Tax Assessment Values Across Walton, Lancaster County, Nebraska

Source: Ownwell

$160,450

$345,425

$530,400

Median Walton Market Value

$530,400

Median Lancaster County Market Value

$238,100

Median Nebraska Market Value

$182,439

Median United States Market Value

$235,294

Property Tax Assessment Values Across Walton, Lancaster County, Nebraska

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
68461	$183,050	$350,250	$530,400	$826,350	$1,282,650

Source: Ownwell

Property Tax Bills Across Walton, Lancaster County, Nebraska

In Walton, part of Lancaster County, NE, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For Walton, the median home price is $530,400, leading to a tax bill that can vary significantly. For instance, bills range from the 25th percentile at $4,440 to the 90th percentile at $15,453. These figures highlight the variability in tax burdens homeowners face, often influenced by factors such as changes in market conditions and local budgetary needs. Compared to the national median property tax bill of $2,400, Walton's homeowners experience higher tax obligations. Ownwell can assist homeowners by reviewing their property assessments to ensure accuracy and identifying potential savings through appeals or exemptions. By leveraging expert knowledge, Ownwell helps homeowners potentially reduce their tax bills, providing financial relief and ensuring fair taxation.

Property Tax Bills Across Walton, Lancaster County, Nebraska

Source: Ownwell

$2,267

$4,383

$6,499

Median Walton Tax Bill

$6,499

Median Lancaster County Tax Bill

$3,561

Median Nebraska Tax Bill

$3,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Walton, Lancaster County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
68461	$2,025	$4,440	$6,499	$10,580	$15,453

Source: Ownwell