Walton, Otoe County, Nebraska Property Taxes

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

Median Walton, NE effective property tax rate: 1.60%, significantly higher than the national median of 1.02%, but lower than the Nebraska state median of 1.75%.
Median Walton, NE home value: $492,700
Median annual Walton, NE tax bill: $7,877, $5,477 higher than the national median property tax bill of $2,400.

How are property taxes in Otoe 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, Otoe County, Nebraska Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.6%

Estimate Property Tax Bill

$7,883

$7,315

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

Property Tax Rates Across Walton, Otoe County, Nebraska

Local government entities determine tax rates, which can differ significantly within a state. Each year, counties estimate their necessary budget to deliver services and then divide that amount by the total assessed value of all taxable property within their boundaries. This calculation establishes the property tax rate. Although voting and legislation play roles in finalizing tax rates and budgets, this is essentially the yearly procedure.

In Walton, located in Lancaster County, Nebraska, the effective property tax rate is 2.06%. This rate is considerably higher than both the Nebraska state median property tax rate of 1.60% and the national median of 1.02%. Residents of Walton face a median property tax bill of $3,600, which is notably above the national median of $2,400. This comparison highlights the relatively high property tax burden in Walton compared to other areas in Nebraska and across the United States. Understanding these differences is crucial for property owners in Walton as they navigate their financial obligations and consider potential appeals or exemptions to manage their property tax liabilities effectively.

Property Tax Rates Across Walton, Otoe County, Nebraska

Source: Ownwell

1.44%

1.97%

2.51%

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

1.60%

Median Effective Otoe County Tax Rate

1.92%

Median Effective Nebraska Tax Rate

1.75%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Walton, Otoe County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
68461	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Walton, Otoe 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 Otoe County Assessor's Office 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. Assessment notices: In Otoe 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 $492,700, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Walton, Otoe County, Nebraska

Source: Ownwell

$31,060

$203,400

$375,740

Median Walton Market Value

$492,700

Median Otoe County Market Value

$121,530

Median Nebraska Market Value

$182,439

Median United States Market Value

$235,294

Property Tax Assessment Values Across Walton, Otoe County, Nebraska

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
68461	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Walton, Otoe County, Nebraska

In Walton, located in Otoe County, Nebraska, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is then multiplied by the local tax rate to determine the final tax bill. Walton homeowners face tax bills that are significantly higher than the national median property tax bill of $2,400. The 25th percentile of tax bills in Walton is $6,434, while the 75th percentile reaches $8,120, and the 90th percentile stands at $8,933. These figures highlight the substantial property tax burden on homeowners in Walton, especially when compared to national averages. Factors such as local government budgets, school funding needs, and public service requirements all influence the tax rate and, consequently, the tax bill. Ownwell assists homeowners by providing expert property tax appeal services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying, offering significant savings and peace of mind.

Property Tax Bills Across Walton, Otoe County, Nebraska

Source: Ownwell

$439

$2,958

$5,477

Median Walton Tax Bill

$7,877

Median Otoe County Tax Bill

$2,328

Median Nebraska Tax Bill

$3,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Walton, Otoe County, Nebraska

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
68461	N/A	N/A	N/A	N/A	N/A

Source: Ownwell