68461 Property Tax Rate

Property owners in ZIP code 68461 (Walton, Nebraska) pay a median of $7,182/year in property taxes on homes valued at $486,100. This translates to an effective tax rate of 1.48%, which is 12% above the Nebraska state average of 1.32%.

The monthly property tax burden for a median-valued home in 68461 is approximately $599, which factors into escrow payments on mortgages. This ZIP code is located within Lancaster County. This is $4,899 more than the Nebraska average of $2,283/year.

Compared to similar ZIP codes in Nebraska, 68461 has higher property taxes. ZIP codes with similar effective rates include 68307 (1.48%) and 68445 (1.48%).

Nebraska reassesses properties at fair market value upon transfer, with no statewide cap limiting the increase. Lancaster County (home to Lincoln) offers a Homestead Exemption for primary residences — file your application with the Lancaster County Assessor immediately after purchase to claim the exemption and reduce your assessed value. Request documentation of your assessed value from the Lancaster County Assessor and review the county's appeal procedures, which typically require filing within 30 days of receiving the assessment notice.