Nevada Property Tax: Key Highlights

Nevada Property Tax: Key Highlights


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Nevada property taxes fund community amenities such as roads, schools, and police. However, Nevada property tax rates are among the lowest in the United States. The state’s average effective property tax rate is only 0.48%. That rate is significantly lower than the national average of 0.99%.

Nevada property tax abatement law protects homeowners against excessive increases in property tax bills, limiting annual increases to a maximum of 3%.

Nevada Property Tax

In Nevada, property taxes are calculated using both the market value of a property and the replacement cost of any structures within the property. County assessors in each county must reappraise each property at least once each five-year period.

The taxable value of a property is computed using the cash value of the land itself (the amount the land alone could be sold for on the marketplace) plus the replacement cost of all buildings, minus 1.5% annual depreciation since construction.

The assessed value equals to 35% of the taxable value. Thus, if your County Assessor concludes that your home has a taxable value of $100,000, the assessed value will amount to $35,000. Tax rates apply to such amount.

Nevada Property Tax Rates

What are the Nevada Property Tax Rates?

Nevada tax rates are given in dollars per $100 of assessed value. So, if your tax rate is $3.25 while your assessed worth is $40,000, your total annual tax will be $1,300.

Every Nevada county contains multiple tax districts. Clark County, for example, has 92 different tax districts, each with its own rate structure. Thus, when comparing counties, it is helpful to consider average effective rates.

An effective rate is the annual property tax payment expressed as a percentage of the home’s value.

County Median Home Value Median Annual Property Tax Payment Average Effective Property Tax Rate
Carson City $198,800 $1,387 0.70%
Churchill $285,100 $1,835 0.64%
Clark $416,900 $2,334 0.56%
Douglas $225,800 $1,266 0.56%
Elko $81,100 $489 0.60%
Esmeralda $151,000 $369 0.24%
Eureka $186,200 $1,155 0.62%
Humboldt $167,400 $1,203 0.72%
Lander $132,600 $954 0.72%
Lincoln $238,600 $1,360 0.57%
Lyon $99,900 $958 0.96%
Mineral $172,300 $1,088 0.63%
Nye $114,400 $962 0.84%
Pershing $264,000 $1,469 0.56%
Storey $360,500 $2,014 0.56%
Washoe $157,100 $932 0.59%
White Pine $299,900 $1,603 0.53%

Source: SmartAsset

Read more: General Property Tax Information and Links to County Assessors and Treasurers

Clark County

Clark County, which includes Las Vegas, is easily Nevada’s most populous county, accounting for about 75% of the state’s population. The county’s average effective property tax is 0.64%, which is slightly more than the state average but still much lower than the national average.

Clark County has 92 separate tax districts. The lowest rates are found in unincorporated areas of the county, where the total rate is approximately $2.50 per $100 of assessed value.

If you have any doubts about how property taxes affect your entire financial objectives, a financial advisor can assist you.

Washoe County

Washoe County homeowners spend an average of $2,014 in property taxes each year. Washoe County’s base tax rate is $2.70 per $100, with each locality charging an extra tax. Reno, the county’s main city, has a combined tax rate of $3.66 per $100.

Lyon County

Lyon County’s median home value is $238,600. So, despite Lyon County’s median yearly property tax payment is only $1,360, this equates to an average effective property tax rate of 0.57%, the seventh-highest in the state.

Elko County

Looking to relocate to a location of Nevada with inexpensive property taxes? Elko County might be the right fit for you. The county’s average effective property tax rate is 0.56%, the fourth lowest in the state. With that rate, a $200,000 home would pay $1,120 in annual property taxes.

Douglas County

Douglas County is located near the state boundary with California and the shores of Lake Tahoe. Its median home value is $416,900, the highest of any county in Nevada. In contrast, property tax rates are quite modest. The average effective property tax rate in Douglas County is at 0.56%, resulting in an average yearly property tax payment of $2,334.

Nye County

Nye County, the largest county by land in the entirety of the United States, also has some of the highest property tax rates in Nevada. Nye County’s average effective property tax rate being 0.63%, the sixth highest in the state.

>> Looking for bookkeepers in Nevada? XOA TAX offers bookkeeping services for your business in Nevada. Get expert support for your business.

Where to Go for State Property Tax Help

Property taxes must be estimated correctly in order for you to avoid overpaying, underpaying, or not paying any at all. You can also deduct federal real estate taxes in addition to this. However, it might be difficult to ascertain how much the deduction is, who receives it, and when.

XOA TAX Live Service is the place to go if you need more assistance with your Nevada property tax issues or general Nevada state tax facts. We’ll match you with a tax professional who is knowledgeable about your state. Without going to an office, you can get your taxes done by a professional tax expert.

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