Overview of Nevada Taxes
Nevada’s property tax rates are among the lowest in the U.S. The state’s average effective property tax rate is just 0.53%, which is well below the national average of 1.07%.
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To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
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Jennifer Mansfield, CPA, JD/LLM-Tax, is a Certified Public Accountant with more than 30 years of experience providing tax advice. SmartAsset’s tax expert has a degree in Accounting and Business/Management from the University of Wyoming, as well as both a Masters in Tax Laws and a Juris Doctorate from Georgetown University Law Center. Jennifer has mostly worked in public accounting firms, including Ernst & Young and Deloitte. She is passionate about helping provide people and businesses with valuable accounting and tax advice to allow them to prosper financially. Jennifer lives in Arizona and was recently named to the Greater Tucson Leadership Program.
Nevada Property Taxes
Property taxes in Nevada pay for local services such as roads, schools and police. However, the property tax rates in Nevada are some of the lowest in the U.S. The state’s average effective property tax rate is just 0.53%. Compared to the 1.07% national average, that rate is quite low.
Homeowners in Nevada are protected from steep increases in property tax bills by Nevada’s property tax abatement law, which limits annual increases in property tax bills to a maximum of 3% for homeowners.
If learning about Nevada’s particularly low property taxes has you interested in purchasing a home in the Silver State, head over to our Nevada mortgage guide, where you’ll find all the necessary information about getting a mortgage there before your move.
A financial advisor in Nevada can help you understand how homeownership fits into your overall financial goals. Financial advisors can also help with investing and financial plans, including taxes, homeownership, retirement and more, to make sure you are preparing for the future.
Nevada Property Tax Rules
Property taxes in Nevada are based on the market value of a property, as well as the replacement cost of any structures on a property. County Assessors in each county are required to reappraise all property at least once every five years.
The taxable value of a property is calculated as the cash value of the land (the amount the land alone would sell for on the market), and the replacement cost of all buildings minus depreciation of 1.5% per year since construction.
Assessed value is equal to 35% of that taxable value. Thus, if your County Assessor determines your home’s taxable value is $100,000, your assessed value will be $35,000. Tax rates apply to that amount.
Nevada’s tax abatement law protects homeowners from sudden spikes in their property taxes. The law limits increases in property taxes on primary residences to 3% per year. Thus, even if home values increase by 10%, property taxes will increase by no more than 3%.
Nevada Property Tax Rates
Tax rates in Nevada are expressed in dollars per $100 in assessed value. Thus, if your tax rate is $3.25 and your assessed value is $40,000, your total annual tax is $1,300.
There are numerous tax districts within every Nevada county. Clark County, for example, lists 92 different tax districts, with different rates for each district. Thus, when comparing between counties, it is useful to look at average effective rates.
An effective rate is the annual property tax payment as a percentage of home value. The table below shows average effective tax rates, median home value and median annual property taxes for every county in Nevada.
|County||Median Home Value||Median Annual Property Tax Payment||Average Effective Property Tax Rate|
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Easily the largest county by population in Nevada, Clark County contains almost 75% of the state’s residents and includes Las Vegas. The average effective property tax in the county is 0.65%, slightly higher than the statewide average, but still significantly lower than the national average.
There are 92 different tax districts in Clark County. The lowest rates can be found in unincorporated parts of the county, where the total rate is about $2.50 per $100 in assessed value.
If you have questions about how property taxes can affect your overall financial plans, a financial advisor in Las Vegas can help you out.
The typical homeowner in Washoe County pays $1,850 annually in property taxes. The base tax rate in Washoe County is $2.70 per $100, though each locality will charge an additional tax. In Reno, the county’s largest city, the total combined tax rate is $3.66 per $100.
Located in western Nevada, Carson City is Nevada’s only independent city, which means that it is not a part of any county. That may be part of the reason property tax rates in Carson City are fairly lower than other, more highly populated areas of the state. The effective property tax rate in Carson City is 0.61%, and the median annual property tax payment here is $1,488.
The median home value in Lyon County is $183,900. So, while the median annual property tax payment is just $1,273 in Lyon County, that still adds up to an average effective property tax rate of 0.69%, seventh-highest in the state.
Looking to move to a part of Nevada with low property taxes? Elko County may be the place for you. The county’s average effective property tax rate is just 0.59%, fourth-lowest in the state. At that rate, a home worth $200,000 would incur $1,180 a year in property taxes.
Douglas County is situated along the state border with California and the shores of Lake Tahoe. At $346,500, it has the highest median home value of any county in Nevada. Property tax rates, however, are relatively low. The average effective property tax rate in Douglas County is just 0.60%, which equates to a median annual property tax payment of $2,091.
The largest county by area in the contiguous United States, Nye County also has some of the higher property tax rates in the Nevada. Nye County’s average effective property tax rate is 0.75%, fifth-highest in the state.