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 0.77%. That is well below the national average of 1.19%.
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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.
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Nevada Property Taxes
Property taxes in Nevada pay for local services such as roads, schools and police. However, Nevada’s property tax rates are among the lowest in the U.S. The state’s average effective property tax rate is just 0.77%. That is well below the national average of 1.19%.
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.
Looking to calculate your potential monthly mortgage payment? Check out our mortgage calculator.
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 112 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.
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.
|County||Median Home Value||Median Annual Property Tax Payment||Average Effective Property Tax Rate|
Easily the largest county by population in Nevada, Clark County contains almost 75% of the state’s people. The average effective property tax in the county is 0.80%, slightly higher than the statewide average but still significantly lower than the national average.
As mentioned above, there are 112 different tax districts in Clark County. The lowest rates can be found in unincorporated parts of the county, where the total rate is $2.50 per $100 in assessed value for the 2018 fiscal year. The highest rate is in Mt. Charleston, which has a total rate of $3.40 for the 2018 fiscal year. In Las Vegas, the rate is $3.28 per $100 in assessed value.
The typical homeowner in Washoe County pays $1,751 annually in property taxes. That is about $275 more than the average homeowner in the state. The base tax rate in Washoe County is $2.70 and each locality will charge an additional tax. In Reno, the county’s largest city, the total tax rate for the 2018 fiscal year is $3.66 per $100 in assessed value.
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 so much lower than they are in most of the rest of the state.
The average effective property tax rate in Carson City is 0.70%. That ranks as the seventh lowest rate of Nevada’s 17 counties (including, of course, Carson City).
According to the U.S. Census Bureau, the median home value in Lyon County is $143,200. So, while median annual property taxes are just $1,206 in Lyon County, that still adds up to an average effective property tax rate of 0.84%, sixth 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 0.58%, third lowest in the state. At that rate, a home worth $200,000 (near the median home value for the county) would have property taxes of just $1,160 annually.
Douglas County is situated along the state border with California and the shores of Lake Tahoe. At $282,500, 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 0.67%.
The largest county by area in the contiguous United States, Nye County also has some of the highest property tax rates in the state. Nye County’s average effective property tax rate 0.92%, third highest in Nevada.
Property Tax: Which Counties are Getting the Best Bang for Their Buck
SmartAsset’s interactive map highlights the places across the country where property tax dollars are being spent most effectively. Zoom between states and the national map to see the counties getting the biggest bang for their property tax buck.
Our study aims to find the places in the United States where people are getting the most for their property tax dollars. To do this we looked at school rankings, crime rates and property taxes for every county.
As a way to measure the quality of schools, we analyzed the math and reading/language arts proficiencies for every school district in the country. We created an average score for each district by looking at the scores for every school in that district, weighting it to account for the number of students in each school. Within each state, we assigned every county a score between 1 and 10 (with 10 being the best) based on the average scores of the districts in each county.
For each county, we calculated the violent and property crimes per 100,000 residents.
Using the school and crime numbers, we calculated a community score. This is the ratio of the school rank to the combined crime rate per 100,000 residents.
We used the number of households, median home value and average property tax rate to calculate a per capita property tax collected for each county.
Finally, we calculated a tax value by creating a ratio of the community score to the per capita property tax paid. This shows us the counties in the country where people are getting the most bang for their buck, or where their property tax dollars are going the furthest.
Sources: US Census Bureau 2017 American Community Survey, Department of Education, Federal Bureau of Investigation, State Police or Justice Department websites