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 0.48%, which is well below the national average of 0.99%.
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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.
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 0.48%. Compared to the 0.99% 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 can help you understand how homeownership fits into your overall financial goals. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
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.
Looking to calculate your potential monthly mortgage payment? Check out our mortgage calculator.
Clark County
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 0.64%, 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.
Washoe County
The typical homeowner in Washoe County pays $2,014 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.
Lyon County
The median home value in Lyon County is $238,600. So, while the median annual property tax payment is just $1,360 in Lyon County, that still adds up to an average effective property tax rate of 0.57%, seventh-highest in the state.
Elko County
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 0.56%, fourth-lowest in the state. At that rate, a home worth $200,000 would incur $1,120 a year in property taxes.
Douglas County
Douglas County is situated along the state border with California and the shores of Lake Tahoe. At $416,900, 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 0.56%, which equates to a median annual property tax payment of $2,334.
Nye County
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 0.63%, sixth-highest in the state.
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.
Methodology
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 calculated the average math and reading/language arts proficiencies for all the school districts in the country. Within each state, these schools were then ranked between 1 and 10 (with 10 being the best) based on those average scores.
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 2014 American Community Survey, Department of Education, Federal Bureau of Investigation, State Police or Justice Department websites
