Property taxes in Nevada pay for such local services as roads, schools and police. When compared to other U.S. states, however, Nevada’s property tax rates are relatively low. The state’s average effective property tax rate (median annual taxes paid as a percentage of median home value) is 0.96%.
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.
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 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.
Clark County
Easily the largest county by population in Nevada, Clark County contains over 75% of the state’s people. The average effective property tax in the county is 1.02%, slightly higher than the statewide average but 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 2015 fiscal year. The highest rate is in Mt. Charleston, which has a total rate of $3.40 for the 2015 fiscal year. In Las Vegas, the rate is $3.27 per $100 in assessed value.
Washoe County
The typical homeowner in Washoe County pays $1,835 annually in property taxes. That is about $200 more than a homeowner at the state level. Tax rates in Washoe County vary depending on where you live. In Reno, the county’s largest city, the total tax rate for the 2015 fiscal year is $3.66 per $100 in assessed value.
Carson City
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 0.67%. That ranks as the thirteenth lowest rate of Nevada’s 17 counties (including, of course, Carson City).
Lyon County
According to the U.S. Census Bureau, the median home value in Lyon County is $133,400. So, while median annual property taxes are just $1,300 in Lyon County, that still adds up to an average effective property tax rate of 0.97%, fourth highest in the state.
Elko County
Looking for a part of Nevada with low property taxes? Elko County is the place for you. The county’s average effective property tax rate is just 0.59%, second lowest in the state. At that rate property taxes on a home worth $200,000 would be just $1,180 annually.
Douglas County
Douglas County is situated along the state border with California and the shores of Lake Tahoe. At $271,400, 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 0.70%.
Nye County
The 3rd largest county by area in the contiguous United States, Nye County has property tax rates slightly higher than the state average. Nye County’s average effective property tax rate 1.01%, third highest in Nevada.
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