Nevada City, California Property Taxes
The median property tax rate in Nevada City, CA is 1.10%, which is considerably higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $360,696 in Nevada City, the typical annual property tax bill amounts to $4,031, surpassing the national median of $2,690. Property taxes in Nevada City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Nevada City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Nevada City or another part of Nevada County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nevada City, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$3,968
$3,747
Ownwell’s Nevada City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nevada City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nevada City to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Nevada City, California
Property taxes in Nevada City, California, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nevada City is 1.10%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Nevada City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nevada City estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Nevada City's effective property tax rate to other counties in California and the national median. For comparison, the 95959 zip code has the highest median property tax rate of 1.10%, while the 95959 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Nevada City provides valuable insights into the varying tax landscape across Nevada County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nevada City Tax Rate
1.10%
Average Nevada County Tax Rate
1.16%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nevada City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95959 | 1.05% | 1.07% | 1.10% | 1.14% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Nevada City, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Nevada City, California. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Nevada County Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Nevada City, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Nevada City is $4,031 in the 95959 zip code, which is also the lowest median tax bill, reflecting a consistent tax environment.
Property Tax Assessment Values Across Nevada City, California
Source: Ownwell
$181,896
$588,325
$994,754
Average Nevada City Assessed Value
$360,696
Average Nevada County Assessed Value
$380,629
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nevada City, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95959 | $120,279 | $217,960 | $360,696 | $535,899 | $749,906 |
Source: Ownwell
Property Tax Bills Across Nevada City, California
In Nevada City, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Nevada City is $360,696. Property taxes are influenced by various factors, including the property's market value, local tax rates, and any applicable exemptions. Homeowners in Nevada City experience a range of tax bills, with the 25th percentile at $2,493 and the 75th percentile reaching $5,939. The 90th percentile tax bill can go as high as $8,240. The highest and lowest median tax bills in the area are both recorded at $4,031, specifically in the 95959 zip code. This variability in tax bills underscores the importance of understanding how individual property assessments and local tax rates impact overall costs. Compared to the national median property tax rate of 0.99%, homeowners in Nevada City may find their tax obligations to be a significant factor in their annual financial planning.
Average Nevada City Tax Bill
$4,031
Average Nevada County Tax Bill
$4,722
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Nevada City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95959 | $1,450 | $2,493 | $4,031 | $5,939 | $8,240 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Nevada Tax Assessor | |
| Website | common2.mptsweb.com |