Jackpot, Nevada Property Taxes
The median property tax rate in Jackpot, NV is 0.90%, slightly below the national median of 0.99% but higher than the Nevada state median of 0.80%. With the median home value in Jackpot at $82,986, the typical annual property tax bill amounts to $750, which is significantly lower than the national median of $2,690. Property taxes in Jackpot are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Jackpot's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Jackpot or another part of Elko County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jackpot, Nevada Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,600
Ownwell’s Jackpot Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jackpot with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jackpot 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 Jackpot, Nevada
Property taxes in Jackpot, NV, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jackpot is 0.90%, slightly lower than the U.S. national median of 0.99%. Local government entities within Jackpot set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jackpot 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 Jackpot's effective property tax rate to other counties in Nevada and the national median. For comparison, the 89825 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Jackpot provides valuable insights into the varying tax landscape across Elko County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jackpot Tax Rate
0.90%
Average Elko County Tax Rate
0.92%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jackpot, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89825 | 0.81% | 0.85% | 0.90% | 1.04% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Jackpot, Nevada
In Jackpot, Nevada, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Elko County Assessor 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 Jackpot, 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 in Jackpot helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 89825 has the highest and lowest median tax bill at $750.
Average Jackpot Assessed Value
$82,986
Average Elko County Assessed Value
$142,560
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jackpot, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89825 | $18,720 | $41,556 | $82,986 | $154,958 | $245,463 |
Source: Ownwell
Property Tax Bills Across Jackpot, Nevada
In Jackpot, located in Elko County, NV, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Jackpot is $82,986. Local tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Jackpot, the tax bill ranges significantly, with the 25th percentile at $348 and the 75th percentile reaching $1,414. Homeowners in the 90th percentile can expect to pay up to $2,531. Interestingly, the highest and lowest median tax bills in the area both stand at $750, within the 89825 zip code. Compared to the national median property tax rate of 0.99%, Jackpot's property taxes can be relatively moderate, offering some relief to homeowners. Understanding these factors helps homeowners anticipate their financial obligations and budget accordingly.
Average Jackpot Tax Bill
$750
Average Elko County Tax Bill
$1,397
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Jackpot, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89825 | $164 | $348 | $750 | $1,414 | $2,531 |
Source: Ownwell