Yerington, Nevada Property Taxes
The median property tax rate in Yerington, NV is 0.84%, slightly lower than the national median of 0.99% but higher than the Nevada state median of 0.80%. With the median home value in Yerington at $148,218, the typical annual property tax bill is $1,121, which is below the national median of $2,690. Property taxes in Yerington are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yerington'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 Yerington or another part of Lyon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yerington, 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 Yerington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yerington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yerington 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 Yerington, Nevada
Property taxes in Yerington, Nevada, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yerington is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Yerington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yerington 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 Yerington's effective property tax rate to other areas in Nevada and the national median. For comparison, the zip code 89447 has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Yerington provides valuable insights into the varying tax landscape across Lyon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yerington Tax Rate
0.84%
Average Lyon County Tax Rate
0.69%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yerington, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89447 | 0.54% | 0.66% | 0.84% | 1.05% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Yerington, Nevada
In Yerington, 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 Lyon 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 Yerington, 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 Yerington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Yerington is $148,218, with the median tax bill being $1,121 in zip code 89447.
Average Yerington Assessed Value
$148,218
Average Lyon County Assessed Value
$272,527
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yerington, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89447 | $52,583 | $102,662 | $148,218 | $209,013 | $275,954 |
Source: Ownwell
Property Tax Bills Across Yerington, Nevada
In Yerington, property tax bills are calculated based on the assessed value of the property, which is determined by the Lyon County Assessor's Office. The assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Yerington, the median home price is $148,218, and property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $697 annually, while those at the 75th percentile could see bills as high as $1,843. The top 10% of property tax bills can reach up to $2,837. Comparatively, with a national median property tax rate of 0.99%, Yerington's rates can be relatively moderate, depending on the specific property and its assessed value. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Yerington Tax Bill
$1,121
Average Lyon County Tax Bill
$1,773
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Yerington, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89447 | $392 | $697 | $1,121 | $1,843 | $2,837 |
Source: Ownwell