Washoe Valley, Nevada Property Taxes
The median property tax rate in Washoe Valley, NV is 1.16%, considerably higher than both the national median of 0.99% and the Nevada state median of 0.80%. With the median home value in Washoe Valley, the typical annual property tax bill reaches $2,396, slightly below the national median of $2,690. Property taxes in Washoe Valley are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Washoe Valley'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 Washoe Valley or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Washoe Valley, 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 Washoe Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washoe Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washoe Valley 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 Washoe Valley, Nevada
Property taxes in Washoe Valley, Nevada, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Washoe Valley is 1.16%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Washoe Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washoe Valley 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 Washoe Valley's effective property tax rate to other areas in Nevada and the national median. For comparison, the 89704 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these areas compare with Washoe Valley provides valuable insights into the varying tax landscape across Washoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Washoe Valley Tax Rate
1.16%
Average Washoe County Tax Rate
1.13%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washoe Valley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89704 | 0.93% | 1.06% | 1.16% | 1.20% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Washoe Valley, Nevada
In Washoe Valley, 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 local appraisal districts 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 Washoe Valley, 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 Washoe Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,396, found in the zip code 89704.
Average Washoe Valley Assessed Value
$201,062
Average Washoe County Assessed Value
$201,928
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Washoe Valley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89704 | $119,836 | $147,095 | $201,062 | $351,671 | $715,881 |
Source: Ownwell
Property Tax Bills Across Washoe Valley, Nevada
In Washoe Valley, NV, property tax bills are calculated based on the assessed value of a property, which is determined by the Washoe County Assessor's Office. The assessed value is a percentage of the property's market value. Factors such as location, property size, and market conditions influence this value. The local tax rate is then applied to the assessed value to calculate the tax bill. For homeowners in Washoe Valley, the median home price is $201,062. The tax bill varies significantly within the area, with the 25th percentile at $1,719 and the 75th percentile at $4,115. At the higher end, the 90th percentile tax bill reaches $7,804. Interestingly, both the highest and lowest median tax bills in the area are the same, standing at $2,396 in the zip code 89704. Compared to the national median property tax rate of 0.99%, homeowners in Washoe Valley experience a range of tax bills that reflect the diverse property values and local tax policies.
Average Washoe Valley Tax Bill
$2,396
Average Washoe County Tax Bill
$2,401
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Washoe Valley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89704 | $1,252 | $1,719 | $2,396 | $4,115 | $7,804 |
Source: Ownwell