Fallon, Nevada Property Taxes
The median property tax rate in Fallon, NV is 0.92%, slightly below the national median of 0.99% but higher than the Nevada state median of 0.80%. With the median home value in Fallon, the typical annual property tax bill reaches $1,525, which is below the national median of $2,690. Property taxes in Fallon 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 Fallon'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 Fallon 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
Fallon, 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 Fallon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fallon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fallon 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 Fallon, Nevada
Property taxes in Fallon, Nevada, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fallon is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Fallon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fallon 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 Fallon's effective property tax rate to other counties in Nevada and the national median. For comparison, the 89406 zip code has the highest median property tax rate of 0.92%, while the 89407 zip code has the lowest median tax rate of 0.86%. Understanding how these cities compare with Fallon provides valuable insights into the varying tax landscape across Churchill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fallon Tax Rate
0.92%
Average Churchill County Tax Rate
0.92%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fallon, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89406 | 0.66% | 0.78% | 0.92% | 1.05% | 1.21% |
| 89407 | 0.52% | 0.63% | 0.86% | 1.02% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Fallon, Nevada
In Fallon, 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 Churchill 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 Fallon, 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 Fallon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Fallon is $1,525 in the 89406 zip code, while the lowest is $464 in the 89407 zip code.
Average Fallon Assessed Value
$169,992
Average Churchill County Assessed Value
$169,780
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fallon, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89406 | $62,802 | $97,462 | $170,036 | $261,922 | $346,340 |
| 89407 | $27,267 | $37,630 | $61,758 | $139,601 | $218,072 |
Source: Ownwell
Property Tax Bills Across Fallon, Nevada
In Fallon, located in Churchill County, NV, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. This figure is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the tax bill, including the home's market value, any applicable exemptions, and the specific tax rate in the area. For instance, the median home price in Fallon is $169,992, and property tax bills can range significantly. Homeowners in the 25th percentile pay around $921, while those in the 75th percentile face bills of approximately $2,346. The highest median tax bill in the 89406 zip code reaches $1,525, whereas the lowest in the 89407 zip code is $464. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Fallon residents. Understanding these factors can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Fallon Tax Bill
$1,525
Average Churchill County Tax Bill
$1,522
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Fallon, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89406 | $573 | $922 | $1,525 | $2,346 | $3,336 |
| 89407 | $215 | $322 | $464 | $1,469 | $1,960 |
Source: Ownwell