Fernley, Nevada Property Taxes
The median property tax rate in Fernley, NV is 0.88%, 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 Fernley at $133,094, the typical annual property tax bill amounts to $1,431, which is below the national median of $2,690. Property taxes in Fernley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Fernley'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 Fernley 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
Fernley, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,171
Ownwell’s Fernley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fernley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fernley 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 Fernley, Nevada
Property taxes in Fernley, Nevada, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fernley is 0.60%, lower than both the Nevada state median of 0.64% and the U.S. national median of 0.99%. Local government entities within Fernley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fernley 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 Fernley's effective property tax rate to other counties in Nevada and the national median. For comparison, the 89408 zip code has the highest median property tax rate of 0.60%, while the 89408 zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Fernley 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 Fernley Tax Rate
0.88%
Average Churchill County Tax Rate
0.92%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fernley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89408 | 0.68% | 0.81% | 0.88% | 0.97% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Fernley, Nevada
In Fernley, 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 Fernley, 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 Fernley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fernley is $133,094, with tax bills ranging from $446 at the 25th percentile to $2,629 at the 90th percentile. Notably, the highest and lowest median tax bills are both $1,431 in the 89408 zip code.
Average Fernley Assessed Value
$133,094
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 Fernley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89408 | $19,082 | $51,472 | $133,094 | $209,430 | $289,260 |
Source: Ownwell
Property Tax Bills Across Fernley, Nevada
In Fernley, located in Churchill County, NV, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the home's market value, which is determined by the county assessor. Several factors influence the assessed value, including the property's size, age, location, and condition. Homeowners in Fernley experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $446, while at the 75th percentile, it climbs to $1,908. Those at the 90th percentile face a tax bill of $2,629. The highest median tax bill in the area is $1,431. When compared to the national median property tax rate of 0.99%, Fernley's property tax rates offer a contrast, reflecting the local economic conditions and property values. Understanding these factors can help homeowners better anticipate their financial responsibilities and plan accordingly.
Average Fernley Tax Bill
$1,431
Average Churchill County Tax Bill
$1,522
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Fernley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89408 | $168 | $446 | $1,431 | $1,908 | $2,629 |
Source: Ownwell