Genoa, Nevada Property Taxes
The median property tax rate in Genoa, NV is 1.00%, slightly higher than the national median of 0.99% and significantly above Nevada's state median of 0.80%. With a median home value of $529,154 in Genoa, the typical annual property tax bill amounts to $5,215, far exceeding the national median of $2,690. Property taxes in Genoa are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Genoa'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 Genoa or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Genoa, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$5,292
$4,910
Ownwell’s Genoa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Genoa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Genoa 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 Genoa, Nevada
Property taxes in Genoa, Nevada, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Genoa is 1.00%, marginally higher than the U.S. national median of 0.99%. Local government entities within Genoa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Genoa 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 Genoa's effective property tax rate to other areas in Douglas County and the national median. For comparison, the zip code 89411 has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these areas compare with Genoa provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Genoa Tax Rate
1.00%
Average Douglas County Tax Rate
0.99%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Genoa, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89411 | 0.87% | 0.93% | 1.00% | 1.03% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Genoa, Nevada
In Genoa, 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 Douglas County Appraisal District 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 Genoa, 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. The median home price in Genoa is $529,154. 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 Genoa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 89411 has the highest and lowest median tax bill, both at $5,215.
Average Genoa Assessed Value
$529,154
Average Douglas County Assessed Value
$246,243
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Genoa, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89411 | $225,079 | $362,397 | $529,154 | $647,935 | $751,555 |
Source: Ownwell
Property Tax Bills Across Genoa, Nevada
In Genoa, NV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Genoa is $529,154, and the property tax rate in Douglas County influences the final tax bill. Factors such as the size of the property, its location, and any applicable exemptions or deductions also play a role in determining the assessed value. Homeowners in Genoa can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $3,794, while at the 75th percentile, it can reach up to $6,526. At the 90th percentile, homeowners might see tax bills as high as $7,324. The highest and lowest median tax bills both stand at $5,215 in the 89411 zip code. Compared to the national median property tax rate of 0.99%, Genoa’s tax figures reflect the local market conditions and valuation methods, impacting homeowners' annual financial planning.
Average Genoa Tax Bill
$5,215
Average Douglas County Tax Bill
$2,529
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Genoa, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89411 | $2,451 | $3,794 | $5,215 | $6,526 | $7,324 |
Source: Ownwell