Topaz Lake, Nevada Property Taxes
The median property tax rate in Topaz Lake, NV is 0.89%, which is 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 Topaz Lake, the typical annual property tax bill reaches $2,252, falling below the national median of $2,690. Property taxes in Topaz Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Topaz Lake'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 Topaz Lake 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
Topaz Lake, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,599
$1,484
Ownwell’s Topaz Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Topaz Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Topaz Lake 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 Topaz Lake, Nevada
Property taxes in Topaz Lake, Nevada, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Topaz Lake is 0.89%, slightly lower than the U.S. national median of 0.99%. Local government entities within Topaz Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Topaz Lake 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 Topaz Lake's effective property tax rate to other areas in Douglas County and the national median. For comparison, the zip code 89410 has the highest median property tax rate of 0.89%, while the zip code 89444 has the lowest median tax rate of 0.86%. Understanding how these cities compare with Topaz Lake 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 Topaz Lake Tax Rate
0.89%
Average Douglas County Tax Rate
0.99%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Topaz Lake, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89410 | 0.85% | 0.88% | 0.89% | 0.98% | 0.99% |
| 89444 | 0.81% | 0.85% | 0.86% | 1.01% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Topaz Lake, Nevada
In Topaz Lake, 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 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 Topaz Lake, 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 Topaz Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Douglas County is $2,968 in zip code 89444, while the lowest is $1,472 in zip code 89410.
Average Topaz Lake Assessed Value
$179,632
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 Topaz Lake, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89410 | $57,387 | $96,700 | $164,983 | $272,347 | $361,773 |
| 89444 | $185,686 | $293,503 | $373,946 | $387,360 | $402,449 |
Source: Ownwell
Property Tax Bills Across Topaz Lake, Nevada
In Topaz Lake, located in Douglas County, NV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is determined by the county assessor's office and is influenced by various factors, including the property's location, size, and condition. Homeowners in Topaz Lake can expect property tax bills that vary significantly. The tax bill for the 25th percentile is approximately $869, while the 75th percentile sees bills around $3,079. At the higher end, the 90th percentile tax bill reaches up to $3,456. These tax bills are crucial for homeowners as they directly impact the overall cost of owning a home. For instance, the lowest median tax bill in the nearby zip code 89410 is $1,472, whereas the highest median tax bill in zip code 89444 is $2,968. Understanding these values can help homeowners budget more effectively and make informed decisions about property investments in Topaz Lake.
Average Topaz Lake Tax Bill
$2,252
Average Douglas County Tax Bill
$2,529
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Topaz Lake, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89410 | $563 | $881 | $1,472 | $2,341 | $3,402 |
| 89444 | $2,943 | $2,953 | $2,968 | $3,333 | $3,438 |
Source: Ownwell