Golconda, Nevada Property Taxes
The median property tax rate in Golconda, NV is 0.87%, 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 Golconda being $57,011, the typical annual property tax bill amounts to $506, which is significantly below the national median of $2,690. Property taxes in Golconda 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 Golconda'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 Golconda 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
Golconda, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$496
Ownwell’s Golconda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Golconda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Golconda 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 Golconda, Nevada
Property taxes in Golconda, Nevada, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Golconda is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Golconda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Golconda 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. For comparison, the zip code 89414 has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Golconda provides valuable insights into the varying tax landscape across Elko County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Golconda Tax Rate
0.87%
Average Elko County Tax Rate
0.92%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Golconda, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89414 | 0.82% | 0.84% | 0.87% | 0.89% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Golconda, Nevada
In Golconda, 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 Elko County Assessor's Office 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 Golconda, 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 Golconda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 89414 has the highest median tax bill at $506, while the lowest median tax bill is also $506, reflecting the uniformity in tax assessments in this area.
Average Golconda Assessed Value
$57,011
Average Elko County Assessed Value
$142,560
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Golconda, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89414 | $12,745 | $15,097 | $57,011 | $140,640 | $149,002 |
Source: Ownwell
Property Tax Bills Across Golconda, Nevada
In Golconda, located in Elko County, NV, property tax bills are calculated based on the assessed value of a home, which is a fraction of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Golconda is $57,011, and property tax rates in this region are relatively low compared to the national median property tax rate of 0.99%. Homeowners in Golconda can expect tax bills to vary significantly. The 25th percentile tax bill is $127, while the 75th percentile tax bill is $1,230, and the 90th percentile tax bill is $1,236. This range indicates that while some homeowners might pay modest property taxes, others could face higher bills depending on their property's assessed value. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Golconda Tax Bill
$506
Average Elko County Tax Bill
$1,397
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Golconda, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89414 | $111 | $127 | $506 | $1,230 | $1,236 |
Source: Ownwell