Lamoille, Nevada Property Taxes
The median property tax rate in Lamoille, NV, is 0.88%, which is slightly lower than the national median of 0.99% but higher than the Nevada state median of 0.80%. With a median home value of $279,337 in Lamoille, the typical annual property tax bill amounts to $2,227, which is below the national median of $2,690. Property taxes in Lamoille are calculated based on the tax-assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lamoille'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 Lamoille 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
Lamoille, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$2,458
$2,281
Ownwell’s Lamoille Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamoille with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lamoille 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 Lamoille, Nevada
Property taxes in Lamoille, Nevada, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lamoille is 0.88%, which is lower than both the Nevada state median and the U.S. national median of 0.99%. Local government entities within Lamoille set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamoille 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. Understanding how these cities compare with Lamoille 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 Lamoille Tax Rate
0.88%
Average Elko County Tax Rate
0.92%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamoille, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89828 | 0.83% | 0.85% | 0.88% | 0.91% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Lamoille, Nevada
In Lamoille, 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 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 Lamoille, 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 Lamoille helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $279,337, with tax bills ranging from $1,204 at the 25th percentile to $6,128 at the 90th percentile. The zip code 89828 has the highest and lowest median tax bill of $2,227.
Average Lamoille Assessed Value
$279,337
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 Lamoille, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89828 | $82,047 | $131,796 | $279,337 | $488,114 | $704,880 |
Source: Ownwell
Property Tax Bills Across Lamoille, Nevada
Property tax bills in Lamoille, located in Elko County, NV, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. For homeowners in Lamoille, the median home price stands at $279,337. Tax bills can vary significantly, with the 25th percentile tax bill at $1,204 and the 75th percentile tax bill at $4,260, indicating a wide range of property values and tax burdens. The 90th percentile tax bill reaches up to $6,128, highlighting the impact of higher-value properties on tax obligations. These tax bills are influenced by factors such as property size, location, and improvements made to the property. Compared to the national median property tax rate of 0.99%, homeowners in Lamoille may find their tax bills competitive, yet they must budget for these expenses to avoid financial strain. The highest and lowest median tax bills in the area are both recorded at $2,227 in the 89828 zip code, providing a benchmark for local homeowners.
Average Lamoille Tax Bill
$2,227
Average Elko County Tax Bill
$1,397
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamoille, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89828 | $733 | $1,204 | $2,227 | $4,260 | $6,128 |
Source: Ownwell