Silverpeak, Nevada Property Taxes
The median property tax rate in Silverpeak, NV is 1.37%, considerably higher than both the national median of 0.99% and the Nevada state median of 0.80%. With the median home value in Silverpeak at $18,401, the typical annual property tax bill reaches $241, which is significantly lower than the national median of $2,690. Property taxes in Silverpeak are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Silverpeak'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 Silverpeak 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
Silverpeak, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$252
$234
Ownwell’s Silverpeak Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silverpeak with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silverpeak 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 Silverpeak, Nevada
Property taxes in Silverpeak, Nevada, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silverpeak is 0.68%, significantly lower than both the Nevada state median of 0.60% and the U.S. national median of 0.99%. Local government entities within Silverpeak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silverpeak 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 Silverpeak's effective property tax rate to other counties in Nevada and the national median. For comparison, the 89047 zip code has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Silverpeak provides valuable insights into the varying tax landscape across Esmeralda County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Silverpeak Tax Rate
1.37%
Average Esmeralda County Tax Rate
1.42%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silverpeak, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89047 | 1.10% | 1.21% | 1.37% | 1.56% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Silverpeak, Nevada
In Silverpeak, 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 Esmeralda 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 Silverpeak, 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 Silverpeak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 89047 has the highest median tax bill of $241 and the lowest median tax bill of $241.
Average Silverpeak Assessed Value
$18,401
Average Esmeralda County Assessed Value
$26,637
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Silverpeak, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89047 | $7,995 | $11,819 | $18,401 | $34,958 | $53,275 |
Source: Ownwell
Property Tax Bills Across Silverpeak, Nevada
In Silverpeak, located in Esmeralda County, NV, property tax bills are calculated based on the assessed value of a property, which is derived from its market value. The median home price in Silverpeak is $18,401. To determine the tax bill, the assessed value is multiplied by the local tax rate. The local tax rate is applied uniformly, ensuring that property taxes are proportional to the property's value. Factors influencing the tax bill include the property's assessed value and the specific tax rate set by local authorities. For homeowners, understanding these factors is crucial as they directly impact the annual tax obligation. The tax bill can vary significantly, with the 25th percentile at $176, the 75th percentile at $408, and the 90th percentile reaching $647. Comparatively, the national median property tax rate is 0.99%, highlighting the relative affordability of property taxes in Silverpeak. This lower tax burden can be a significant advantage for homeowners, making it an attractive option for those looking to manage their annual expenses effectively.
Average Silverpeak Tax Bill
$241
Average Esmeralda County Tax Bill
$386
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Silverpeak, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89047 | $148 | $176 | $241 | $408 | $647 |
Source: Ownwell