Paradise Valley, Nevada Property Taxes
The median property tax rate in Paradise Valley, NV is 0.90%, slightly lower than the national median of 0.99% but higher than the Nevada state median of 0.80%. With a median home value in Paradise Valley, the typical annual property tax bill amounts to $737, significantly below the national median of $2,690. Property taxes in Paradise Valley are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Paradise Valley'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 Paradise Valley 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
Paradise Valley, Nevada Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$668
$620
Ownwell’s Paradise Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paradise Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paradise Valley 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 Paradise Valley, Nevada
Property taxes in Paradise Valley, NV, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paradise Valley is 0.90%, which is below the U.S. national median of 0.99%. Local government entities within Paradise Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paradise Valley 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 Paradise Valley's effective property tax rate to other counties in Nevada and the national median. For comparison, the 89426 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Paradise Valley provides valuable insights into the varying tax landscape across Humboldt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paradise Valley Tax Rate
0.90%
Average Humboldt County Tax Rate
1.03%
Average Nevada Tax Rate
0.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paradise Valley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89426 | 0.77% | 0.83% | 0.90% | 1.15% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Paradise Valley, Nevada
In Paradise Valley, 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 Humboldt 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. 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 Paradise Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $737, found in the 89426 zip code.
Average Paradise Valley Assessed Value
$74,260
Average Humboldt County Assessed Value
$102,071
Average Nevada Assessed Value
$225,374
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paradise Valley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89426 | $17,460 | $31,234 | $74,260 | $176,443 | $267,491 |
Source: Ownwell
Property Tax Bills Across Paradise Valley, Nevada
In Paradise Valley, NV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Various factors such as the property's location, size, and condition are considered. Once the assessed value is established, a tax rate is applied to calculate the annual tax bill. For homeowners in Paradise Valley, the tax bills can vary significantly. For instance, the 25th percentile tax bill is around $356, while the 75th percentile reaches up to $1,583. The 90th percentile tax bill can be as high as $2,505. These figures show a wide range, reflecting differences in property values and characteristics. The median home price in the area is $74,260, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, the tax rates in Paradise Valley can affect homeowners differently based on their property's assessed value and specific circumstances.
Average Paradise Valley Tax Bill
$737
Average Humboldt County Tax Bill
$979
Average Nevada Tax Bill
$1,782
Average United States Tax Bill
$2,690
Property Tax Bills Across Paradise Valley, Nevada
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89426 | $147 | $356 | $737 | $1,583 | $2,505 |
Source: Ownwell